Existing literature suggests that the contents of corporate governance codes are similar due to external forces, such as increased integration of countries in the global economy, the increased role of foreign institutional investors and recommendations on corporate governance practices of...

This article investigates propping in Turkish business group firms for the period 1991-2003. We claim that patterns in the use of offering cash rights share issues may indicate that controlling shareholders prop up funds in firms. The results of our empirical analysis provide indicative evidence...