Posts Tagged ‘Melsa Ararat’

Istanbul Stock Exchange Moves First on Mandatory Electronic Voting

Posted by Noam Noked, co-editor, HLS Forum on Corporate Governance and Financial Regulation, on Tuesday November 6, 2012 at 10:04 am
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Editor’s Note: The following post comes to us from Melsa Ararat and Muzaffer Eroğlu, faculty at Sabancı University School of Management and University of Kocaeli Law School, respectively.

Abstract

Turkey’s New Company Law paved the way for its national stock exchange to be the first in the world to require the issuers change their company statutes in order to allow electronic participation and voting at their general assemblies. A recent regulation mandated all listed companies to use a single electronic portal to allow shareholders to participate and vote electronically in general assemblies with immediate effect. The move is one in a series of reforms in support of Istanbul International Financial Center Project. The Financial Times refers to the new regulation as a coup for international institutional investors with Turkish holdings as it increases the transparency of ISE listed companies and empowers them to embrace an activist approach. This commentary discusses the possible consequences of the new regulation.

…continue reading: Istanbul Stock Exchange Moves First on Mandatory Electronic Voting

Corporate Governance in Emerging Markets

Posted by George Dallas, F&C Management Ltd., on Wednesday August 24, 2011 at 9:22 am
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Editor’s Note: George Dallas is Director of Corporate Governance at F&C Investments. This post is based on an International Finance Corporation report by Mr. Dallas and Melsa Ararat, Director of the Corporate Governance Forum of Turkey and faculty member at Sabanci University; the full report is available here.

Emerging markets play an increasingly important role in the global economy, given their high economic growth prospects and their improving physical and legal infrastructures. Combined, these countries account for nearly 40 percent of global gross domestic product, according to the International Monetary Fund.

For some investors, emerging markets offer an attractive opportunity, but they also involve multifaceted risks at the country and company levels. These risks require investors to have a much better understanding of the firm-level governance factors in different markets.

The Complexity of What Matters in Emerging Markets [1]

Over the past two decades, the relationship between corporate governance and firm performance has received considerable attention from inside and outside academia. Most cross-country studies on corporate governance focus on the relationships between economic performance and countries’ different legal systems, particularly the level of investor protections.

…continue reading: Corporate Governance in Emerging Markets

 
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