Sınır Ötesi Şirket Satın Alma İşlemlerine Genel Bakış: 1998 - 2018 Dönemi Türk Şirketleri Üzerine Bir İnceleme

Öz

Sınır ötesi gerçekleştirilen şirket satın alma faaliyetleri tüm dünyada olduğu gibi Türk şirketlerinin de ilgisini çekmektedir. Bu çalışmanın amacı ise, hedef ya da alıcı şirketlerden birinin Türk diğerinin yabancı olduğu satın alma faaliyetlerini incelemek ve genel bir çerçeve sunmaktır. Bu çalışmada kullanılan veriler Zephyr isimli veri tabanından elde edilmiştir. 1998-2018 yılları arası yirmi yıllık dönem içerisinde gerçekleştirilen Türklerin yurt dışında yaptığı 275 işlem ile yabancı firmaların Türkiye’de gerçekleştirdiği 883 satın alma işlemi araştırmanın kapsamını oluşturmuştur. Yapılan analizlerin sonucu satın alma işlemlerinin genellikle Avrupalı firmalarla gerçekleştirildiğini göstermiştir. İşlem sayısı ve işlem hacmi yıllar itibariyle değişkenlik göstermektedir. En fazla satın alma faaliyetinin gerçekleştirildiği sektörler finans ve imalat sektörleri olarak dikkat çekmektedir. Genel olarak yatay olmayan satın alma işlemlerinin yatay satın alma işlemlerine göre daha fazla sayıda olduğu görülmüştür.

Anahtar Kelimeler

• Sınır ötesi şirket satın alma
• Yabancı Doğrudan Yatırım
• Türkiye

An Overview of Cross-Border Acquisitions: A Study on Turkish Companies in the Period 1998-2018

Abstract

Cross border acquisitions attract the attention of Turkish firms as well as other multinational firms all over the world. The purpose of this study is to examine cross border acquisitions where either target or acquirer firm is a Turkish company and to provide a general framework. The data used in this study was obtained from the database named Zephyr. For twenty-year period between the years 1998-2018, 275 transactions by Turkish acquirers and 883 transactions by Turkish target companies have been the scope of this study. As a result of the analysis, it has been shown that acquisitions are usually carried out between European companies and Turkish companies. The number of transactions and the transaction volume varies over the years. Acquisition activities are mostly seen in finance and manufacturing industries. In general, the number of non-horizontal acquisitions are found to be higher than horizontal acquisitions.

Keywords

• Cross-Border Acquisitions
• Foreign Direct İnvestment
• Turkey

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