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Vekâlet Kuramına Göre Türkiye’deki Otellerin Pazara Giriş Stratejilerinin Değerlendirilmesi

Year 2020, Issue: 88, 145 - 168, 30.06.2020
https://doi.org/10.26650/imj.2020.88.0006

Abstract

Bu araştırmada işletmelerin pazara giriş stratejilerine göre yaşanan vekâlet sorunlarından ahlaki tehlike ve ters seçim riski ile karşılaşma olasılıkları arasındaki farklılık durumları incelenmiştir. Bu kapsamda Türkiye’de faaliyet gösteren 5 yıldızlı otel işletmelerinde yönetici pozisyonunda çalışan (asil ve vekil) 46 kişi ile derinlemesine mülakat gerçekleştirilmiştir. Elde edilen veriler NVivo 12 Pro paket programında analiz edilmiştir. Araştırma sonuçlarına göre ahlaki tehlike boyutu altında haksız kazanç, mevzuata uygunluk ve sözleşmenin feshine ilişkin üç temel kod belirlenirken, ters seçim riski boyutu ise bedavacılık ve güven kodları altında ele alınmıştır. Katılımcı ifadelerine göre seçilen pazara giriş stratejilerine göre yaşanan ahlaki tehlike ve ters seçim riskinin oranı arasında anlamlı bir fark olmadığı ortaya konulmuştur. Buna karşın otel işletmelerinin yapısı gereği gerçekleştirilen denetlemelerin özellikle zincir işletmelerde hem marka tarafından, hem de yasal olarak yapılmasının ahlaki tehlike ve ters seçim riskini azalttığı söylenebilir. Katılımcıların ifadelerine göre bazı otel işletmelerinde birden fazla pazara giriş şeklinin aynı anda tercih edildiği görülmektedir, bunun ekonomik nedenleri olduğu gibi vekâlet problemlerinin önlenmesinde yönelik de olduğu söylenebilir. 

Supporting Institution

Yazarlar bu çalışma için finansal destek almadığını beyan etmiştir.

References

  • Akerlof, G. A. (1970). The Market for "Lemons": Quality Uncertainty and the Market Mechanism. The Quarterly Journal of Economics, pp. 488-500, Vol. 84, No. 3.
  • Almazan, A., & Suarez, J. (2003). Entrenchment and Severance Pay in Optimal Governance Structures. The Journal of Finance, 58(2), 519-547.
  • Altunışık, R., Coşkun, R., Bayraktaroğlu, S., & Yıldırım, E. (2012). Sosyal Bilimlerde Araştırma Yöntemleri (7. baskı b.). Sakarya: Sakarya Kitabevi.
  • Barthélemy, J. (2008). Opportunism, Knowledge, and the Performance of Franchise Chains. Strategic Management Journal, 29(13), 451-1463.
  • Carney, M., & Gedajlovic, E. (1991). Vertical Integration in Franchise Systems: Agency Theory and Resource Explanations. Strategic Management Journal, 12(8), 607-629.
  • Dimou, I., Chen, J., & Archer, S. (2003). The Choice Between Management Contracts and Franchise Agreements in the Corporate Development of International Hotel Firms. Journal of Marketing Channels, 10(3/4), 33-52.
  • Garg, V. K., & Rasheed, A. A. (2003). International Multi-Unit Franchising: An Agency Theoretic Explanation. International Business Review, 12, 329–348.
  • Gillis, W. E., & Combs, J. G. (2009). Beyond Agency Theory: A Resource-Based Explanation for Franchising and Franchisor Performance. Academy of Management Proceeding.
  • Griessmair, M., Hussain, D., & Windsperger, J. (2014). Trust and the Tendency Towards Multi-Unit Franchising: A Relational Governance View. Journal of Business Research, 2337–2345.
  • Gul, F. A., Srinidhi, B., & Ng, A. C. (2011). Does Board Gender Diversity Improve the Informativeness of Stock Prices? Journal of Accounting and Economics, 51, 314–338.
  • Holmstrom, B. (1979). Moral Hazard and Observability. The Bell Journal of Economics, pp. 74-91, Vol. 10, No. 1., Spring.
  • Hussain, D., & Windsperger, J. (2010). Multi-Unit Ownership Strategy in Franchising: Development of an Integrative Model. Journal of Marketing Channels, 17, 3-31.
  • Koçel, T. (2013). İşletme Yöneticiliği. İstanbul: Beta Basım Yayın Dağıtım A.Ş.
  • Lindqvist, C., & Dusjan, M. (2012). Does Agency Theory or Stewardship Theory Apply to The Venture Capitalist-Entrepreneur Relationship? (S. Sjögren, Derleyici) Göteborg: Handelshögskolan vid Göteborgs Universitet. 02 24, 2018 tarihinde https://gupea.ub.gu.se/bitstream/2077/33255/1/gupea_2077_33255_1.pdf adresinden alındı.
  • Mitnick, B. M. (1973). Fiduciary Rationality and Public Policy The Theory of Agency and Some Consequences. New Orleans: Annual Meeting of the American Political Science Association.
  • Morrison, K. (1995). Why Do Firms Franchise? A Test of Two Theoritical Perspectives. Journal of Small Business and Entrepreneurship, 12, 84-100.
  • Preece, D. C., Mullineaux, D. J., Filbeck, G., & Dennis, S. A. (2004). Agency theory and the House bank affair. Review of Financial Economics, pp. 259–267.
  • Ross, S. A. (1973). The Economic Theory of Agency The Principal's Problem. American Economic Assocation, pp. 134-139, Vol. 63, No 2.
  • Smith, T. R. (2011). Agency Theory and Its Consequences: A study of the unintended effect of Agency Theory on Risk and Morality. Copenhagen: Master Thesis at Copenhagen Business School. Ağustos 2018, 28 tarihinde https://studenttheses.cbs.dk/bitstream/handle/10417/2798/thomas_ruediger_smith.pdf adresinden alındı.
  • Tiwana, A., & Bush, A. A. (2007). A Comparison of Transaction Cost, Agency, and Knowledge-Based Predictors of IT Outsourcing Decisions: A U.S.–Japan Cross-Cultural Field Study. Journal of Management Information Systems, 24(1), 259-300.
  • Vroom, G., & Gimeno, J. (2007). Ownership Form, Managerial Incentives, and the Intensıty of Rivalry. Academy of Management Journal, 50(4), 901–922.
  • Wilson, C. (1977). A Model of Insurance Markets with Incomplete Information. Journal of Economic Theory, Pp. 167-207, Volume 16, Issue 2, December.
  • Yıldırım, K. (2017, Ocak 14). Nitel Araştırmalarda Niteliği Arttırma. İlköğretim Online: http://ilkogretim-online.org.tr/vol9say1/v9s1m8.pdf adresinden alındı.
  • Zacharakis, A. L., & Eshghi, G. (1997). Government’s Role In Exporting By Entrepreneurial Organizations: An Agency Perspective. The International Trade Journal, XI(1).

An Assessment of Market Entry Strategies of Hotels in Turkey Based on Agency Theory

Year 2020, Issue: 88, 145 - 168, 30.06.2020
https://doi.org/10.26650/imj.2020.88.0006

Abstract

This study evaluates the probability of encountering a moral hazard and risk of adverse selection, which are among agency problems originated from the market entry strategies of enterprises. In this context, we conducted in depth interviews with 46 people who were hotel managers (principal and agent) at five-star hotels operating in Turkey. The data of the study was analyzed in the NVivo 12 Pro package program. We determined three main codes for a “moral hazard” dimension, which were unfair earnings, compliance with the legislation and termination of the contract, and evaluated “risk of adverse selection” dimension via free-riding and trust codes. Our results revealed that according to reports of the participants, there was no difference in the rates of encountering a moral hazard or risk of adverse selection with regard to the market entry strategy. On the other hand, it can be concluded that conducting an audit that hotel management carries out routinely reduces the risk of moral hazard and adverse selection, especially in chain enterprises, both brand and legal audits should be performed. Reports of the participants demonstrated that some hotel enterprises chose to use more than one market entry strategy concurrently. Preventing agency problems as well as economizing may be the purpose of their choices.

References

  • Akerlof, G. A. (1970). The Market for "Lemons": Quality Uncertainty and the Market Mechanism. The Quarterly Journal of Economics, pp. 488-500, Vol. 84, No. 3.
  • Almazan, A., & Suarez, J. (2003). Entrenchment and Severance Pay in Optimal Governance Structures. The Journal of Finance, 58(2), 519-547.
  • Altunışık, R., Coşkun, R., Bayraktaroğlu, S., & Yıldırım, E. (2012). Sosyal Bilimlerde Araştırma Yöntemleri (7. baskı b.). Sakarya: Sakarya Kitabevi.
  • Barthélemy, J. (2008). Opportunism, Knowledge, and the Performance of Franchise Chains. Strategic Management Journal, 29(13), 451-1463.
  • Carney, M., & Gedajlovic, E. (1991). Vertical Integration in Franchise Systems: Agency Theory and Resource Explanations. Strategic Management Journal, 12(8), 607-629.
  • Dimou, I., Chen, J., & Archer, S. (2003). The Choice Between Management Contracts and Franchise Agreements in the Corporate Development of International Hotel Firms. Journal of Marketing Channels, 10(3/4), 33-52.
  • Garg, V. K., & Rasheed, A. A. (2003). International Multi-Unit Franchising: An Agency Theoretic Explanation. International Business Review, 12, 329–348.
  • Gillis, W. E., & Combs, J. G. (2009). Beyond Agency Theory: A Resource-Based Explanation for Franchising and Franchisor Performance. Academy of Management Proceeding.
  • Griessmair, M., Hussain, D., & Windsperger, J. (2014). Trust and the Tendency Towards Multi-Unit Franchising: A Relational Governance View. Journal of Business Research, 2337–2345.
  • Gul, F. A., Srinidhi, B., & Ng, A. C. (2011). Does Board Gender Diversity Improve the Informativeness of Stock Prices? Journal of Accounting and Economics, 51, 314–338.
  • Holmstrom, B. (1979). Moral Hazard and Observability. The Bell Journal of Economics, pp. 74-91, Vol. 10, No. 1., Spring.
  • Hussain, D., & Windsperger, J. (2010). Multi-Unit Ownership Strategy in Franchising: Development of an Integrative Model. Journal of Marketing Channels, 17, 3-31.
  • Koçel, T. (2013). İşletme Yöneticiliği. İstanbul: Beta Basım Yayın Dağıtım A.Ş.
  • Lindqvist, C., & Dusjan, M. (2012). Does Agency Theory or Stewardship Theory Apply to The Venture Capitalist-Entrepreneur Relationship? (S. Sjögren, Derleyici) Göteborg: Handelshögskolan vid Göteborgs Universitet. 02 24, 2018 tarihinde https://gupea.ub.gu.se/bitstream/2077/33255/1/gupea_2077_33255_1.pdf adresinden alındı.
  • Mitnick, B. M. (1973). Fiduciary Rationality and Public Policy The Theory of Agency and Some Consequences. New Orleans: Annual Meeting of the American Political Science Association.
  • Morrison, K. (1995). Why Do Firms Franchise? A Test of Two Theoritical Perspectives. Journal of Small Business and Entrepreneurship, 12, 84-100.
  • Preece, D. C., Mullineaux, D. J., Filbeck, G., & Dennis, S. A. (2004). Agency theory and the House bank affair. Review of Financial Economics, pp. 259–267.
  • Ross, S. A. (1973). The Economic Theory of Agency The Principal's Problem. American Economic Assocation, pp. 134-139, Vol. 63, No 2.
  • Smith, T. R. (2011). Agency Theory and Its Consequences: A study of the unintended effect of Agency Theory on Risk and Morality. Copenhagen: Master Thesis at Copenhagen Business School. Ağustos 2018, 28 tarihinde https://studenttheses.cbs.dk/bitstream/handle/10417/2798/thomas_ruediger_smith.pdf adresinden alındı.
  • Tiwana, A., & Bush, A. A. (2007). A Comparison of Transaction Cost, Agency, and Knowledge-Based Predictors of IT Outsourcing Decisions: A U.S.–Japan Cross-Cultural Field Study. Journal of Management Information Systems, 24(1), 259-300.
  • Vroom, G., & Gimeno, J. (2007). Ownership Form, Managerial Incentives, and the Intensıty of Rivalry. Academy of Management Journal, 50(4), 901–922.
  • Wilson, C. (1977). A Model of Insurance Markets with Incomplete Information. Journal of Economic Theory, Pp. 167-207, Volume 16, Issue 2, December.
  • Yıldırım, K. (2017, Ocak 14). Nitel Araştırmalarda Niteliği Arttırma. İlköğretim Online: http://ilkogretim-online.org.tr/vol9say1/v9s1m8.pdf adresinden alındı.
  • Zacharakis, A. L., & Eshghi, G. (1997). Government’s Role In Exporting By Entrepreneurial Organizations: An Agency Perspective. The International Trade Journal, XI(1).
There are 24 citations in total.

Details

Primary Language Turkish
Subjects Business Administration
Journal Section Articles
Authors

Ece Zeybek Yılmaz 0000-0002-6708-9017

Göksel Ataman Berk 0000-0003-3234-7490

Publication Date June 30, 2020
Submission Date March 26, 2020
Published in Issue Year 2020 Issue: 88

Cite

APA Zeybek Yılmaz, E., & Ataman Berk, G. (2020). Vekâlet Kuramına Göre Türkiye’deki Otellerin Pazara Giriş Stratejilerinin Değerlendirilmesi. Istanbul Management Journal(88), 145-168. https://doi.org/10.26650/imj.2020.88.0006
AMA Zeybek Yılmaz E, Ataman Berk G. Vekâlet Kuramına Göre Türkiye’deki Otellerin Pazara Giriş Stratejilerinin Değerlendirilmesi. Istanbul Management Journal. June 2020;(88):145-168. doi:10.26650/imj.2020.88.0006
Chicago Zeybek Yılmaz, Ece, and Göksel Ataman Berk. “Vekâlet Kuramına Göre Türkiye’deki Otellerin Pazara Giriş Stratejilerinin Değerlendirilmesi”. Istanbul Management Journal, no. 88 (June 2020): 145-68. https://doi.org/10.26650/imj.2020.88.0006.
EndNote Zeybek Yılmaz E, Ataman Berk G (June 1, 2020) Vekâlet Kuramına Göre Türkiye’deki Otellerin Pazara Giriş Stratejilerinin Değerlendirilmesi. Istanbul Management Journal 88 145–168.
IEEE E. Zeybek Yılmaz and G. Ataman Berk, “Vekâlet Kuramına Göre Türkiye’deki Otellerin Pazara Giriş Stratejilerinin Değerlendirilmesi”, Istanbul Management Journal, no. 88, pp. 145–168, June 2020, doi: 10.26650/imj.2020.88.0006.
ISNAD Zeybek Yılmaz, Ece - Ataman Berk, Göksel. “Vekâlet Kuramına Göre Türkiye’deki Otellerin Pazara Giriş Stratejilerinin Değerlendirilmesi”. Istanbul Management Journal 88 (June 2020), 145-168. https://doi.org/10.26650/imj.2020.88.0006.
JAMA Zeybek Yılmaz E, Ataman Berk G. Vekâlet Kuramına Göre Türkiye’deki Otellerin Pazara Giriş Stratejilerinin Değerlendirilmesi. Istanbul Management Journal. 2020;:145–168.
MLA Zeybek Yılmaz, Ece and Göksel Ataman Berk. “Vekâlet Kuramına Göre Türkiye’deki Otellerin Pazara Giriş Stratejilerinin Değerlendirilmesi”. Istanbul Management Journal, no. 88, 2020, pp. 145-68, doi:10.26650/imj.2020.88.0006.
Vancouver Zeybek Yılmaz E, Ataman Berk G. Vekâlet Kuramına Göre Türkiye’deki Otellerin Pazara Giriş Stratejilerinin Değerlendirilmesi. Istanbul Management Journal. 2020(88):145-68.