THE IMPACT OF FAMILY OWNERSHIP ON COST STICKINESS: EVIDENCE FROM BORSA ISTANBUL

Abstract

Cost stickiness, which has been recently discussed in academic research from various perspectives, is examined in the context of family firms in this study. Data from 202 Borsa Istanbul companies are analyzed for the period 2014 - 2023. The results indicate that although cost stickiness is present in the full sample, it is less pronounced in family firms. This can be attributed to less severe agency problems and lower likelihood of managers engaging in opportunistic behavior in family firms. The findings contribute to several strands of literature and provide implications for managers, investors and other stakeholders.

Keywords

• Cost Stickiness
• Family Firms
• Borsa Istanbul

AİLE ŞİRKETİ OLMANIN MALİYET YAPIŞKANLIĞI ÜZERİNDEKİ ETKİSİ: BORSA İSTANBUL’DA BİR UYGULAMA

Abstract

Son yıllarda akademik araştırmalara farklı açılardan konu olan maliyet yapışkanlığı, bu çalışma kapsamında sahiplik yapısının bir türü olan aile şirketi olup olmamak bağlamında ele alınmıştır. Borsa İstanbul’da faaliyet gösteren 202 şirketin verileri 2014-2023 dönemi için incelenmiştir. Çalışma kapsamında tüm şirketlerin dahil olduğu örneklem için maliyet yapışkanlığının var olduğunun bulgularla desteklenmesinin ardından, aile şirketlerinin maliyet yapışkanlığı düzeyinin daha az olduğu ortaya konmuştur. Bu durum aile şirketlerinde vekalet sorunun daha az yaşanması ve yöneticilerinin kendilerine menfaat sağlayacak davranışlarda daha az bulunmaları ile ilişkilendirilmektedir. Çalışmanın bulguları hem literatüre katkı sağlamakta hem de yöneticiler, yatırımcılar ve birçok taraf için anlamlı çıkarımlar sunmaktadır.

Keywords

• Maliyet Yapışkanlığı
• Aile Şirketleri
• Borsa İstanbul

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