CARF - Center for Applied Research in Finance


Center for Research in Corporate Governance and Financial Regulation (CCG) is an initiative of Bogazici University. The center is created to enhance the practice of corporate governance by undertaking academic research in finance, and establishing conferences and workshops where academics, business people, policy makers and regulators can meet and exchange best practice ideas. The center is led by academicians with collaboration from its Advisory Board.

Collaboration with the OECD

The Center co-operates with the Organisation for the Economic Co-operation and Development (OECD) on a research project concerning the links between corporate governance and capital market development. The aim is to contribute to the global debate on how better corporate governance policies can support corporate access to capital and value creation by addressing the functioning of current equity and debt markets and new corporate characteristics.

CCG Overview

Building on Bogazici University’s longstanding knowledge in business and finance, CCG research and projects focus on corporate governance and financial regulation. Led by Professor Vedat Akgiray, the center provides a platform focused on policy questions that will be tested via academic research. The mission of CCG is to create and convey financial research implications for companies and financial regulators. The main goal is to improve the corporate governance in financial markets and within firms for better functioning of effective capital markets.


  • Conducting academic research in the field of finance and economics on financial regulation and corporate governance to contribute to sound, effective, and efficient operation of corporate management and financial markets
  • Conducting academic research on structures and best practices about corporate governance and financial activities most suitable for Turkey, taking into account country – specific conditions, culture, and institutions
  • Academically contribute to the conceptual structure of the project that has been implemented under the offical title ‘İstanbul International Financial Center Strategy and Action Plan’
  • Develop a practical platform for the exchange of ideas and cooperation on financial regulation and corporate governance among academicians, market participants, and relevant public institutions
  • Offering policy recommendations based on scientific research to legislators and financial market regulators
  • Providing data and research outcome to empirically strengthen legislative and regulatory preparations in order to highlight the necessity to consider long-term economic value in policy decisions
  • Providing support and training on corporate governance best practices to corporations during various stages of their life cycles and under different legal regimes
  • Contributing to the new generation of effective, efficient, and ethical leaders of the future
  • Offering data and analysis – based advise on equity issues, corporate bond issues, derivative instruments, and effective and efficient operation of public markets
  • Contributing to financial literacy of individuals and their efficient access to financial investments and risk management tools and instruments
  • Cooperating with foreign universities with similar institutions and research centers
  • Conducting academic research and training through collaborative projects with international and intranational institutions
  • Collaborating efficiently with public institutions regulating and supervising the financial markets, such as the Capital Markets Board of Turkey, Borsa Istanbul, and the Central Bank of Turkey, conducting collaborative research, facilitating mutual data access and practical applications of research results
  • Supporting academic and practical level – development of undergraduate and graduate students through training and research
  • Contributing to the research field through internationally acclaimed publications in scientific journals and other media.
+90 212 3594628
+90 212 3594628
Boğaziçi University South Campus 34342 Bebek , Istanbul Turkey

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