Özet:

The aim of this study is to measure the impact of corporate governance practices of SMSEs on their own financial performance indicators. For this purpose, 25 companies that are traded in Borsa Istanbul, Emerging Companies Market in 2011-2017 are examined. The major corporate governance principles such as the size of the board of directors of the companies, the duration and duality of the CEO, the ratio of independent directors in the board of directors and the ratio of women managers are used as independent variables. The dependent variables of the model are ROA (asset profitability), ROE (return on equity) of the companies. Panel data regression analysis method was used in the study. As a result of the analysis, it is concluded that only the CEO’s status in the company in terms of corporate governance principles positively affects the financial performance of SMEs and is an important parameter for them. This result supports previous studies.