IDEAS home Printed from https://ideas.repec.org/
MyIDEAS: Login to save this article or follow this journal

Changes In The Corporate Governance And Ownership Structure In Stock Markets: Demutualization Of Istanbul Stock Exchange

  • Serra Eren Sarioglu

    (Istanbul University Turkey)

Registered author(s):

    Stock exchanges around the world have experienced major changes with respect tocorporate governance beginning with the early 1990s. Until that time, almost all exchanges weremember-owned, organized as ‘non-profit‘ mutual organizations. Although there were no publiclytraded exchanges 15 years ago, today most of the stock exchanges are demutualized and many ofthem are public listed companies. In this paper, the concept of demutualization is presented withsome historical evolution of this process. The forces that might affect the stock exchanges arepointed out and the problems in the process of demutualization are emphasized. Besides, the keyissues for consideration of the demutualization of Istanbul Stock Exchange (ISE) are discussed indetail, and the impacts of demutualization to the capital markets of Turkey are extensively revealedin this paper. In the light of the evidence provided by the prior studies examining the effects ofdemutualization to the stock exchanges and the advantages of a successful process, demutualizationof ISE is recommended in this study. The successful act of demutualization of ISE will result inmany benefits to the Turkish Economy.

    If you experience problems downloading a file, check if you have the proper application to view it first. In case of further problems read the IDEAS help page. Note that these files are not on the IDEAS site. Please be patient as the files may be large.

    File URL: http://oeconomica.uab.ro/upload/lucrari/1420122/22.pdf
    Download Restriction: no

    Article provided by Faculty of Sciences, "1 Decembrie 1918" University, Alba Iulia in its journal Annales Universitatis Apulensis Series Oeconomica.

    Volume (Year): 2 (2012)
    Issue (Month): 14 ()
    Pages: 22

    as
    in new window

    Handle: RePEc:alu:journl:v:2:y:2012:i:14:p:22
    Contact details of provider:

    References listed on IDEAS
    Please report citation or reference errors to , or , if you are the registered author of the cited work, log in to your RePEc Author Service profile, click on "citations" and make appropriate adjustments.:

    as in new window
    1. Krishnamurti, Chandrasekhar & Sequeira, John M. & Fangjian, Fu, 2003. "Stock exchange governance and market quality," Journal of Banking & Finance, Elsevier, vol. 27(9), pages 1859-1878, September.
    2. Reena Aggarwal, 2002. "Demutualization And Corporate Governance Of Stock Exchanges," Journal of Applied Corporate Finance, Morgan Stanley, vol. 15(1), pages 105-113.
    3. Ozmucur, Suleyman, 2007. "Liberalization and concentration: Case of Turkey," The Quarterly Review of Economics and Finance, Elsevier, vol. 46(5), pages 762-777, February.
    Full references (including those not matched with items on IDEAS)

    This item is not listed on Wikipedia, on a reading list or among the top items on IDEAS.

    When requesting a correction, please mention this item's handle: RePEc:alu:journl:v:2:y:2012:i:14:p:22. See general information about how to correct material in RePEc.

    For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: (Dan-Constantin Danuletiu)

    If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.

    If references are entirely missing, you can add them using this form.

    If the full references list an item that is present in RePEc, but the system did not link to it, you can help with this form.

    If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your profile, as there may be some citations waiting for confirmation.

    Please note that corrections may take a couple of weeks to filter through the various RePEc services.

    This information is provided to you by IDEAS at the Research Division of the Federal Reserve Bank of St. Louis using RePEc data.