The Relationship Between Ownership Structure and R&D Intensity: A Research on Chemicals Petroleum Rubber and Plastic Products Sector

Year 2022, Volume: 7 Issue: 2, 449 - 457, 30.12.2022

Adem Ruhan Sönmez

Abstract

In this study, the effect of ownership structure on Research and Development intensity was investigated. In this context, the institutional investor rate, foreign investor rate and ownership concentration were used as ownership structure indicators. The data set of the research includes the annual data of 22 companies included in the BIST Chemicals, Petroleum Rubber and Plastic Products for the years 2012-2020. Dynamic panel data analysis method (GMM) was used to analyse the data. As a result of the study, negative relationship between institutional investor rate and Research and Development intensity; a positive relationship was found between foreign investors and ownership concentration.

Keywords

Ownership Structure, R&D Intensity, Dynamic Panel Data Analysis

Sahiplik Yapısı ve Ar-Ge Yoğunluğu Arasındaki İlişki: Kimya İlaç Petrol Lastik ve Plastik Ürünler Sektörü Üzerine Bir Araştırma

Abstract

Bu çalışmada sahiplik yapısı ile Araştırma ve Geliştirme yatırımları arasındaki ilişki araştırılmıştır. Bu kapsamda sahiplik yapısı göstergesi olarak kurumsal yatırımcı oranı, yabancı yatırımcı oranı ve yoğun sahiplik oranı değişkenleri kullanılmıştır. Araştırmanın veri seti, Borsa İstanbul’da hisse senetleri işlem gören ve Kimya, İlaç, Petrol, Lastik ve Plastik Ürünler Sektöründe faaliyet gösteren 22 şirketin 2012-2020 yılları arasına ait yıllık verilerinden oluşmaktadır. Verilerin analizinde dinamik panel veri analizi kullanılmıştır. Araştırma sonucunda; kurumsal yatırımcı oranı ile araştırma ve geliştirme yatırımları arasında negatif ilişki; yabancı yatırımcı ve yoğun sahiplik oranı arasında pozitif ilişki tespit edilmiştir. Bu bağlamda kurumsal yatırımcı oranında meydana gelen değişim Araştırma ve Geliştirme yatırımlarını azaltırken, yabancı yatırımcı ve yoğun sahiplik oranında meydana gelen değişim Araştırma ve Geliştirme yatırımlarını artırmaktadır.

Keywords

Sahiplik Yapıs, Ar-Ge Yoğunluğu, Dinamik Panel Veri Analizi

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