SAHİPLİK YOĞUNLAŞMASININ FİRMA DEĞERİ ÜZERİNE ETKİSİ: BORSA İSTANBUL’DA BİR UYGULAMA

Year 2015, Volume: 1 Issue: 104, 167 - 181, 19.12.2015

Emin Hüseyin Çetenak

Abstract

Keywords

-

Sahiplik Yoğunlaşmasının Firma Değeri Üzerine Etkisi: Borsa İstanbul'da Bir Uygulama

Abstract

Keywords

Sahiplik Yoğunlaşması, Firma Değeri, Kurumsal Yönetim

References

• Agrawal, A. and Mandelker, G. N. 1990. Large shareholders and the monito- ring of managers: the case of antitakeover charter amendments. iournal of Financial and quantitative analysis, 25(02), 143-161.
• Alimehmeti, G. and Paletta, A. 2012. Ownership concentration and effects over firm performance: evidences from Italy. European Scientific Journal,8(22).
• Arellano, M. and Bond, S. 1991, Some tests of specification for panel data: Monte Carlo evidence and an application to employment equations. The Review of Economic Studies, 58(2), 277-297.
• Arellano, M. and Bover, O. 1995, Another look at the instrumental variable es- timation of error-components models. Journal of Econometrics, 68(1), 29-51 .
• Barclay, M.J. and Holderness, CG. 1991 . Negotiated block trades and corpo- rate control. The Journal of Finance. 46 (3), 861—878.
• Bebchuk, L. A. 1999. A rent-protection theory of corporate ownership and cont- rol (No. w7203). National Bureau of Economic Research
• Beiner, 3., Drobetz, W, Schmid, M.M. and Zimmermann, H. 2006. An integ- rated framework of corporate governance and firm valuation. European Financial Management. 12(2), 249-283.
• Berle, A.A. and Means, G.C. 1932. The Modern Corporation and Private Pro- perty. New York, US: Macmillan.
• Cho, M.-H. 1998. Ownership structure, investment, and the corporate value: an empirical analysis. Journal of Financial Economics. 47, 103-121.
• Claessens, S., Diankov, S., Fan, J.P.H. and Lang, L.H.P. 2002. Disentangling the incentive and entrenchment effects of large shareholdings. The Journal of Finance. 57(6), 2741-2771.
• Çıtak, L. 2007. The impact of ownership structure on company performance; a panel data analysis on Istanbul Stock Exchange Listed (ISE-100) compani- es. International Research Journal of Finance and Economics. 9, 231-245.
• Demsetz, H. 1983. The structure of ownership and the theory of the firm. Jour- nal of Law and Economics. 26(2), 375-390.
• Demsetz, H. and Lehn, K. 1985. The structure of corporate ownership: causes and consequences. Journal of Political Economy. 93(6), 1 155-1 177.
• Ersoy, E., Bayrakdaroğlu, A. ve Şamiloğlu, F. 201 1. Tijrkiye’de kurumsal yö- netim ve firma performansı (Tobin-Q ve Anormal Getiri) arasındaki ilişkinin analizi. Finans Politik ve Ekonomik Yorumlar Dergisi. 48(554), 71-84.
• Ersoy, E., ve Çetenak, E. H. 2015. Sahiplik yoğunlaşmasının temettü dağıtım kararlarına etkisi: Borsa Istanbul'da bir uygulama. Ege Akademik Bakış, 15(4)
• Gönenç, H. 2006. Ownership concentration and corporate performance: a simultaneous equation framework for Turkish companies. SSRN Accepted Paper Series,
• http://papers.ssrn.com/sol3/papers.cfm?a bstract_id=498263
• Hill, C. W., and Snell, S. A. 1989. Effects of ownership structure and control on corporate productivity. Academy of ManagementJournal, 32(1), 25-46.
• La Porta, R., Lopez-de-Silanes, F., and Shleifer, A. 1999. Corporate ownership around the world. The ioumal of finance, 54(2), 471-517.
• McConnel, J.J. and Servaeas, H. 1990. Additional evidence on equity owners- hip and corporate value. Journal of Financial Economics. 27, 595-612.
• Miguel, A., Pindado, J., and De la Torre, C. 2003. How does ownership struc- ture affect firm value? A comparison using different corporate governance systems.
• http: / / papers.ssrn.com/ so|3 / Pa pers.cfm?abstract_id=479322
• Miguel, A., Pindado, J., and De la Torre, C. 2004. Ownership structure and firm value: New evidence from Spain. Strategic Management Journal, 25(12), 1199-1207.
• Selarka, E. 2005. Ownership Concentration and Firm Value: A study from The Indian corporate sector. Emerging Markets Finance and Trade, 41 (6), 83- 108.
• Shleifer, A. and Vishny, R.W. 1986. Large shareholders and corporate control. The Journal of Political Economy. 94(3), 461-488.
• Shleifer, A. and Vishny, R.W. 1997. A Survey of corporate governance. The Journal of Finance. 52(2), 737-783.
• Thomsen, S. 2005. Conflicts of interest aligned incentives? Blockholder ow- nership, dividends and firm value in the US and EU. European Business Organization Law Review. 6(2), 201-225.
• Thomsen, S., Pedersen, T. and Kivst, H.K. 2006. Blockholder ownership: effect on firm value in market and control based governance systems. Journal of Corporate Finance. 12, 246-269.