THE RELATIONSHIP BETWEEN EQUITY PARTICIPATION AND PUBLIC TARGET STATUS: CROSS-BORDER ACQUISITION IN TURKEY

Year 2017, Volume: 2 Issue: 2, 1 - 10, 27.02.2017

Sibel Ayas Özlem Yaşar Uğurlu

https://doi.org/10.25204/iktisad.293394

Cited By: 3

Abstract

The question of what
percentage of the target company should be acquired in cross-border
acquisitions is a critical decision. The percentage of equity sought has both
risks and returns. Therefore, it affects the success and survival of the
companies. The purpose of this study is to examine the impact of the target
company's public status on the percentage of equity sought. According to this,
acquisition activities between 2006 and 2015 performed by companies from 23
different countries in Turkey were examined. In this context, 113 acquisition
activities have been identified. If the target company has public status,
acquirer companies prefer buying partial acquisition to full acquisition.

Keywords

Cross-border Acquisitions, Public Target Companies

SINIR-ÖTESİ ŞİRKET SATIN ALMALARINDA SATIN ALMA ORANI İLE HEDEF ŞİRKETİN HALKA AÇIK OLMASI ARASINDAKİ İLİŞKİ: TÜRKİYE ÖRNEĞİ

Abstract

Sınır-ötesi gerçekleştirilen satın almalarda
hedef şirketin yüzde kaçının satın alınması gerektiği konusu kritik bir
karardır. Ne oranda satın alma yapıldığının hem riskleri hem de getirileri
vardır. Dolayısıyla firmaların başarılarını ve hayatta kalmalarını etkiler. Bu
çalışmanın amacı ise, hedef şirketin halka açık olmasının satın alma oranı
üzerindeki etkisini incelemektir. Buna göre, 2006-2015 yılları arasında 23
farklı ülkeden alıcı firmanın Türkiye’de gerçekleştirdiği şirket satın alma
faaliyetleri incelenmiştir. Bu bağlamda 113 satın alma faaliyeti belirlenmiş ve
hedef şirket halka açık ise daha az oranda satın alma yapıldığı görülmüştür.

Keywords

Sınır-ötesi Şirket Satın Almaları, Halka Açık Şirketler

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