The purpose of this paper is to investigate the extent of convergence of regulations and of practice regarding corporate governance between a developing country (Turkey) and a developed country (the UK).
The development of the codes is described and compared and then research is conducted into the top 100 companies on the stock exchanges of each country.
It is shown that, although the codes, and their iterative development, are similar, the degree of compliance is dissimilar.
These findings suggest that further research in other countries is also needed to see if the explanations are robust.
Much research has been undertaken into corporate governance and national differences but the paper is different in that it makes a comparison between countries and also between regulation and practice to show that these diverge.
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