Abstract:

One of the most important parameters of contributing to corporate governance process within companies is to have an efficient board of directors. The board of directors is crucial in terms of managing as well as controlling companies’ operations. Enforcing the financial statements and budgets of companies and making important financial decisions based on this information are the board of directors’ strategic financial decisions. The consequences of employing much more financial literate board members within the top management is enhancing the quality of the strategic planning and overviewing of the term performances of companies in a much more accurate way. Therefore with more financial literate board of directors’ composition, good corporate governance implementations will be in place, with other words companies will be effectively managed by the help of corporate governance perspectives. Better management of companies is of the most importance in terms of the macro economic situation of the country as well.

Keywords: