Abstract:

The study examined the existence of the equalization relationship between the Corporate Management Principles Agreement Rating Points and the profitability rates between the elements that determine the financial performance of these enterprises, which were included in the Borsa Istanbul Corporate Management Index between 2013-2017 and the total of 15 enterprises that operate in the manufacturing sector. To study the existence of this relationship, the shareholders granted to companies as an independent variable in the study, public lighting and transparency, interestholders and board principles points, and as a dependent variable the active profit and self-source profit rate were used. In this study, the panel data analysis method was used and first detected the horizontal cutting dependency between the panels that formed using the Breusch Pagan (1980) LM Test. In the second step, the second generation panel unit root tests, Pesaran (2007) CADF test series were applied and it was found that self-source profitability, active profitability, shareholders, transparency, stakeholders, board, total score variables were standing in a difference I(1). In the last step, Westerlund (2007) panel integration test examined the existence of the integration relationship between the series and found that the integration relationship between the variables (resource profitability, active profitability) and the independent variables (payers, transparency, stakeholders, board) representing the rating points, which are the indicator of the profit rate representing financial performance.

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