Somebody cares about governance

"Historically, Turkey has had a poor track record in corporate governance, evidenced by the multiple bank failures, poor foreign direct investment (FDI) flows and numerous cases of violation of minority and/or foreign strategic partner rights by dominant groups/families controlling companies." says EFG Istanbul Securities in their report of "Corporate Governance Revisited" dated August 9, 2005. This is the second report about the issue, the first report (pdf) was dated February 9, 2004. For the year 2005, Denizbank is the top scoring company and charecterised by their dedicated IR effort. It is widely accepted that investors pay higher for better governance.