THE EFFECTS OF CORPORATE GOVERNANCE PRACTICES ON FIRM-LEVEL FINANCIAL PERFORMANCE: EVIDENCE FROM BORSA ISTANBUL XKURY COMPANIES

Corporate governance (CG) is a fundamental criteria for enhancing investors’ and stakeholders’ trust, relatively recently recognized in emerging markets. This study investigates the effects of CG practices on firm-level financial performance Borsa Istanbul XKURY-indexed companies during 2007–2019. Four specific aspects are analysed: shareholders’ rights, public disclosure transparency, board directors functioning, as defined by Turkish Code Governance, line with international principles issued OECD. Alternative estimations panel regression analysis indicate positive association between stakeholder-oriented expressed accounting measures both non-financial companies. Shareholder protection policies have negative influence accounting-based performance, especially industries, whereas corporate related to vary entities. These findings contribute research implications markets, providing evidence about importance distinctive dimensions performance.