International Conference on Eurasian Economies
9-11 September 2015 – Kazan, RUSSIA
Paper ID : 1267
Status : Paper published
Language : Turkish
Topic : Finance and Financial Crises
Presenter: Ph.D. candidate Cüneyd Ebrar Levent
Session : 2C Finansal Krizler
Increasing Transparency in Capital Markets after the Global Financial Crisis: The Case of Turkey
Küresel Finans Krizi Sonrasında Sermaye Piyasalarında Şeffaflığın Arttırılması: Türkiye Örneği
- Ph.D. candidate Cüneyd Ebrar Levent (Istanbul Aydın University, Turkey)
The need for financial transparency is way beyond reducing fluctuations on financial markets, the protection of small investors or fighting against money laundering. Asian crisis in 1997, Dot-com bubble in 2000, company crises such as Enron and the global financial crisis in 2008 have shown that a crisis caused by the lack of transparency in companies might not only affect the company and its stakeholders in a negative way but also the country and the region the company is in. After the financial crisis of 2008 many countries made various arrangements in capital accounts about increasing transparency and accountability which was seen as one of the reason of the crisis in addition the short and long term precautions. Dodd–Frank Wall Street Reform and Consumer Protection Act which came into force in the United States in July 2010 is one of the most significant arrangements. In this study, practices of increasing transparency in capital markets after global financial crisis have been discussed. In this context, in light of the new regulations and the Corporate Governance Principles, transparency and disclosure practices in Turkey have been examined. The results of these practices have been analyzed in the short term and its possible effects on capital markets, companies and shareholders have been discussed in the long term. Increasing transparency has been expected to help financial markets process more effectively and to provide benefits to all stakeholders.
JEL codes: G34, G01, D53
Levent, Cüneyd Ebrar (2015). "Increasing Transparency in Capital Markets after the Global Financial Crisis: The Case of Turkey " in Proceedings of International Conference of Eurasian Economies 2015, pp.370-380, Kazan, RUSSIA.
Full paper in PDF format.
Session 2C: Finansal Krizler