TY - JFULL AU - Raif Parlakkaya and Ahmet Diken and Erkan Kara PY - 2015/8/ TI - Corporate Governance and Share Prices: Firm Level Review in Turkey T2 - International Journal of Economics and Management Engineering SP - 2444 EP - 2449 VL - 9 SN - 1307-6892 UR - https://publications.waset.org/pdf/10002109 PU - World Academy of Science, Engineering and Technology NX - Open Science Index 103, 2015 N2 - This paper examines the relationship between corporate governance rating and stock prices of 26 Turkish firms listed in Turkish stock exchange (Borsa Istanbul) by using panel data analysis over five-year period. The paper also investigates the stock performance of firms with governance rating with regards to the market portfolio (i.e. BIST 100 Index) both prior and after governance scoring began. The empirical results show that there is no relation between corporate governance rating and stock prices when using panel data for annual variation in both rating score and stock prices. Further analysis indicates surprising results that while the selected firms outperform the market significantly prior to rating, the same performance does not continue afterwards. ER -