AN ANALYSIS ON ETHICAL VALUES OF PARTICIPATION BANKS OPERATING IN TURKEY
Author(s)Bozkuş KAHYAOĞLU, Sezer
; IZMIR BAKIRCAY UNIVERSITY
; BKare Eğitim ve Danışmanlık
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AbstractValues expressing corebeliefs of an organization are trusts, moral and ethical preferences, whichconstitute organizational culture and lie behind it. These preferences play acritical role in implementation, explanation and interpretation of corporatestandards and business rules. When considered from this point of view, ethicalvalues should have been possessed of different characteristic features. Whilesome of them have based on universal values, some part of values may have beenable to bring business values, social values or principles of corporategovernance to forefront. Ethical values underlie missions, visionsand business philosophies of banks. In this paper, by having idiosyncrasies ofethical values with participation banks analyzed, it has been aimed to putforth it’s common and divergent aspects in comparison to other kinds of bank. Inthis context, it has been investigated whether the ethical values of theparticipation banks are different from those of the conventional banks with respectto the capital structures (state, private, foreign) belonging to both bankgroups. By examining the basic characteristics of the ethical values belongingto the participation banks in particular, it has been investigated whethertheir values are different from the values of other banks. Hence, a correlationanalysis had been carried out based on ethical value data gathered throughcorporate web sites of all banks operating in Turkey. Participation banks,which are critical component of Turkish banking system, have a growingimportance within the banking system. Since participation banking relies onphilosophical foundation of Islamic economy, it prefers different and specificvalues as well as approach when compared to conventional banks. It has beenendeavored to contribute to literature by making an analysis on outlook ofethical values with participation banks operating in Turkey, throughout thepaper.