Starting with the Cadbury Report, corporate governance has
changed its structure over the years in several jurisdictions so as
to find the right balance between minority and majority
shareholders. In 2011, Turkey has its own significant change with a
new Turkish Commercial Code. Within the framework of this new code,
it is intended to balance the power of majority shareholders
against minority. In order to protect minority shareholder rights
against majority, Turkish Commercial Code provides certain
measures. Before involving in the actions of minority shareholders
it is important to define who can be assumed as minority.
In the context of the code, for non-public companies,
shareholders who hold minimum 10% of the shares are considered as
minority. For public companies, minority rights shall be effective
for the holders of 5% of the shares. Although there are several
provisions that is listed on below provided to protect minority
shareholders, legislation present
