The Effect Of Corporate Governance Compliance Rating On The Company's Firm Value: A Study On The Perception Of Managers

The most important part of corporate governance has been at the beginning of the 21st century. Especially before this century, rapidly increasing gains, rising stock markets want to be technologically superior to competitors, changes in organizational structures, superior technological services, and companies institutionally want to move to the top of the world. Companies that want to switch to corporate management have started to work for higher income groups and have made an effort to gain more places in countries with high incomes. Corporate management companies, in the first period that they adapted, informed about how a company can rise from the country management to the lowest employees, how to behave with their stakeholders and how to organize the future. The issue of how companies that cannot comply with the principles of corporate governance can get into a look trend overnight has become important. Analyzing the companies on the basis of corporate governance helps to understand which part of the deficiency is the process of the analysis process. Looking at an organizational structure, it has to adapt to a rapidly changing environment. It will reveal how the company can adapt against competitors, customers, government and other stakeholders, what structural changes have been made, what structural changes are being responded to, and what the situation is related to future structural changes. If there is a deficiency in the organization due to ethical factors, the elimination of mistakes arising from ethical elements will also be discussed within the corporate governance process. The concept of governance, which is a concept that separates the concepts of management and leadership, will also pave the way for dealing with large-scale bureaucratic problems. It will also pave the way for the management to foresee internal conflicts among themselves before the start of the conflict, to determine the locations before the conflict and to draw a loss benefit map after the conflict. Considering the rapid developments in technology and communication, just as the understanding of trade has been reduced from hours to seconds, it is not right to expect people to communicate in a fast and healthy way within the company (Ulusoy and Civek, 2020). In order to affect the world, markets, technologies, countries entered a rapid race; in this race, as the companies that see themselves as the masters of the world grow, regionalization or continental has left its place to globalize or globalize (Dilek, 2017: 206-208). It has been made impossible for administrations to control such large structures, for this reason, the boards of directors can be ruled more and become more active. The fact that the sub-administrations in one country and the technical parts and production in another country have weakened communication, and communication for companies has remained at the forefront, based on the fact that technology is not only talking on the phone or on the screen. For companies and countries' interdependence has come to the fore in an increasingly competitive market. Every new opportunity for markets means every new growth for companies. This has made the environment of the growing company more competitive. The satisfaction of the customers and the satisfaction of the management, the satisfaction of the funders to the company, the satisfaction of the state has become equally important. Companies, which had previously only had to pay attention to cost, have now started to consider the costs that may arise from conflicts such as representation costs, thus looking for ways to adhere to corporate governance principles even more strictly. Although the main purpose of Turkish companies is maximum output with minimum input, it is the most important issue that comes up in every researcher's study where there are concepts such as in continuity company value felt. It is obvious that it has become a necessity to comply with the principles of ethics and social responsibility. When the cases of Lehman Brothers and Enron, which have become an exemplary event in the world, are processed, it will be considered how moral negligence and financial scandals affect a company. In order to eliminate ethical violations, it is obligatory to use corporate governance principles within a specific plan. If a study is conducted about large companies in the world, it is possible that even employees within the company will respond to a question about whether the company behaves in accordance with ethical rules while managing, as most employees or share "I don't know". This situation is suspicious both for company employees and external stakeholders for partners who are outside of management within the company. It is becoming a necessity to adhere strictly to the principles of corporate governance in order to eliminate doubts. Along with corporate governance, it is possible to renew the trust of the society and all stakeholders around the company with the managers of the relevant company and thus increase the sympathy towards the financial instruments of the company. Another issue that needs to be organized in terms of companies is the adaptation problem to the ever-changing environmental conditions. When we look at adaptation to environmental conditions, changing society expectations, changes in the rules and regulations set by the state, changes in human psychology and the sociological structure of the society come to the fore. It is not possible for any organization to work smoothly. When any problems arise, it is important that the company is capable of intervening. When a company offers a new product or service to the market, it has to increase its intervention ability if it wants to be fast with the developments in technology and increasing levels of competition in the world. The most important of the basic needs of the company is time today. What is meant by time is that it is necessary to deliver the products directly and quickly to the consumer, as well as to apply the same in all other decision mechanisms designed through the computer. In particular, the intra-day changes in the financial instruments offered to the public by companies in public partnerships and the values of financial instruments at a specific date are important (Ulusoy, 2017b). In this respect, businesses want to increase the value of their financial instruments and they engage in activities that seem to be sympathetic to the public or external stakeholders in order to increase the value of financial instruments. In addition to responding quickly to customer requests, the concept of wealth acquisition and the satisfaction of company partners in today's world are very important. Adapting to rapid change also means coping with possible crises. Considering the imbalances that occur in the stock market, money and capital markets, what a company should do at first is to have management skills and capabilities while making or creating that product or service. Therefore, it is understood from this that companies that are committed to the corporate governance principles should increase their managerial skills and focus on service and product production in the continuation of managerial skills. It cannot be sustainable by trying to increase profits by only controlling costs (Ulusoy,2017a). The fundamental factor of sustainability is the fulfillment of the elements related to corporate governance. Since the decision-making mechanism is going to be the company here again as it is not within the physical borders of the organization, to be in constant contact with customers, to receive orders from suppliers, to buy quality intermediate products, corporate governance is also evident at this point On the other hand, since trade barriers are lifted, companies have tried to operate more in the global arena and have been subject to world trade law. Thus, the same product can serve different customer bases on many continents. The desire to create value for the internal and external stakeholders of the company by using modern production and information technologies efficiently to achieve the desired goals and results, and the ultimate goal of the companies is to maximize market values. In addition to all objectives of the business within the maximization of market value, the coordination agreements of shareholders and stakeholders of the employees and those in the management position must be complete with the commitment to ethical elements as mentioned above. When the professionalization of the organization is looked at at the degree of specialization within the organization's organization organs and organizations, culture must be absolutely placed in order to determine a strategy for all of them. Cost minimization profit maximization Market value maximization was at the forefront of producing products and services. In addition to these objectives, in the 21st century, the values and norms that employees' moral employees should comply with, the commitments given by senior management to their environment and the process of realizing their commitments, the loyalty of lower level members to the upper level were revealed as unwritten rules. Along with corporate governance principles, these were put into writing and appeared as a grading system in front of companies. Especially when the concepts called efficiency and efficiency are considered separately, a company can also be determined by corporate governance principles in which points it is wrong when it is considered that it will be effective or effective but not efficient. The relationship between the amount of efficiency resources and output is seen as the level of achieving goals in terms of achieving efficiency goals. Customers, creditors, government, trade unions, suppliers and shareholders are all around an organization. If not for the organization, the employees are the owners of the company. Therefore, it is important to comply