VISION, MISSION, AND VALUES IN THE CONTEXT OF CORPORATE GOVERNANCE: A REVIEW ON TURKISH BANKING SECTOR

The concept of corporate governance is founded on the principles of equality, transparency, accountability and responsibility in general. Corporate Governance, from the point of view of banks, refers to the fact that banks should be governed by securing rights and interests of all stakeholders in accordance with defined goals and regulations and ethic codes of the banking industry. The basic principle in regard of the implementation of corporate governance in banks stated that vision and mission should be defined, corporate values and ethics code should be announced publicly. This paper commenced to discuss the analytical examination of the mission-vision statements, values and ethics codes of the public and/or private banks in Turkey, operating in different fields of, namely, deposit, participation, development and investment. In this context, the scope of the analysis covered key topics emphasized in mission and vision statements of the associated banks and the values have been evaluated in terms of general business and social values and whether confirmed by core values or not. In particular, the emphasis was on the evaluation of values as a reflection of corporate governance principles in Turkish banking sector. In conclusion, an evaluation has been performed on similarities and differences of the respective banks, in terms of vision, mission, and values and good practice guidelines have been presented within the parameters of the international standards