The Role of Corporate Governance in fdi decisions: Evidence from Taiwan

Table 1.1 Family Controlled Company Share is Countries

In addition to above, types of families with respect to the countries are; The South Corean Chaebol, Turkey Holdings, Indian Business Houses, Latin American Grupos, Japan Keiretsu (mitsubishi, mitsui,sumitomo,fuyo,daiichi kangyo,sanwa), zaibatsu Despite their large size, business groups are usually owned and managed by a single or small number of families.

Regional differences are also important for good corporate governance, Company culture is influenced by regions. Regional diversity led to change organization governance style in Turkey especially Anotolian.

Unrecorded transactions prevent to corporate governance. This theme is very signifinact issue under the Turkey economic environment. Corporate governance is a luxury term for these companies.

Family controlled firms informal relations are more, rather than other types of firms. Bureacracy rate is less, this increases the financial statements importance. Because, accounting transactions are legal issues, which are not dependent informal relations. In addtion, recording all transactions and transparancy play a major role for accounting and corporate governance.¹⁷

We can say that, the environment in Turkey has not been suitable for corporate governance so far. This can be proved by some corporate governance indicators.