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Türkiye’de 1988-2008 Dönemindeki Firma Birleşmeleri, Birleşme Dalgaları ve Genel Tablo

Year 2011, Issue: 52, 137 - 152, 01.10.2011

Abstract

Bu çalışmada Türkiye ́de 1988-2008 yılları arasında gerçekleşen firma birleşme ve satın almaları ile ilgili işlemsel özelliklere bakılarak genel bir ampirik tablo sunulması amaçlanmıştır. Araştırmanın büyük bir bölümü Thomson One veritabanı kullanılarak yapılmıştır. Bu tarihler içerisinde birleşme dalgası diye tanımlayabileceğimiz iki önemli dönem görülmüştür: Bunlardan biri 2000-2001, diğeri ise 2005-2008 yılları arasında gerçekleşmiştir. Fakat bu iki döneme baktığımızda işlem değerleri ve alıcı firma profilleri arasında farklılıklar gözlemlenmiştir. 2005-2008 yılları arasında gerçekleşen satın almaları hem sayı hem de işlem değeri olarak yabancı alıcı firmalar domine etmiş, 2000-2001 yılları arasında ise sayı olarak yerli, değer açısından ise yine yabancı alıcı firmalar öne çıkmıştır. En aktif sektörler içerisinde işlem sayısı olarak bankacılık, hammadde ve imalat sanayii, işlem değeri olarak da ayrıca telekomünikasyon ve enerji sektörleri bulunmuştur. Son yıllarda alıcı firmanın hedef firmada kontrolü ele geçirdiği işlem sayısında bir artış görülmüştür.

Mergers, Acquisitions and Merger Waves in Turkey during the years of1988-2008

Year 2011, Issue: 52, 137 - 152, 01.10.2011

Abstract

In this empirical study, we try to shed some light on the general patterns of merger and acquisition activity that occurred in the Turkish market during the years 1988-2008 with respect to deal characteristics using Thomson One as our primary database. In the last 20 years, there has been two major periods which can be identified as a ‘merger wave’: One occurred during the years 2000-2001 and other during 2005-2008. However, when we look at these two periods, we noticed difference with respect to the total deal values and the acquirer profiles. The 2005-2008 period has been dominated by the foreign acquirers both with respect to the deal numbers and also deal values whereas the 2000-2001 period has been dominated by the domestic acquirers with respect to numbers and again by the foreign acquirers with respect to deal values. The most active industries, based on the number of acquisitions, have been the banking, materials and the industrials. If we look at deal values, we also have to add telecommunications and energy and power to that list. Also, we found that the acquiring firms are mostly public and private firms whereas the target firms are mostly private firms and subsidiaries. Finally, we found that the number of acquisitions after which the acquiring company gains control of the target firm has increased in the last several years.

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Details

Other ID JA87RT73ZZ
Journal Section Research Article
Authors

Evrim Akdoğu This is me

Publication Date October 1, 2011
Submission Date October 1, 2011
Published in Issue Year 2011 Issue: 52

Cite

APA Akdoğu, E. (2011). Mergers, Acquisitions and Merger Waves in Turkey during the years of1988-2008. The Journal of Accounting and Finance(52), 137-152.
AMA Akdoğu E. Mergers, Acquisitions and Merger Waves in Turkey during the years of1988-2008. The Journal of Accounting and Finance. October 2011;(52):137-152.
Chicago Akdoğu, Evrim. “Mergers, Acquisitions and Merger Waves in Turkey During the Years of1988-2008”. The Journal of Accounting and Finance, no. 52 (October 2011): 137-52.
EndNote Akdoğu E (October 1, 2011) Mergers, Acquisitions and Merger Waves in Turkey during the years of1988-2008. The Journal of Accounting and Finance 52 137–152.
IEEE E. Akdoğu, “Mergers, Acquisitions and Merger Waves in Turkey during the years of1988-2008”, The Journal of Accounting and Finance, no. 52, pp. 137–152, October 2011.
ISNAD Akdoğu, Evrim. “Mergers, Acquisitions and Merger Waves in Turkey During the Years of1988-2008”. The Journal of Accounting and Finance 52 (October 2011), 137-152.
JAMA Akdoğu E. Mergers, Acquisitions and Merger Waves in Turkey during the years of1988-2008. The Journal of Accounting and Finance. 2011;:137–152.
MLA Akdoğu, Evrim. “Mergers, Acquisitions and Merger Waves in Turkey During the Years of1988-2008”. The Journal of Accounting and Finance, no. 52, 2011, pp. 137-52.
Vancouver Akdoğu E. Mergers, Acquisitions and Merger Waves in Turkey during the years of1988-2008. The Journal of Accounting and Finance. 2011(52):137-52.