Sabancı University Corporate Governance Forum (CGFT) and Standard and Poor's (S&P) released the "2006 Transparency and Disclosure Study Report ".
The report, released on the 6th of June, summarizes the results of the second phase of a 3 years study. The study investigates the corporate response to regulatory improvements undertaken by BRSA and CMB, and increased investor interest in Turkish stocks. The report concludes that the transparency of Turkish companies has been improved drastically over the past few years especially in the area of financial disclosure, but the formation and functioning of Turkish boards continue to be a black box for the investors. The data collected during the study is used as an input for ongoing studies on corporate governance of Turkish firms by the CGFT fellows.