This study examines the role of corporate governance in moderating the relationship between financial risk and the cost of goods sold (COGS) among firms listed on the Istanbul Stock Exchange between 2018 and 2024. The period was selected for its accessibility to transparent financial information and the diversity of listed companies. To ensure a statistically homogenous sample, the study employs a systematic elimination method, excluding financial intermediation firms for uniformity. Companies must have been initially listed in 2018, regularly traded at least quarterly throughout the research period, and have sufficient data available for analysis. Based on these criteria, a final sample of 25 companies representing various sectors was selected to enhance the generalizability of the findings.The study utilizes financial data from annual reports, board of directors’ activity reports to shareholders’ annual general meetings, and reliable financial sources. Theoretical foundations are explored through a comprehensive literature review, incorporating specialized academic publications. Findings highlight the significance of governance mechanisms, such as board composition and transparency, in mitigating financial risks and optimizing cost structures. By adhering to rigorous selection criteria and utilizing comprehensive data sources, the research aims to provide robust insights into corporate disclosure practices among Istanbul Stock Exchange-listed companies. This study contributes to the academic discourse on corporate governance and financial transparency, offering valuable implications for stakeholders, regulators, and corporate managers seeking to optimize governance practices and enhance financial reporting transparency.
