OWNERSHIP IDENTITY AND FIRM PERFORMANCE IN MANUFACTURING COMPANIES IN TURKEY: A MULTINOMIAL LOGIT MODEL APPROACH

Yıl 2009, Cilt: 1 Sayı: 2, 23 - 34, 01.12.2009

Aydin Unsal Erginbay Ugurlu İlker Sakınc

Öz

The studies on ownership structure provides us with several testable hypothesis as well as
empirical evidence from different countries. The study describes the main characteristics of
ownership identities of the Turkish manufacturing companies listed on the Istanbul Stock
Exchange (ISE) and examines the impact of ownership identity on performance. The identity of
the owners has implications for their objectives and the way exercise their power, and this is
reflected in company strategy.
A multinomial logit model has been developed to study the effects of different ownership
identities on the selection of performance measurements. The model is then applied to explain the
performance of ownership structure in manufacturing companies in Turkey.

Anahtar Kelimeler

Ownership Structure, Ownership Identity, Company Performance, Multinomial Logit Model.

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