Abstract
In this study, Debt / Total Assets and Debt / Equity ratios of manufacturing industry enterprises included in BIST corporate governance index are examined annually between the years 2005-2013. In the study, where the relevant ratios have been examined over the years, the direction of change in the capital structure by utilizing corporate governance index with the help of panel and dynamic panel methods has been tried to be explicated. In analyses performed on manufacturing industry enterprises reveal that there is a significant increase both in Debt / Total Assets and Debt / Equity ratios following the inclusion of those enterprises in the corporate governance index. The results of the study indicate a statistically significant increase in the indebtedness of the manufacturing industry enterprises included in the corporate governance index.
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