Guray Karacar is secretary general of the Corporate Governance Association of Turkey.
In partnership with CIPE, the Corporate Governance Association of Turkey (COGAT) is playing an integral role in educating and advocating for better governance practices among the Turkish business community. COGAT is a pioneer of governance resource material for family-owned companies, in particular, launching its Governance Guide for Family-Owned Companies—one of the first such resources in the region.
Driven by the emergence of a new wave of businesses from Anatolia, family companies comprise 95 percent of registered companies in Turkey. COGAT’s focus on this segment of the private sector is of paramount importance, especially as this new group—who has had little exposure to corporate governance principles and tools—grows in relevance and influence. The governance guide was distributed through a unique partnership with Turkey’s leading economic magazine, Capital, reaching over 21,000 of Capital’s subscribers.
By strengthening these companies’ governance mechanisms and assisting them in becoming more competitive, COGAT is helping to ensure that the Turkish economy is represented by a plurality of actors. Further, COGAT was also part of a select team of lawyers, civil society, and representatives from academia who prepared revisions for the modernization of the 1956 Turkish commercial code. These revisions are currently being considered by Parliament and are designed to bring regulations in line with international accounting standards, increase transparency, protect minority rights, and introduce modern concepts of corporate governance in Turkey. Learn more from COGAT General Secretary Guray Karacar in the video blog above.
Published Date: September 08, 2010