Corporate governance in Turkey: reform and convergence

Purpose - The purpose of this paper is to investigate the extent of convergence of regulations and of practice regarding corporate governance between a developing country (Turkey) and a developed country (the UK).Design methodology approach - The development of the codes is described and compared and then research is conducted into the top 100 companies on the stock exchanges of each country.Findings - It is shown that, although the codes, and their iterative development, are similar, the degree of compliance is dissimilar.Research limitations implications - These findings suggest that further research in other countries is also needed to see if the explanations are robust.Originality value - Much research has been undertaken into corporate governance and national differences but the paper is different in that it makes a comparison between countries and also between regulation and practice to show that these diverge.