IMPACT OF CORPORATE GOVERNANCE PRINCIPLES ON WOMEN’S QUALITY WORK ENVIRONMENT ATTITUDES: A NEO-INSTITUTIONAL PERSPECTIVE Текст научной статьи по специальности «Экономика и бизнес»

g DOI: 10.29141/2218-5003-2023-14-2-1 EDN: MYMIAH

3 JEL Classification: G34, J16, M14

S £

I Impact of corporate governance principles

§ on women's quality work environment attitudes:

jj A neo-institutional perspective

^ Yildiz Yilmaz Guzey1, Boray Ugra§2

1 Beykent University, Istanbul, Turkey

2 Social Security Foundation, Istanbul, Turkey

Abstract. Mainstream institutional theories and corporate governance studies are entwined with patriarchal business relationships. However, within the theories the gender factor and benefits of the institutionalization process and corporate governance principles in terms of women's employment in organizations have not been fully investigated. In addition, whether corporate governance principles are an effective tool to keep women in working life has not received sufficient attention in the literature. The paper aims to explore the contribution of institutionalization process and corporate governance interaction to employment and working environment quality with respect to female employees in the labour market where patriarchal labour relations are dominant. To achieve this purpose, the authors designed a questionnaire to compare gender groups in organizations that have adopted the principles of institutionalization and corporate governance. The total of 506 employees actively working in organizations in Turkey participated in the survey. Respondents' answers were analysed using the structural equation models in the SPSS statistical program. The research findings revealed that the institutionalization process has a partial mediation effect on women's attitude to quality of work environment. On the other hand, it was determined that corporate governance principles have no moderator effect on women's attitude to work environment quality. The findings demonstrate that as the transparency and professionalization levels increase, women tend to prefer the organizations more. Compared to men, female managers and assistants embrace transparency and professionalization as a distinguishing quality of an efficient organization. Since corporate governance principles strengthen women's employment in organizations in terms of equal wages and career opportunities, managers need to consider these principles as a substantial element of a company's activities.

Keywords: neo-institutional theory; principles of corporate governance; stakeholder theory; labour market; patriarchy; work environment quality; women's attitude.

Article info: received January 24, 2023; received in revised form March 6, 2023; accepted March 14, 2023

For citation: Guzey Y.Y., Ugra§ B. (2023). Impact of corporate governance principles on women's quality work environment attitudes: A neo-institutional perspective. Upravlenets/The Manager, vol. 14, no. 2, pp. 2-19. DOI: 10.29141/2218-5003-2023-14-2-1. EDN: MYMIAH.

Влияние принципов корпоративного управления на отношение женщин к качеству рабочей среды: неоинституциональный аспект

Й.Й. Гюзей1, Б. Уграш2

1 Университет Бейкент, г. Стамбул, Турция

2 Фонд социального страхования, г. Стамбул, Турция

Аннотация. Основные теории институционализма и корпоративного управления тесно связаны с патриархальной культурой деловых отношений. Гендерные аспекты трудовой деятельности и преимущества женской занятости в рамках данных теорий изучены недостаточно. В научной литературе не уделяется также должного внимания вопросу о том, являются ли принципы корпоративного управления эффективным инструментом удержания женщин на рабочем месте. Статья посвящена изучению влияния процесса институционализации и корпоративного управления на занятость женщин и их отношение к качеству рабочей среды в условиях рынка труда, ориентированного на патриархальные ценности. Для сравнения гендерных групп в организациях, внедривших принципы институционализации и корпоративного управления, применялась разработанная авторами анкета. Информационную базу исследования составили данные опроса 506 респондентов - сотрудников турецких компаний. Полученная информация проанализирована с помощью метода моделирования структурными уравнениями в программе статистической обработки данных SPSS. Согласно результатам исследования, процесс институционализации оказывает частичный медиационный эффект на отношение женщин к качеству рабочей среды, тогда как принципы корпоративного управления не имеют модерирующего влияния на тот же фактор. Обнаружено, что рост профессионализма и уровня прозрачности организационных процессов повышает привлекательность компаний для сотрудниц. Эти два фактора, по их мнению, являются ключевыми для эффективной деятельности организаций. Поскольку принципы корпоративного управления предусматривают равенство женщин в сферах оплаты труда и карьерных возможностей, их соблюдение должно быть обязательным элементом бизнес-деятельности компаний.

Ключевые слова: новая институциональная экономика; принципы корпоративного управления; теория стейкхолдеров; рынок труда; патриархальность; качество рабочей среды; сотрудники-женщины.

Информация о статье: поступила 24 января 2023 г.; доработана 6 марта 2023 г.; одобрена 14 марта 2023 г.

Ссылка для цитирования: Guzey Y.Y., Ugra§ B. (2023). Impact of corporate governance principles on women's quality work environment attitudes: A neo-institutional perspective // Управленец. Т. 14, № 2. С. 2-19. DOI: 10.29141/2218-5003-2023-14-2-1. EDN: MYMIAH.

INTRODUCTION

Principles of corporate governance develop as a management culture attracting interest in the labour market and awakening curiosity within organizations. Organizations becoming multi-national and expanding, increased capital movement speed, globalization led by the principles of corporate governance created the necessity to provide security for investors. Moreover, the corporate governance system is a modern management technique applied due to the need of attaining low-cost funds and to employ qualified labour force. In order to benefit from corporate governance systems, organizations tend to become more similar and corporate governance is used as a medium of legitimacy. It is widely known that among OECD countries women in the Scandinavian territory break employment records with long term, continuous employment opportunities. Corporate governance systems have been successful in countries such as Norway and Denmark where female employment is high. It is deemed significant to investigate the issue of improving and advancing the status of female employment with the assistance of neo-institutional theory and principles of corporate governance.

Mainstream institutional theories and corporate governance studies are entwined with patriarchal business relationships. The gender factor in corporate governance and institutional theories is an area not sufficiently researched. For the first time, this study examines institutional theories and principles of corporate governance from the perspective of gender. The first part of the study elucidates the theoretical background of the concepts of neo-institutional theory, principles of corporate governance and quality of work environment. The second part presents the research design comprising the research question, the research model, findings and statistical analysis. Research findings are summarized and recommendations are provided in the final part.

THEORETICAL BACKGROUND OF THE RESEARCH

Neo-institutional theory. Institutional theories have a long history reaching back to the mid-19th century. All areas of social sciences provided significant contributions to the field. First neo-institutional arguments were formulated in 1977 by John Meyer and his colleagues. The asserted general argument was that the formal organizational structures did not only reflect technical imperatives or resource dependencies but also institutional powers

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which are legitimized by educational systems as "rule-like | systems", "rational myths", and "information". Organiza- S tions do not only compete for resources. In addition to considering formal structures as brave and creative, early works also display the privileged status of organizations as legitimate, dominant actors in modern societies [Scott, 2008, p. 427]. The majority of formal organizational structures have emerged as the reflection of rationalized institutional rules. Institutional rules function as myths that comprise gaining legitimacy, resources, stability, and enhanced survival prospects. Neo-institutional frameworks for modelling organizational behaviour claim that institutions aim to merge the norms of institutional environments in order to achieve legitimacy, resources, stability and enhanced survival prospects [Chizema, Buck, 2006, p. 492]. The formal structures of many organizations in post-industrial societies reflect the myths of their institutional environment instead of the demands of their work activities [Meyer, Rowan, 1977, pp. 340-341].

One of the major issues of organizational theory is to define the conditions constituting the rationalized formal structure. Conventional theories presume that rational formal structure is the most effective method to coordinate and govern complex relational networks embedded in modern technical or work activities. Economic markets place great importance on rationality and coordination. While markets expand, the relational networks in a specific field become more complex and differentiated, and organizations in that field are required to manage more internal and boundary-spanning interdependencies. When the relational networks of the organizations reach an ultimately complex structure, it is believed that bureaucratic systems are the most effective and rational methods to control subunits [Meyer, Rowan, 1977, p. 342].

DiMaggio and Powell [1983] made a distinction between old and new institutionalism. Along with power and informal structures, old institutionalism focuses on influence, coalitions and competition values. This focus contradicts new institutionalism which emphasizes legitimacy, the embeddedness of organizational fields, and the centrality of classification, routines, scripts and outlines. Scott [1987] claimed that institutional theory was in adolescence. He, then, mentioned a notable progress: "The approaches of many analysts seem to converge, as they acknowledge the importance of meaning systems, symbolic elements, regulatory processes, and governance

2 systems. The integration of old and new institutionalism,

3 which we refer to as neo-institutionalism, is the conver-£ gence around multiple themes." This convergence in-8 volves all of the elements of the old and new institutional

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£ theory [Greenwood, Hinings, 1996, p. 1023]. Although the £ neo-institutional theory introduces new focuses and ap-| proaches, it does not represent a sharp separation with Is the past from many aspects [Scott, 1995, p. 24].

Hannan and Freeman claimed that isomorphism was the result of competitive pressures that force organizations to adopt similar characteristics facing the same environmental restrictions [Hannan, Freeman, 1977, p. 937]. DiMaggio and Powell [1983] stated that isomorphism develops towards an interdependent collectivity that steers organizations to homogeneity by constructing an organizational field [Oliver, 1988, p. 543]. Organizations facing institutional pressures in an organizational field or population become similar in terms of structural or procedural characteristics [Scott, Davis, 2007, p. 265]. When organizations in the same industry or sector are structured into a field, they have been observed to tend to become more similar to each other. Organizations can change their aims, adopt new implementations, or new organizations in the same field may emerge. However, an environment is constructed that restricts the ability of organizations to change in the long term. In time, adoption provides legitimacy instead of enhancing performance [DiMaggio, Powell, 1983, p. 148].

"Legitimacy is a generalized perception or assumption that the actions of an entity are desirable, proper, or appropriate within some socially constructed system of norms, values, beliefs, and definitions. Legitimacy is a perception or assumption in terms of representing a reaction of observers to the organization as they see it; thus, legitimacy is possessed objectively, yet created subjectively" [Suchman, 1995, p. 574]. Legitimacy is created inside the organization, sustained around the organization. Legitimacy refers to an actor or action being publicly verified or approved. The social verification process stands for an organization being approved for a distinguished competence it has or plays a role in providing a product or service. "According to Selznick [1957] an organization and its leaders will attempt to market this competence to relevant constituents" [Dacin, Oliver, Roy, 2007, p. 171]. Organizations conform to contextual expectations in order to gain legitimacy and increase their probability of survival [Greenwood, Hinings, 1996, p. 1026].

Modern neo-institutional theory rises above three pillars: regulative, normative, and cultural-cognitive pressures. These elements reached their maturity in Scott's [1995] research after Meyer and Rowan's [1977] study.

Regulative institutional pressures. The coercive pressures in the neo-institutional theory are equivalent to the regulative institutional pressures in Scott's classification. Institutions restrict and manage behaviour in the social order. The regulative pillar of institutions involves activi-

ties of setting rules, monitoring, and sanctioning. Organizational actors shape their behaviour according to norms and institutions with a cost and gain calculation [Hechter, Opp, Whippler, 1990, p. 4].

The most important element to create regulatory institutional pressures today is the state. The state is steering economic and social life by the mechanisms of establishing rules and monitoring and inspecting. A consistent system of rules supported by the power of monitoring and sanctioning is a widely shared definition of institutions. In this conception, regulatory processes comprise setting rules, inspecting others' conformity to them, and, distribute reward and punishments to influence future behaviour [Scott, 1995, p. 35]. Pressures in government directives concerning necessary pollution control equipment for new technologies entail legal sanctions. New regulations and institutional management culture/codes introduced to the finance sector following the accounting scandals after the 1990s is an example for regulative institutional powers. A major retailer favouring its supplier for producing more environmentally friendly goods also can be defined as regulatory power [Daft, 2015, p. 167]. An organization adopting equal hiring, promotion, and pay policies in order to comply with local/universal codes, and banning companies from public tenders which apply discriminatory policies against women manifest the impact of regulatory institutional powers [Jones, 2017, p. 328].

Normative institutional pressures. The second pressure element of neo-institutional theory is the normative institutional pressure which recommends professionali-zation. Two aspects of professionalization are important isomorphism resources. The first one is that formal education and legitimation are adopted on a cognitive basis by university academics. The second one is the growing and becoming more detailed of professional networks in which new models involving organizations rapidly spread. The source of shared standards of professionalization, shared culture and standards allowing development all stem from formal education at universities. Individuals with similar professional backgrounds are recruited by employee filtering. The second important stage of professionalization is the growth and expansion of professional networks created among actors such as doctors, lawyers, or accountants [Greenwood, Suddaby, Hinings, 2002, p. 63]. Lawyers, doctors, and accountants develop and improve the culture and norms of the professions through their professional networks. Professional associations (chamber of medicine, bar association, chamber of accountants), as well, can determine the principle rules/ templates of the execution of the profession. Groups and organizations, which are deemed trustworthy and legitimate actors, supporting certain institutional practices and structures are constituents of the normative element. Institutions such as the Association of University Professors or the Association of Medical Doctors maintain the continuity of the social order by conveying the values,

strategies, written/unwritten norms, culture of the profession through their members. When professional associations support certain organizational structures, school health programmes, innovation programmes, recycling policies get accepted by the organization [Tolbert, Hall, 2009, p. 61].

One of the most significant factors in the formation of the normative institutional pillar is the movement of talented employees and managers from one organization to another, transferring the professional experiences of the previous organization to the new one. A great number of companies from the organizational field or industry select their managers from other companies. A manager moving from one company to another leads to the norms and values of the two companies become similar. On the other hand, companies obtaining norms and values from their employees who are members of professional associations is another reason of normative institutional similarity. Structures in the industry adopt similar world views through meetings, seminars, publications [Jones, 2017, pp. 328-329]. Techniques applied in the industry are quickly becoming standardized, as students studying in fields such as finance, marketing, research and development, and production in business schools are imposed that certain techniques are more practical than others [Daft, 2015, p. 168].

Cultural-cognitive institutional pressures. Cultural-cognitive pressures emphasize the centrality of shared concepts of the nature, grammar, and syntax of social reality. Cultural-cognitive pressures are the principle element of institutional pressures, as it is impossible to construct norms and rules in the absence of cultural patterns and frameworks. Differences among typologies, categories, types of objects, activities, and actors constitute the cultural-cognitive structure of the organization. Cultural-cognitive elements focus on the symbolic aspect of culture. Shared values, beliefs, emotions, patterns, mindsets are the software of the organization memory [Scott, 2012, p. 29]. Symbols, words, signs, and gestures have the impact to shape the meanings we attribute to objects and activities. Meaning arises, continues, and transforms through interaction [Scott, 1995, p. 40].

The reason of cultural-cognitive processes to emerge in organization theory is because the environment is ambiguous, technology is insufficient, aims are unclear, and the industry is complex. When the uncertainty and complexity increase, organizations tend to imitate the structures and work processes of the successful ones. Retail stores copy each other by creating ethics codes and thus, prevent a negative dissociation of any store in the competitive market [Jones, 2017, p. 328].

Even though they have no information, organizations unconsciously adapt themselves to the structures around them in order to reduce the uncertainty in the environment [Yildiz, Okan, 2019, pp. 145-146]. In cultural sense, copying another organization maintains the legitimacy.

Uncertainty is decreased when banks or production com- ° panies resemble each other culturally. The most typical 3 example of copying is benchmarking which manifests I itself as part of total quality management. When the tech- g nology of an organization is old, aims are uncertain, and £ environment is complex, cultural support is provided by < imitating successful rivals [Daft, 2015, p. 166]. For exam- | ple, it finds that downsizing is insignificant on company x profitability relative to the size of layoffs, and there is no ¿í evidence to suggest that downsizing companies have sig- S nificantly increased their profitability. However, downsiz- | ing is seen as a rational solution in challenging business S processes when organizations' corporate culture supports corporate logic [McAuley, Duberley, Johnson, 2019, p. 210]

Principles of the corporate governance. The OECD has become an important base for corporate governance practices since the 1990s. The success of organizations requires decision makers to adopt a participatory approach, a culture of transparency and accountability, to be fair and consistent, and to have corporate trustworthy management structures. Corporate governance is a culture, a climate and a set of behaviours [Argüden, 2020, pp. 12-13].

Corporate governance not only encompasses conventional structures aiming to obtain profits and distribute those to shareholders, but also new structures attaching importance to the interests of other stakeholders such as managers, employees, customers, creditors, investors, and the government [Millstein, 2000, p. 27]. Corporate governance is focusing on principles in which suppliers of finance to corporations guarantee gaining a profit for their investment [Shleifer, Vishny, 1996]. Good governance, which is defined as structures and processes managing and monitoring companies and banks with quality, helps the organization operate more efficiently. It facilitates access to capital, minimizes risk and protects against bad management. Good management not only benefits the organization, but also nourishes its development. Increased access to capital promotes new investments which in turn accelerates economic growth and provides employment opportunities. Companies operating more efficiently tend to distribute and manage resources more sustainably. Better stakeholder relationships help organizations to focus on social and labour issues1.

According to Freeman et al. [2010, p. 3] management vocabulary developed under the influence of Weberian bureaucratic theory assuming organizations were in relatively stable environments. Management education moved towards the search for theories allowing more certainty, prediction, and behavioural control. Freeman proposed managers to apply a vocabulary based on the concept of "stakeholder". Freeman et al. [2010, p. 405] formed

1 International Finance Corporation, IFC. (2015). Corporate governance: Success stories in Europe and Central Asia. Working Paper, pp. 10-11.

g the theoretical ground by approaching three intertwined

3 business-related problems:

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£ • the problem of the ethics of capitalism: what are the | connections between capitalism and ethics? Ü • the problem of managerial mindset: how should managers think about management to (1) better create value, and (2) explicitly connect business and ethics.

When the concept first emerged, it was considered as the successful management by executive managers of joint stock companies, while now it refers to a total good management for all stakeholders [Aoki, Jackson, Miya-jima, 2007, p. 257].

Transparency. "Transparency describes the increased flow of timely and reliable economic, social, and political information about investors' use of loans; the creditworthiness of borrowers; government's provision of public services, such as education, public health, and infrastructure; monetary and fiscal policy; and the activities of international institutions" [Kaufman, Vishwanath, 1999, p. 3]. With the transparency policy in organizational processes, it is possible for the media, non-governmental organizations and citizens to control companies by accessing financial information [Ayhün, 2018, p. 17]. For the correct use of organizational power, it should be used in "daylight" [Oktay, 2020, p. 459].

The corporate governance framework provides disclosure on all accounts of a company such as ownership, performance, and financial situation. Companies are encouraged, and sometimes even obligated to present information about the company. Disclosure may include management/employee relations, including remuneration, collective bargaining coverage, and mechanisms for employee representation, and relations with other stakeholders such as creditors, suppliers, and local communities. In order to determine what information should be disclosed, many countries apply the concept of materiality. Some countries require extensive disclosure of information on human resources. Human resource policies, such as programmes for human resource development and training, retention rates of employees and employee share ownership plans, can communicate important information on the competitive strengths of companies to market participants1. Increased transparent, improved corporate governance and better investor relationships help increase investments to a country [Haat, Raman, Ma-henthiran, 2008].

Accountability. Accountability is to clarify governance roles and responsibilities, to support voluntary efforts in order to converge management and stakeholder interests, and to monitor all actions by a board which can make decisions objectively [Millstein, 2000, p. 28].

1 OECD. (2015). G20/0ECD Principles of corporate governance. OECD Publishing, Paris, pp. 37-41.

Creating the base of an effective corporate governance framework is possible by accountability. The corporate governance framework should support transparent and fair markets, and the efficient distribution of resources. It should be consistent with the rule of law. Supervisory, regulatory, and enforcement mechanisms should have the necessary authority, integrity, and resources to execute their duties professionally and objectively. Moreover, decisions should be made timely and disclosed transparently. As the level of accountability increases in a company, restrictions will be imposed on managers to make controversial decisions, to act by forgetting their responsibilities, to look after the interests of a certain group, and finally, effective decisions can be made because of accountability [Ayboga, 2021, p. 62]. For efficient practice, responsibilities should be divided among these mechanisms and explicitly defined. The division should serve the public interest2.

Fairness. The base of corporate governance in the competitive global economy is laid by trust among stakeholders. Companies are now dependent on various stakeholder groups which have the ability to influence the long run competition success. It is difficult to motivate and encourage creative and innovative decisions and actions within a growing enterprise without the reciprocal trust of stakeholders. Trust can only be facilitated by treating the members of stakeholder groups in a way they deem fair, just, and equal. According to Golembiewski and Mc-Conkie [1975, p. 131], there is no other variable that influences interpersonal and group behaviour as much as trust. Zucker [1985, p. 5] claims that trust is vital to maintain social cooperation and even necessary for routine daily interactions. The impacts of trust are often neglected when designing management mechanisms [Ring, Van de Ven, 1992, p. 485; Hosmer, 1995, pp. 379-380].

The framework of corporate governance should acknowledge rights of stakeholders and should promote active cooperation of enterprises and stakeholders to create wealth, jobs, and financial sustainability. The rights of stakeholders are usually set by law or by mutual contracts. Company regulations and national law determine how much employees can participate in corporate governance. International agreements and national norms recognize the rights of employees to information, consultation and negotiation3.

Responsibility. An important responsibility of the board is to supervise the risk management system and systems created to secure that the enterprise follows the current codes, including tax, competition, labour, environmental, equal opportunity, health, and safety laws. The board is accountable to the company and shareholders. In addition, boards are expected to take into consideration the interests of other stakeholders such as employees, creditors, customers, suppliers, and local

2 Ibid, pp. 14-16.

3 Ibid, pp. 34-35.

communities. In this context, it is important to comply with environmental and social standards. In some countries, boards are legally obligated to act in the interest of the company, while respecting the interests of shareholders, employees, and public good. The board sets the ethical tone of the company not only through its actions but also by selecting key executives, or in other words, the management. High ethical standards are set both in daily operations as well as long term prospects as a way of creating credibility and trustworthiness. To make the objectives of the board clear and functional, some companies find it beneficial to develop company codes of conduct1. Corporate social responsibility (CSR) determines the ways companies handle their social and environmental impact. Companies discuss more about social gender equality and include it in their CSR programmes. This is not important only due to lack of qualified labour and increase in women's participation in the work force. It is necessary for women to participate in company management [Grosser, 2009, pp. 290, 303]. According to Carroll [1979, p. 500], corporate social responsibility is four tiered: legal, ethical, economic, and discretionary (philanthropic) responsibilities [Freeman et al., 2010, p. 240].

Quality of working environment concept. The career type of the 21st century is flexible, governed by the individual instead of organizations, and rediscovered whenever the individual and environment transforms. The protean career type as a term is derived from the Greek god Proteus who could shift his shape [Scott, Davis, 2007, p. 180]. Alienation, inequality, and precarity affect women in the labour market on different levels. According to researchers [Seeman, 1959; Middleton, 1963], there are six variables of alienation: powerlessness, meaninglessness, normlessness, cultural exclusion, self-estrangement, and social isolation. Unsecured and flexible employment models weakened life-long employment concept for women, entrenching discontinuous career type in the labour market. Globalization, change in economic transactions, and informal employment phenomenon affected the secure and continuous career type negatively.

As women do not consider working as a career opportunity and are weakly attached to the labour market, working is merely deemed as contributing to the family budget. Patriarchy [Walby, 1989, p. 220] dominates labour markets in developing economies resulting in women to be excluded from organizations, thus, female poverty. The patriarchal system not only has influence in social domains but also on the female work in organizational domains. Social gender equality which entails questioning patriarchal business relationships within organizational structures and individuals replacing their old habits with new methods is only poorly executed in the mainstream.

When first emerged, principles of corporate governance were focusing mainly on investment security, finan-

1 OECD. (2015). G20/0ECD Principles of corporate governance, OECD Publishing, Paris, pp. 46-47.

cial stability, and low risk. However, today, they encompass ° also a solid structure for employees and development of 3 intra-organizational democracy. While highlighting the I protection of stakeholder interests, modern corporate g governance systems also facilitate continuous work op- £ portunities for female employees and highly skilled em- < ployee recruitment. From this perspective, corporate | management systems create a quite suitable business x organization for female employees. ¿í

Therefore, examining the factors determining wom- S en's attitude to quality of work environment with a dual | approach (institutional and economic) brings clarity to S the issue. However, in this study, the concept of work environment quality is investigated on an institutional basis. As the concept of quality of working life, on a macro level, incorporates a much broader area including maternity benefits, leave benefits, recreational activities, maintenance systems, this study confines the meaning of the concept to quality of work environment.

Quality of working life (QWL) defines the scope of relationships among individuals and the perception of life concerning work environment. QWL was first conceptualized by Walton [1975] and categorized from eight different aspects: immediate opportunity to develop and use human capacities, opportunity for continued growth and security, social integration, constitutionalism, adequate and fair compensation, work and total life space, social relevance of work life, and safe and healthy working conditions [Kaur, 2016, p. 8306]. Previous studies suggested that organizations providing better QWL would be advantageous in hiring and keeping valuable labour force, however, it would be misleading to associate it with productivity. Employees become attached to the organization when their expectations are satisfied. This verifies that QWL has a direct negative effect on the intention to resign [Surienty et al., 2014, pp. 407-408].

RESEARCH METHODOLOGY AND RESEARCH QUESTION

The research question in order to test the impact of corporate governance principles on women's attitude towards work environment quality from a neo-institutional perspective is as follows: "Under today's conditions, are the existing corporate governance principles sufficient and effective to ensure female labour force to be permanent in work life?". The research model is presented in Fig. 1.

Dependent, independent, mediator and moderator variables appearing in the research design are given in Table 1.

The preferred sample technique for this research is "purposive sampling" selected from non-probability sampling methods, as a certain level of enhancement is required in order to measure institutionalization and corporate governance system, and to comprehend the research topic. A questionnaire is prepared conforming to 3-point Likert Scale. Since the survey coincided with the pandemic period, the survey form was designed as

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Institutionalization process

Neo-institutional theory and principles of corporate governance

Institutional pressures

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Responsibility

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Transparency

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Cultural power Professionalization Formalization

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Women's attitude work to environment quality

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Note. In the model, dotted lines highlight short-term interactions, while solid lines show long-term interactions. The large dotted lines reflect the circularity of Peter Senge's The Fifth Discipline.

Fig. 1. Research model Рис. 1. Модель исследования

Table 1 - Variable classification Таблица 1 - Классификация переменных

Variables Variable category

Neo-institutional theory - Principles of corporate governance Independent

Women's attitude to quality of work environment Dependent

Institutionalization process Independent Mediator Moderator

a 3-point Likert. Participation in the survey was extremely difficult due to the pandemic and we received 110 questionnaires from men and women working at the gas station. The questionnaire form consists of 46 statements as I agree - Indecisive - I do not agree. The questionnaire includes 18 institutionalization statements, 19 neo-institu-tional theory and corporate governance statements, and 9 statements for women's attitude to work environment quality. The statements of institutionalization process scale were taken from Koç and Aylan [2017]. The statements of principles of corporate governance scale were taken from Apaydin [2007]. The statements of women's work environment quality scale were taken from Sirgy et al. [2001]. Moreover, in order to determine demographi-cal characteristics of participants and to bring balance to the research, working age groups, gender, educational background, and status within organization variables were added to the survey.

Data sample and data collection. As structural equation modelling, multiple regression, exploratory and confirmatory factor analyses were going to be applied, the sample group was calculated as 384 according to formula

n = fpq/d2,

where n is the number of individuals to be sampled; p is frequency of occurrence of the investigated event (probability of occurrence); q is frequency of non-occurrence of the investigated event (probability of not occurring);

t is the theoretical value found according to the t table at a certain significance level; d is sampling error accepted according to the incidence of the event.

A total of 524 questionnaires were sent to the participants, and 506 questionnaires were received. The questionnaires were filled out by employees working in highly institutionalized organizations employing 250 people or more. It was confirmed that the 506 questionnaires were distributed throughout the whole country and that the results represented all regions. Participants were from 40 cities and all 7 regions of Turkey. 205 of the received 506 questionnaires were from blue collar staff; the remaining 301 were from white collar employees. Data show that the survey represents female-male employees, blue collar-white collar employees, and different age groups. The literature review revealed that "the effects of the fairness principle on organizational commitment and performance" was tested in a high number of studies, therefore, this principle was omitted from the research.

Descriptive statistics. Respondents' demographic characteristics are given in Table 2. 506 active employees participated in the survey. 55.3% of respondents were women (280 participants), 44.7% were men (226 participants). Women participation was higher, as the research is on female employment. However, since it was believed that gathering information on opinions of both women and men was a beneficial method, the research was designed mixed for both genders.

Table 2 - Demographic characteristics of participants Таблица 2 - Демографические характеристики

респондентов

79.8% of employees (404 participants) are in the age group of 25-45. Only 9.7% of employees (49 participants) are in the age group of 46-60, and 10.5% of employees (53 participants) are in the age group of 15-24.

63.0% of employees (319 participants) have a higher education degree (associate, undergraduate, bachelor degrees or higher). This group is followed with 23.5% (119 participants) by employees with secondary education degrees. Primary degree group is merely 13.4%. The high percentage of employees with higher educational backgrounds is due to the high institutionalization levels of participating organizations. High institutionalization degree requires highly educated employees more.

The distribution according to status within organization displays that 77.5% of employees (392 participants) are assistants, and 22.5% of employees (114 participants) are managers. Among the total number of respondents (506), 11.7% (59 participants) are female managers, 43.7% (221 participants) are female assistants, 10.9% (55 participants) are male managers, and 33.8% (171 participants) are male assistants. The research shows that female managers are predominant among manager participants.

RESEARCH ANALYSIS

Gathered data from the research were tested with SPSS and AMOS statistical program with descriptive, exploratory, reliability, confirmatory, hypothesis, hierarchical regression, correlation, mediator, moderator effect analyses. Preliminary examination before any statistical filter was applied showed low positive answers to the statements of merit based fair pay and reward share in organizations with high institutionalization level in all categories (man-woman; manager-assistant; age group, educational background, and status within organization). This finding indicates employees experience nepotism. It is obvious that the lower the educational level, the higher is the

inequalities, and need for managerial support. Findings °

of this research correspond to the findings of the study 3

of Acemoglu and Restrepo [2017, p. 33]. Participants ex- I

pressed that they were employed in positions that fit their g

technical capabilities. £

Before proceeding to the analyses, the normality test <

was performed for the variables to be used in the analy- |

ses. As a result of the test, it was determined that only the x

scores of the professionalization dimension, among the ¡2'

U

dimensions obtained for the institutionalization expres- S sions, were normally distributed; however, it was decid- | ed that the distribution of the scores of the institutional S power and formalization dimensions and the overall score were not normal. It was found that the distribution of the overall score for the statements within the scope of neo-institutional theory and corporate governance principles and the scores for the dimensions of transparency, responsibility and institutional pressures obtained from these statements were not normal. Finally, it has been determined that the general score regarding the women's willingness to work expressions and the working conditions dimension obtained from these expressions are not normally distributed, however, the skill/career development dimension obtained from these expressions is normally distributed. Then, it was analysed whether the mean scores of both the overall scores and the dimensions differ according to the categories of demographic variables in the survey. Since the variables of gender and position in the organization have two categories, a pairwise comparison was made while testing whether there was a difference in terms of the categories of these variables. Since the employee's age and educational status variables both have three categories, multiple comparisons were made while testing whether there was a difference according to the categories of these variables.

Independent sample t-test was used for normally distributed variables and Mann-Whitney U test was used for non-normally distributed variables in pairwise comparisons. In multigroup comparisons, parametric one-way ANOVA test was used for normally distributed variables, and Kruskal-Wallis one-way analysis of variance test was used for non-normally distributed variables. Considering the differences by gender, it was determined that the average of the general score of the institutionalization expressions and the average of the formalization dimension, which is the sub-dimension of the institutionalization expressions, showed a significant difference according to gender. In addition, the average general score of the women's willingness to work statements and the average of the skill/career development dimension score obtained within the scope of these statements also showed a significant difference according to gender. It was examined whether there was a difference according to the position in the organization, and it was determined that the average score of the skill/career dimension, which is only among the dimensions of women's willingness to

Respondents' characteristics Frequency (n) Percent (%)

Gender Female 28G 55.3

Male 226 44.7

Employee age 15-24 53 1G.5

25-45 4G4 79.8

46-60 49 9.7

Educational background Primary 68 13.4

Secondary 119 23.5

Higher education 319 63.G

Status within organization Manager 114 22.5

Assistant 392 77.5

Total 5G6 1GG

2 work, differs significantly according to the position in the

3 organization.

£ When the differences according to the age of the em-

g ployees are examined, it has been determined that the

я overall score averages of all three question groups differ

ш according to age. Only the average score of the profes-

< sionalization dimension differs from the institutionaliza-

a.

g tion principles dimension according to age. Among the dimensions within the scope of neo-institutional theory and corporate governance principles, only the average score of the transparency dimension differs according to age. It was concluded that both of the dimensions within the scope of women's willingness to work, namely both the skill/career development dimension and the working conditions dimension, differ according to age. It was examined whether there was a difference according to educational status, and it was found that the average of the general score of the institutionalization expressions and the average score of the formalization dimension within the scope of the institutionalization expressions differed according to the educational status categories. In addition, it was determined that the average of the general score of the women's willingness to work statements and the average score of the skill/career development dimension obtained within the scope of these statements also differed according to the categories of the educational status variable.

Reliability analysis. Reliability analysis is a method to measure the consistency of the statements in the scale. The scale is considered reliable when the Cronbach alpha value is 0.70 or higher (Table 3). The Cronbach alpha value of the statements A1-A18 of the institutionalization process scale is 0.853. Statement A15 (professional manager number is higher than the number of family members) was identified as another dimension, and as its correlation value was calculated 0.278, it was omitted from the scale. The Cronbach alpha value for the 17 statements of the institutionalization process is calculated 0.854, thus, is decided to be reliable. Similarly, neo-institutional theory-corporate governance scale is considered reliable with the Cronbach alpha value of 0.881. The Cronbach alpha value for the women's attitude to work environment quality calculates 0.850, therefore, is reliable.

Table 3 - Results of reliability analysis Таблица 3 - Результаты анализа надежности

Scales Cronbach alpha value

Institutionalization process 0.854

Neo-institutional theory - Principles of corporate governance 0.881

Women's attitude to work environment quality 0.850

Exploratory factor analysis. After reliability was confirmed, exploratory factor analysis, which is a dimension reduction technique, was conducted (Table 4). EFA enables to represent a high number of variables with a low number of variables. Kaiser-Meyer Olkin test (KMO) is used in EFA. The value being close to 1 in the KMO test indicates that the scale has high sufficiency to measure the concerning phenomenon. The Bartlett test, on the other hand, reveals whether there is an adequate relationship between variables. The p-value being less than 0.05 significance level indicates there is an adequate relationship for factor analysis. Analysis showed the KMO value is adequate and the Bartlett test is significant for the three scales. Findings point out that the institutionalization process scale incorporates three subdimensions: profes-sionalization, formalization, and cultural power. Similarly, neo-institutional theory - corporate governance scale encompasses three subdimensions: transparency, responsibility, and institutional pressures. Skill and career development and working conditions are the two subdimensions of women's attitude to work environment quality scale.

Confirmatory factor analysis. Confirmatory factor analysis was used to check the factor structures obtained from exploratory factor analysis. With CFA, goodness of fit indices were utilized to decide how well the gathered data were explained. The model is rejected or approved according to goodness of fit tests. The AMOS program calculates over 30 goodness of fit indices. There is no consensus on which goodness of fit indices to be employed among researchers. Nevertheless, it is accepted to be sufficient to use 4 to 8 indices to explain the model. Chi-square, GFI, NFI, CFI, SRMR, AGFI, RMSEA are among the most frequently used (Table 5).

According to the standardized regression coefficients and goodness of fit table, p-values of all coefficients appear to be statistically significant. This indicates that the coefficients of each factor and the statements that measure the factor are other than zero, in other words, the fac-

Table 4 - Results for exploratory factor analysis Таблица 4 - Результаты исследовательского факторного анализа

Scale KMO Bartlett test

Approx. Chi-Square df Sig.

Institutionalization process 0.877 2645.180 136 0.000

Neo-institutional theory - Principles of corporate governance 0.879 1762.548 78 0.000

Women's attitude to work environment quality 0.850 1391.766 28 0.000

Table 5 - Institutionalization process scale model goodness of fit values ° Таблица 5 - Значения критериев согласия для шкалы «процесс институционализации» 3

Index X2 X2/sd RMSEA SRMR GFI AGFI CFI

Value 263.385 2.331 0.051 0.0444 0.941 0.921 0.941

tor loading is significant.

The confirmatory factor analysis of institutionalization process scale determined that the F1 subdimension consisting of 7 statements is professionalization, the F2 subdimension consisting of 6 statements is cultural power, and the F3 subdimension consisting of 4 statements is formalization (Fig. 2).

.46 v^ao

AI 1 __¡68

,53 ,73,

>| A2 1

,42

>1 A4 1 *

Fig. 2. Institutionalization process scale three-factored

model structure Рис. 2. Структура трехфакторной модели шкалы «процесс институционализации»

Available data of neo-institutional theory - principles

of corporate governance scale is observed to be accord £ with the three-factored model. P-values of all coefficients S are statistically significant. |

According to obtained data, the F1 subdimension of è neo-institutional theory - principles of corporate governance scale consisting of 5 statements is transparency, the F2 subdimension consisting of 4 statements is responsibility, and the F3 subdimension consisting of 4 statements is institutional pressures (Fig. 3).

-38

Fig. 3. Neo-institutional theory - principles of corporate governance scale confirmatory factor analysis factor structure Рис. 3. Факторная структура конфирматорного анализа шкалы «новый институционализм -принципы корпоративного управления»

The exploratory factor analysis conducted for women's attitude to work environment quality scale revealed that the scale is represented with two factors. Goodness of fit values obtained from the confirmatory factor analysis are shown below (see Table 7). According to Table, present data is acceptably accord with the two-factored model

■н s

m м о

M

(Fig. 4). <2^

21 ! e2 )-:—►

,36 1 e3 )-'—►

,37 1 e4 )-►

,56 1 e5 )-►

,18

,18

(22 1 e8 )-:—►

Fig. 4. Women's attitude to work environment quality scale confirmatory factor analysis factor structure Рис. 4. Факторная структура конфирматорного анализа шкалы «отношение женщин к качеству рабочей среды»

According to gathered data, the F1 subdimension of women's attitude to work environment quality scale consisting of 5 statements is skill and career development, the F2 subdimension consisting of 3 statements is working conditions.

Findings of correlation analysis. Correlation analysis tests the linear relationship between two variables. The direction and strength of the relationship is determined. If the variables are normally distributed, Pearson correlation coefficient is used; if they are non-normally distributed, Spearman correlation coefficient is used. As this research includes non-normally distributed variables, the Spearman correlation coefficient was employed. The research model was tested in four different intervals. On the interval scale, there are equal distances between attributes. In case the correlation coefficient is statistically significant, a value below 0.50 indicates it is poor, 0.50 to

0.70 indicates it is moderate, and above 0.70 indicates it is strong.

According to the model, there is a correlation between subdimensions cultural power and institutional pressures, professionalization and responsibility, formalization and transparency (Fig. 5).

The correlation analysis conducted to identify the relationship between the transparency dimension of neo-institutional theory - principles of corporate governance scale and formalization dimension of institutionalization process scale showed that the relationship between "transparency" and "formalization" is statistically significant (p-value < 0.001). The relationship between the two sub-variables is positive (correlation coefficient = 0.267). A rise in transparency increases the formalization level of the organization. Therefore, the H7 hypothesis of the model is verified.

The correlation analysis conducted to identify the relationship between the responsibility dimension of neo-institutional theory - principles of corporate governance scale and professionalization dimension of institutionalization process scale showed that the relationship between "responsibility" and "professionalization" is statistically significant (p-value < 0.001). The relationship between the two sub-variables is positive (correlation coefficient = 0.366). The responsibility principle is a requirement of professional business life. As responsibility increases, professionalization levels increase as well. The H8 hypothesis of the model is verified.

The correlation analysis conducted to identify the relationship between the institutional pressures dimension of neo-institutional theory - principles of corporate governance scale and cultural power dimension of institutionalization process scale showed that the relationship between "institutional pressures" and "cultural power" is statistically significant (p-value < 0.001). The relationship between the two sub-variables is positive (correlation coefficient = 0.402). The increase of cultural-cognitive, normative, and regulatory pressures on the organization leads to increase in purpose, consensus, and commitment levels. The H9 hypothesis is verified.

Analysis of multicollinearity problem between vari-

Neo-institutional theory and principles of corporate governance

Institutional pressures

I ~

Responsibility

I

Transparency

Institutionalization process

Cultural power Professionalization Formalization

Fig. 5. Correlation analysis research model Рис. 5. Модель корреляционного анализа

ables. Variance inflation factor (VIF) and tolerance indices were viewed to determine the existence of multicollinear-ity problem. Usually, VIF values below 10 and tolerance values not being close to 0 (being higher than 0.10) indicate there is no multicollinearity problem. Results about specifying the multicollinearity problem of subdimension variables, which are determined as independent variables, are presented in Table 6. Tolerance values of all subdimension variables are over 0.10, VIF values are below 10. Therefore, there is no multicollinearity problem among the variables in question.

Table 6 - Multicollinearity problem test Таблица 6 - Тест на мультиколлинеарность

Factors Tolerance VIF

Professionalization 0.578 1.730

Cultural power 0.444 2.254

Formalization 0.840 1.191

Transparency 0.435 2.298

Responsibility 0.б13 1.б31

Institutional pressures 0.б9б 1.43б

Hypotheses tests. This part of the research analyses the hypotheses presented in the research model. Hypotheses identified in the institutionalization process model are given below.

H1: In the institutionalization of the organization, there is positive interaction between cultural power and women's attitude to work environment quality.

H2: In the institutionalization of the organization, there is positive interaction between professionalization and women's attitude to work environment quality.

H3: In the institutionalization of the organization,

there is positive interaction between formalization and °

women's attitude to work environment quality. 3

The graphic representation of hypotheses testing is I

given in Fig. 6. g

56.3% of the variance of the dependent variable wom- £

en's attitude to work environment quality is explained by <

the subdimensions of institutionalization process scale: |

professionalization, cultural power, and formalization. x

These three subdimensions have been observed to have ¡¡i

Ш

statistically significant (p-value < 0.001) and positive ef- S fects on women's attitude to work environment quality. | The dimension with the highest effect on women's atti- = tude to work environment quality is professionalization (в = 0.451) followed by formalization (в = 0.255) and cultural power (в = 0.247). These findings show that as long as the cultural structure of the organization changes in favour of female employees, women's work environment quality attitude will change positively. The analyses verified hypotheses H1, H2, and H3.

Hypotheses for neo-institutional theory - principles of corporate governance are presented below and graphically represented in Fig. 7.

H4: There is a positive interaction between the transparency principle of the corporate governance system and women's attitude to work environment quality.

H12: There is a positive interaction between the social responsibility principle of the corporate governance system and women's attitude to work environment quality.

H6: There is a positive interaction between the institutional pressures principle of the corporate governance system and women's attitude to work environment quality.

51.4% of the variance in the women's attitude to work environment quality variable is explained by transparency, responsibility, and institutional pressures, the subdimen-

Fig. 6. Hypotheses test of institutionalization process model Рис. 6. Гипотезы в рамках модели процесса институционализации

Fig. 7. Hypotheses test of neo-institutional theory - principles of corporate governance model Рис. 7. Гипотезы в рамках модели нового институционализма - принципов корпоративного управления

2 sions of neo-institutional theory - principles of corporate

3 governance. The responsibility dimension was found not £ to have a significant effect on women's attitude to work g environment quality (p-value = 0.072 > 0.05). However, £ the transparency and institutional pressures dimensions £ were found to have statistically significant (p-value < < 0.001) and positive effects on women's attitude to work g environment quality. The transparency dimension has

the strongest effect (P = 0.512), the institutional pressures dimension has the weakest effect (P = 0.223) on women's attitude to work environment quality. According to these findings the hypotheses H4 and H6 were verified, however, hypothesis H12 was not verified.

Mediator and moderator effect analysis between variables. In this part of the analysis, the mediator effect of the institutionalization process between neo-institu-tional theory - principles of corporate governance and women's attitude to work environment quality was tested. Hierarchical regression method was used. Tested hypotheses are given below.

H11: Institutionalization process has a mediator effect on the impact of neo-institutional theory - principles of corporate governance on women's attitude to work environment quality.

Firstly, in order to talk about a mediator effect, some conditions are required. There needs to be a significant effect of the independent variable on the mediator variable and on the dependent variable. When the mediator variable is included in the regression analysis in the second step, if an insignificant relationship emerges between independent and dependent variables, this is called a total mediation effect, if the relationship between the two decreases, this is called a partial mediation effect. In this research, women's attitude to work environment quality is the dependent variable, principles of corporate governance is the independent variable, and the institutionalization process is the mediator variable. While testing the hypothesis in question, firstly, two different models were tested according to gender groups, then, two different models were tested based on status within organization. And thus, hypothesis H11 was tested with four different models based on women-men and managers-assistants. The examined model is exhibited in Fig. 8.

Institutional pressures

_z_

Principles of corporate governance

Fig. 8. Mediator effect of the institutionalization process on the impact of principles of corporate governance on women's attitude to work environment quality Рис. 8. Институционализация как медиатор взаимодействия корпоративного управления и отношения женщин к качеству рабочей среды

The effect of the independent variable (corporate governance) on the mediator variable (institutionalization process) (P = 0.708; p-value = 0.000), and on the dependent variable (women's attitude to the work environment quality) (P = 0.636; p-value = 0.000) were observed to be statistically significant. When the principles of corporate governance and institutionalization process are both included in the model, the effect of corporate governance on women's attitude to work environment quality is still statistically significant, however, it is gradually decreasing (P = 0.349; p-value = 0.000). The analysis reveals that there is partial mediation effect for all variables. Thus, hypothesis H11 is verified.

The last part of the analysis comprises the testing of the moderator role of the institutionalization process on the effect of corporate governance principles on women's attitude to work environment quality.

H10: Institutionalization process has a moderator effect on the impact of neo-institutional theory - principles of corporate governance on women's attitude to work environment quality.

The moderator variable used for the analysis of hypothesis H10 was calculated by multiplying corporate governance values and institutionalization process values. Before proceeding with the analysis of the moderator effect, multicollinearity problem was examined between the independent variables to be used in the analysis.

Table 7 - Multicollinearity problem analysis Таблица 7 - Анализ мультиколлинеарности

Variables Tolerance VIF

Institutionalization process 0.025 39.895

Corporate governance 0.051 19.бб3

Institutionalization process x corporate governance 0.011 93.238

Table 7 shows that there is a multicollinearity problem between the independent variables to be used in the analysis of the moderator effect. The tolerance values of the analysis are lower than 0.10 and VIF values are higher than 10. Therefore, the variables were applied z transformation and the moderator effect was then analysed. The analysis results for all sample groups revealed that there is no statistically significant effect of institutionalization process x corporate management on women's attitude to work environment quality (P = -0.009; p-value = 0.978 > 0.05). Therefore, hypothesis H10 was not verified.

DISCUSSION

According to the research findings, the subdimensions of the quality of the working environment are skill/career development and working conditions, and that women's attitudes towards the quality of the working environment will be positively affected through skill activities both on-the-job and out-of-the job. It has been determined that

4

Women's attitude work on environment quality

the agreement, the unity of ideas and beliefs among the employees on difficult issues will improve the quality of the working environment.

The concept of work environment quality, which Abdioglu [2007] stated in his doctoral thesis, but was not tested empirically, was tested in terms of female employees. As Abdioglu put it in his research, the corporate management system has positive effects on the quality of the working environment conditions.

In their study, Basim and Güler [2015] established that the candidates' attitudes towards the attractiveness of the organization and the company's reputation, which reflects the collective evaluation of the society about the organization, have a significant effect on the candidate's intention to join the organization. Corporate governance principles increase the legitimacy of the organization through social responsibility and bring qualified employees to the organization. It has been perceived that organizations with a strong institutional structure are attractive and preferred, whether they are active employees or students in the position of candidates. Even though the variables are different, the results of our research and the mentioned research are similar.

In the study by Co§kun and Akcan [2018], it is stated that with the application of corporate governance principles, job satisfaction will increase and thus the organization will gain attractiveness for employees. Although the variables are different, the existence of corporate governance principles that have an effect on increasing the quality of work in terms of employees is similar in terms of acquiring and retaining employees with high human capital, which we mentioned in the research.

In the study by Surienty et al. [2014], it is seen that the increase in the quality of working life negatively affects the intention to leave the job. Though the dependent and independent variables in our study were different, it was understood that the two studies reached similar findings when considered the other way around, as it was seen that the quality of the work environment positively affected the quality of skills development and working conditions.

In Burak's [2017] research, it was concluded that corporate governance principles, which consist of transparency, fairness/equality, responsibility, accountability, social awareness, independence and discipline variables, are related to business performance. In the analysis, it is seen that the human resources practices created for the internal stakeholder group of the enterprise, corporate governance principles and the financial and growth performance of the enterprise have a partial mediation effect. The research found that institutionalization has a partial mediation effect on the influence of corporate governance principles on women's attitude to the quality of working environment, and the severity of this effect is gradually decreasing. The research results are similar to the mentioned research result.

In the research of Williams, Zhou and Zou [2020], it ° was questioned under which conditions a job would be 3 defined as a good job. In the study, in which skill develop- I ment, job security and the nature of the job were evalu- g ated by the employees, it was seen that there was a hierar- £ chy between the dimensions of job quality and different < dimensions of job quality were placed in different order | of importance in the eyes of the employees. The effect of x corporate governance principles on business quality was ¿í not directly investigated in the research. Nonetheless, it S was observed that the finding of hierarchical ordering of | the differences between the dimensions of job quality in S order of importance from the perspective of the employee confirmed the fair wage and reward distribution, safe and healthy working conditions, and skill/career development activities that came to the fore in our research. The importance of job quality dimensions changes from the perspective of the employee. The findings of our study and Williams' findings confirm each other.

CONCLUSION

According to this research, the more formalization and professionalization increase, the more women are included in the organization. Another crucial finding is that women tend to prefer organizations managed professionally and place importance on transparency. Internalizing corporate management system in the organization enables the construction of a solid organization structure and facilitating of a trust environment. It is observed that transparency and accountability in an organization provide long-term, continuous employment opportunities for women.

Another finding of the research is that in Turkey, corporate social responsibility has no effect on women's attitude to work environment quality. This is due to entrenched patriarchal policies. In other words, more women are employed in compliance with social responsibility projects and Global Compact; however, this has no reformative effect on work environment quality for women.

As mentioned before, the institutionalization process has a partial mediator role in the effect of neo-institution-al theory - principles of corporate governance on work environment quality. The institutionalization process decelerates the positive and fast effects of corporate governance system on employment. When the organization embraces the corporate governance system and pushes institutionalization process to the background, positive effects of corporate governance on employment are accelerating.

The institutionalization process has no moderator effect on the impact of neo-institutional theory - principles of corporate governance on the work environment quality. This finding shows that, specific to Turkey, positive effects in work life regulations for women do not reflect to the labour market due to patriarchal workforce relationships. Not being able to construct healthy bridges

g improving work quality is the proof of the impact of patri-3 archal labour force.

£ Positive effects of corporate governance on the work-g force market are observed. Nevertheless, patriarchal resi-£ dues of the national labour system disable the positive ef-£ fects of regulations. Despite positive effects of corporate | governance system on work quality improvement, the in-1 ability to construct healthy bridges enhancing work quality depending on regulation supports the findings of our mediator/moderator variable analysis.

Economic recessions and social regressions are observed throughout history. In the last fifty years, inequalities in the labour markets have been increasing worldwide. In today's discontinuous-protean career model, employees steer their own careers. During times of crises, first ones to be laid off are women as a consequence of patriarchal imposition. In terms of employment policies, women are affected less from crises in organizations with solid institutional structure.

In organizations applying institutionalization processes and principles of corporate governance, for improving women's success, it is useful to change organization culture in a way to improve cooperation and trust, to create new work fields and secondary management levels for women. It is in favour of women to redesign work

organization embracing work ethics based on rights, instead of kindness based social responsibility. The finding that workforce participation will increase when women's education levels increase is valid for women with high education. In today's patriarchal labour markets, it is not possible for women to stay in employment only by applying corporate governance principles. To be permanent and successful in the active workforce, it is necessary for women to develop special skills and career development processes in organizations. Adopting organization policies towards including low-skilled women in the labour force and keeping them continuously, planning skill and career improvement programmes, expanding cooperation culture increase the success prospect of the corporate governance system for women.

The most important method to resolve employment issues of women during economic recession periods is to locate women in the centre of execution plans. It is crucial to determine how they will be affected by each incentive, support, and policy. Differences based on countries, regions, and sectors are to be taken into consideration in designing employment policies. Otherwise, each deficient solution will require another reform. As deepened employment problems of women, effective solutions depend on constructing concrete organizational structures.

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Press. https://doi.org/10.5465/19416520.2010.495581 Golembiewski R.T., McConkie M. (1975). The centrality of interpersonal trust in group processes (pp. 131-185). In: Cooper G.L.

(Ed.). Theories of group processes. John Wiley & Sons. Greenwood R., Hinings C.R. (1996). Understanding radical organizational change: Bringing together the old and the new insti-

tutionalism. The Academy of Management Review, vol. 21, no. 4, pp. 1022-1054. https://doi.org/10.2307/259163 Greenwood R., Suddaby R., Hinings C.R. (2002). Theorizing change: The role of professional associations in the transformation of institutionalized fields. The Academy of Management Journal, vol. 45, no. 1, pp. 58-80. https://doi.org/10.2307/3069285 Grosser K. (2009). Corporate social responsibility and gender equality: Women as stakeholders and the European Union sustainability strategy. Business Ethics: A European Review, vol. 18, no. 3, pp. 290-307. https://doi.org/10.1111/j.1467-608.2009.01564.x

Haat M.C., Raman H.R., Mahenthiran S. (2008). Corporate governance, transparency and performance of Malaysian companies.

Managerial Auditing Journal, vol. 23, no. 8, pp. 744-778. https://doi.org/10.1108/02686900810899518 Hannan M.T., Freeman J. (1977). The population ecology of organizations. American Journal of Sociology, vol. 82, no. 5,

pp. 929-964. https://www.jstor.org/stable/2777807 Hechter M., Opp K.D., Wippler R. (1990). Social institutions, their emergence, maintenance and effects. New York: Routledge.

https://doi.org/10.4324/9781351328807 Hosmer L.T. (1995). The connecting link between organizational theory and philosophical ethics. The Academy of Management

Review, vol. 20, no. 2, pp. 379-403. https://doi.org/10.2307/258851 Jones R.G. (2017). Organizational theory, design, and change. Ankara: Gazi Bookstore.

Kaufman D., Vishwanath T. (1999). Towards transparency in finance and governance. The World Bank Working Paper. http://

dx.doi.org/10.2139/ssrn.258978 Kaur A. (2016). Quality of work life. International Journal of Engineering Science and Computing, vol. 6, no. 7, pp. 8305-8311. Ko$ H., Aylan S. (2017). A scale development study to determine institutionalization criteria of enterprises. Gazi University Journal of The Faculty of Economics and Administrative Sciences, vol. 19, no. 2, pp. 564-582. McAuley J., Duberley J., Johnson P. (2019). Proposals of institutional theory to understand management and organization, organizational theory challenges and perspectives. Istanbul: Nobel Publishing. Meyer W.J., Rowan B. (1977). Institutionalized organizations: Formal structure as myth and ceremony. American Journal of Soci-

ology, vol. 83, no. 2, pp. 340-363. https://doi.org/10.1086/226550 °

Middleton R. (1963). Alienation, race and education. American Sociological Review, vol. 28, no. 6, pp. 973-977. https://doi. g org/10.2307/2090316 §

Millstein I. (2000). Corporate governance: The role of market forces, organisation for economic cooperation and development. « The OECD Observer, no. 221/222, pp. 27-28. 8

Oktay F. (2020). "China" new great power and changing world balances. Turkey Business Bank, Cultural Publications, IV. Edition, g Istanbul. g

Oliver C. (1988). The collective strategy framework: An application to competing predictions of isomorphism. Administrative ® Science Quarterly, vol. 33, no. 4, pp. 543-561. https://doi.org/10.2307/2392643 |

Ring P.S., Van de Ven A.H. (1992). Structuring cooperative relationships between organizations. Strategic Management Journal, S vol. 13, no. 7, pp. 483-498. https://doi.org/10.1002/smj.4250130702 Sj

Scott W.R. (1987). The adolescence of institutional theory. Administrative Science Quarterly, vol. 32, no. 4, pp. 493-511. https:// § doi.org/10.2307/2392880 |

Scott W.R. (1995). Institutions and organizations. New Delhi and London: Sage Publications, First Edition, Thousand Oaks. Scott W.R. (2008). Approaching adulthood: The maturing of institutional theory. Theory and Society, vol. 37, pp. 427-442.

https://doi.org/10.1007/s11186-008-9067-z Scott W.R., Davis F.G. (2007). Rational, natural and open system perspectives. Pearson International Edition. Seeman M. (1959). On the meaning of alienation. American Sociological Review, vol. 24, no. 6, pp. 783-791. DOI: 10.2307/2088565 Selznick P. (1957). Leadership in administration. Harper & Row: New York.

Shleifer A., Vishny R.A. (1996). Survey on corporate governance. National Bureau of Economic Research Working Paper, no. 5554,

pp. 1-80. https://doi.org/10.3386/w5554 Sirgy M.J., Efraty D., Siegel P., Lee D.J. (2001). A new measure of quality of work life (QWL) based on need satisfaction and spillover theories. Social Indicators Research, vol. 55, pp. 241-302. https://doi.org/10.1023/A:1010986923468 Suchman M.C. (1995). Managing legitimacy: Strategic and institutional approaches. The Academy of Management Review, vol.

20, no. 3, pp. 571-610. https://doi.org/10.5465/amr.1995.9508080331 Surienty L., Ramayah T., May-Chiun L., Tarmizi A.N. (2014). Quality of work life and turnover intention: a partial least square (PLS)

approach. Social Indicators Research, pp. 405-420. https://doi.org/10.1007/s11205-013-0486-5 Tolbert P., Hall R.R. (2009). Organizations, structures, processes and outcomes. Pearson International Edition. Walby S. (1989). Theorizing patriarchy. Sociology, vol. 23, no. 2, pp. 213-234. https://doi.org/10.1177/0038038589023002004 Walton R.E. (1975). Criteria for quality of work life. In: Davis L.E. et al. Quality of working life: Problems, projects and the state of the

art (pp. 91-104). New York: Macmillian. Williams M., Zhou Y., Zou M. (2020). The quality of working life across the occupational structure, "what makes work good?".

Bristol University Press, JSTOR Published, pp 29-49. Yildiz H., Okan T. (2019). In organizations power and politics, "institutional theory and power". Istanbul: Beta Publishing. Zucker L. (1985). Production of trust: Institutional sources of economic structure, 1840 to 1920. Working Paper Series 82. California University Press, pp. 1-91.

Information about the authors Информация об авторах

Yildiz Yilmaz Guzey

PhD, Professor of Business Administration Dept. Beykent University, Istanbul, Turkey. E-mail: yildizguzey@beykent.edu.tr

Boray Ugraf

PhD, Social Security Inspector. Social Security Foundation of Turkey, Istanbul, Turkey. E-mail: brugras@gmail.com

Гюзей Йылдыз Йылмаз

PhD, профессор кафедры бизнес-администрирования. Университет Бейкент, г. Стамбул, Турция. E-mail: yildizguzey@bey-kent.edu.tr

Уграш Борай

PhD, инспектор социального обеспечения. Фонд социального страхования, г. Стамбул, Турция. E-mail: brugras@gmail.com