Cultural Backround of Governance Style and Quality in Turkey: An Introduction

The term governance was re-minted as recently as the 1990s by economists and political scientists, and disseminated by institutions such as the UN, IMF and World Bank. It relates to the processes of interaction and decision-making among the actors involved in a collective problem. There are different governance perspectives for different aims. Corporate governance, among others, such as Public governance, consists of the set of processes, customs, policies, laws, and institutions affecting the way people direct, administer or control a corporation. Corporate governance is occupying more and more place in corporate agenda. Because of its nature, financial crises occur in capitalist system. Therefore, there has always been a search for a better governance. Corporate governance, especially may play an important role for the developing countries who need capital inflows through ongoing financial globalisation process. Capital inflow is based on sound corporate governance heavily. Turkey is one of the most highlighted emerging economies. In practise, many shortcomings occur in corporate governance compliance, as in Turkey. Turkey is not on the ideal point neither for himself nor for foreign capital. In this study, it is aimed to go further than current literatur did towards cultural and historical roots which has potentially big impact on the present understanding and compliance of corporate governance in Turkey. The main tool adopted for this aim is closing the gap between respectable studies on the cultural roots of economic understanding of Turkey and studies on corporate governance in Turkey. This paper is presented to share first impressions of this effort. It has been observed that, academics and policy makers related to corporate governance, should pay more attention to this connection, because there is a scientific treasury on cultural backround here which is precious to shape and improve corporate governance atmosphere in Turkey. The footprints of current insufficiency in corporate governance, can be traced in past, via these respectable studies.