TRANSPARENCY AS A CORPORATE GOVERNANCE PRINCIPLE; TRANSPARENCY LEVELS OF BIST FINANCIAL INSTITUTIONS

Transparency and Corporate Governance∗

An objective of many proposed corporate governance reforms is increased transparency. This goal has been relatively uncontroversial, as most observers believe increased transparency to be unambiguously good. We argue that, from a corporate governance perspective, there are likely to be both costs and benefits to increased transparency, leading to an optimum level beyond which increasing transpa...

Financial Disclosure, Corporate Transparency, and Innovation

We explore the connection between the country-level financial disclosure environment and innovative investment. There is strong evidence a more transparent disclosure environment lowers the cost and increases the availability of external equity finance, which should, in turn, impact the real activities most dependent on such financing. Using a variety of proxies for disclosure and transparency ...

The Effects of Transparency of Financial Information and Board Composition on Forecast Accuracy of Corporate Earnings

The aim of the present research is to determine the effects of financial information transparency and composition of board of directors on forecast accuracy of corporate earnings in companies. A corporation's key for success is hidden in its optimal direction. So it can be claimed that the secret of the eternal reputation of popular corporations lies in their efficient board of directors. One o...

Optimal and Mandatory Transparency: Implications for Corporate Governance Regulation∗

In light of recent corporate scandals, numerous proposals have been introduced for reforming corporate governance. This paper provides a theoretical framework through which to evaluate these reforms. We show that reforms that seek to improve the quality of information that is reported will reduce welfare, raise executive compensation, and inefficiently increase the rate of ceo turnover. ∗The au...

IT Financial Management-Cost transparency and effective IT governance