AĞIN MERKEZİNDE YER ALMAK AKTÖRE AVANTAJ SAĞLAR MI?: TÜRK İŞLETME GRUPLARI ÖRNEKLEMİNDE BİR ARAŞTIRMA / Does Taking Place In The Central Network Position Provide Advantages To The Actor?: A Research In Turkish Business Groups Sample

Öz

Bu araştırmanın amacı, işletme gruplarının bağlı işletmelerinin, işletme grubu içerisinde oluşan ağ düzeneğinde yer aldıkları konumun finansal performansları üzerindeki etkisini ortaya koymaktır. Bu ilişki, Borsa İstanbul’da koteli ve bir işletme grubuna bağlı işletmelerden oluşan örneklem üzerinde analiz edilmiştir. Toplamda 15 işletme grubuna ait 74 bağlı işletmenin verileri üzerinde analizler gerçekleştirilmiştir. Analizler sonucunda, hem ticari bağlardan oluşan ağ yapısı içerisinde hem de örtüşen yönetim kurulu üyeliklerinden oluşan ağ içerisinde daha merkezi konumda bulunan bağlı işletmelerin finansal performanslarında istatistiksel olarak anlamlı ve pozitif yönlü ilişkiler gözlenmiştir. 

Anahtar Kelimeler

• Sosyal Sermaye,Ağ,Merkeziyet

DOES TAKING PLACE IN THE CENTRAL NETWORK POSITION PROVIDE ADVANTAGES TO THE ACTOR?: A RESEARCH IN TURKISH BUSINESS GROUPS SAMPLE / Ağın Merkezinde Yer Almak Aktöre Avantaj Sağlar Mı?: Türk İşletme Grupları Örnekleminde Bir Araştırma

Abstract

The aim of this research is to demonstrate the effect of business group affiliates' position in network which is formed in business group firms on their financial performance. This relation is analyzed on a sample that contains affiliates of various business groups which are listed in Borsa Istanbul. The analysis conducted with data of 74 affiliates of 15 business groups. The findings of the analysis suggest that business groups affiliates that locates in more central position both in networks form with commercial ties and interlocking directorate ties have statistically significant and positive effects on their financial performance. 

Keywords

• Social Capital,Network,Centrality,Financial Performance

Kaynakça

1. Adler, Paul S. ve Seok-Woo Kwon, (2002), “Social Capital: Prospects for a New Concept”, Academy of Management Review, 27(1), s. 17-40.
2. Ahuja, Gautam, (2000), “The Duality of Collaboration: Inducements and Opportunities in the Formation of Interfirm Linkages”, Strategic Management Journal, 21(3), s. 317-343.
3. Autry, Chad W. ve Susan L. Golicic, (2010), “Evaluating Buyer-Supplier Relationship-Performance Spirals: A Longitudinal Study”, Journal of Operations Management, 28(2), s. 87-100.
4. Badar, Kamal vd., (2013), “Examining the Relationship of Co-Authorship Network Centrality and Gender on Academic Research Performance: The Case of Chemistry Researchers in Pakistan”, Scientometrics, 94(2), s. 755-775.
5. Belliveau, Maura A. vd., (1996), “Social Capital at the Top: Effects of Social Similarity and Status on CEO Compensation”, Academy of Management Journal, 39(6), s. 1568-1593.
6. Borgatti, Stephen P., (2005), “Centrality and Network Flow”, Social Networks, 27(1), s. 55-71.
7. Brass, Daniel J. vd., (2004), “Taking Stock of Networks and Organizations: A Multilevel Perspective”, Academy of Management Journal, 47(6), s. 795-817.
8. Brass, Daniel J., (1984), “Being in The Right Place: A Structural Analysis of Individual Influence in an Organization”, Administrative Science Quarterly, 29(4), s. 518-539.

9. Brouthers, Lance Eliot vd., (2014), “Keiretsu Centrality-Profits and Profit Stability: A Power Dependence Perspective”, Journal of Business Research, 67(12), s. 2603-2610.
10. Brunetta, Federica vd., (2015), “Central Positions and Performance in the Scientific Community. Evidences from Clinical Research Projects”, Journal of Business Research, 68(5), s. 1074-1081.
11. Bryman, Alan ve Duncan Cramer, (1997), Quantitative Data Analysis with SPSS for Windows: A Guide for Social Scientists, New York: Routledge.
12. Buğra, Ayşe, (2010), Devlet ve İşadamları, 7. Baskı, İletişim Yayınları, İstanbul.
13. Burt, Ronald S., (2000), Structural Holes Versus Network Closure as Social Capital, http: //snap.stanford.edu/class/cs224w-readings/burt00capital.pdf (E.T: 20.12.2014).
14. Canbolat, Ela Ozkan, (2011), “Social Capital Influences on Business Groups’ Diversification Strategies”, Procedia-Social and Behavioral Sciences, 24, s. 1436-1443.
15. Carey, Sinéad vd., (2011), “Social Capital Configuration, Legal Bonds and Performance in Buyer–Supplier Relationships”, Journal of Operations Management, 29(4), s. 277-288.
16. Chang, Sea Jin ve Jaebum Hong, (2000), “Economic Performance of Group-Affiliated Companies in Korea: Intragroup Resource Sharing and Internal Business Transactions”, Academy of Management Journal, 43(3), s. 429-448.
17. Coleman, James S., (1988), “Social Capital in the Creation of Human Capital”, American Journal of Sociology, 94(Supplement), s. 95-120.
18. Croci, Ettore ve Rosanna Grassi, (2014), “The Economic Effect of Interlocking Directorates in Italy: New Evidence Using Centrality Measures”, Computational and Mathematical Organization Theory, 20(1), s. 89-112.
19. Çitçi, Umut Sanem, (2011). Örgüt Teorilerinde Yöneticilerin Yeniden Konumlandırılması İçin Bir Araç Olarak Sosyal Ağlar, Yayınlanmamış Doktora Tezi, Sakarya Üniversitesi Sosyal Bilimler Enstitüsü, Sakarya.
20. Dhanaraj, Charles ve Arvind Parkhe, (2006), “Orchestrating Innovation Networks”, Academy of Management Review, 31(3), s. 659-669.
21. Ferris, Stephen P. vd., (2003), “Too Busy to Mind the Business? Monitoring by Directors With Multiple Board Appointments”, The Journal of Finance, 58(3), s. 1087-1111.
22. Fligstein, Neil ve Peter Brantley, (1992), “Bank Control, Owner Control, or Organizational Dynamics: Who Controls the Large Modern Corporation?”, American Journal of Sociology, 98(2), s. 280-307.
23. Freeman, Linton C., (1979), “Centrality in Social Networks Conceptual Clarification”, Social Networks, 1(3), s. 215-239.
24. Galaskiewicz, Joseoh, (1985), “Interorganizational Relations”, Annual Review of Sociology, 11, s. 281-304.
25. Gnyawali, Devi R. ve Ravindranath Madhavan, (2001), “Cooperative Networks and Competitive Dynamics: A Structural Embeddedness Perspective”, Academy of Management Review, 26(3), s. 431-445.
26. Grandori, Anna ve Giuseppe Soda, (1995), “Inter-firm Networks: Antecedents, Mechanisms and Forms”, Organization Studies, 16(2), s. 183-214.
27. Granovetter, Mark, (1973), “The Strength of Weak Ties”, American Journal of Sociology, 78(6), s.1360-1380.
28. Granovetter, Mark, (1985), “Economic Action and Social Structure: The Problem of Embeddedness”, American Journal of Sociology, 91(3), s. 481-510.
29. Guest, Paul M., (2009), “The Impact of Board Size on Firm Performance: Evidence From the UK”, The European Journal of Finance, 15(4), s. 385-404.
30. Gulati, Ranjay vd., (2000), “Strategic Networks”, Strategic Management Journal, 21(3), s.203-215.
31. Gulati, Ranjay vd., (2002), “Organizational Networks”, Joel A.C. Baum (Ed.), The Blackwell Companion to Organizations içinde (281-303), Oxford: Blackwell Publishers.
32. Gulati, Ranjay, (1999), “Network Location and Learning: The Influence of Network Resources and Firm Capabilities on Alliance Formation”, Strategic Management Journal, 20(5), s. 397-420.
33. Gündüz, Lokman ve Ekrem Tatoğlu, (2003), “A Comparison of the Financial Characteristics of Group Affiliated and Independent Firms in Turkey”, European Business Review, 15(1), s. 48-54.
34. Hitt, Michael A. vd., (1997), “International Diversification: Effects on Innovation and Firm Performance in Product-Diversified Firms”, Academy of Management Journal, 40 (4), s. 767-798.
35. Horton, Joanne vd., (2012), “Resources or Power? Implications of Social Networks on Compensation and Firm Performance”, Journal of Business Finance and Accounting, 39(3-4), s. 399-426.
36. Jiang, Jane Yan ve Chi-Wei Liu, (2015), “High Performance Work Systems and Organizational Effectiveness: The Mediating Role of Social Capital”, Human Resource Management Review, 25(1), s. 126-137.
37. Johanson, Jan ve Lars-Gunnar Mattson, (2013), “Internationalization in Industrial Systems-A Network Approach”, Neil Hood ve Jan-Erik Vahlne (Ed.), Strategies in Global Competition: Selected Papers from The Prince Bertil Symposium at the Institute of International Business, Stockholm School of Economics içinde (287-314), New York: Routledge
38. KAP, (2014), İşlem Gören Şirketler, http://www.kap.gov.tr/sirketler/islem-goren-sirketler/ tum-sirketler.aspx (E.T: 16.03.2014).
39. Karahanna, Elena ve David S. Preston, (2013), “The Effect of Social Capital of the Relationship Between the CIO and Top Management Team on Firm Performance”, Journal of Management Information Systems, 30(1), s. 15-56.
40. Kaymak, Turhan ve Eralp Bektaş, (2008), “East Meets West? Board Characteristics in an Emerging Market: Evidence From Turkish Banks”, Corporate Governance: An International Review, 16(6), s. 550-561.
41. Keister, Lisa A., (1998), “Engineering Growth: Business Group Structure and Firm Performance in China’s Transition Economy”, American Journal of Sociology, 104(2), s. 404-440.
42. Khanna, Tarun ve Jan W. Rivkin, (2001), “Estimating the Performance Effects of Business Groups in Emerging Markets”, Strategic Management Journal, 22(1), s 45-74.
43. Khanna, Tarun ve Jan W. Rivkin, (2006), “Interorganizational Ties and Business Group Boundaries: Evidence from an Emerging Economy”, Organization Science, 17(3), s. 333-352.
44. Khanna, Tarun ve Krishna Palepu, (2000a), “The Future of Business Groups in Emerging Markets: Long-Run Evidence From Chile”, Academy of Management Journal, 43(3), s. 268-285.
45. Khanna, Tarun ve Krishna Palepu, (2000b), “Is Group Affiliation Profitable in Emerging Markets? An Analysis of Diversified Indian Business Groups”, The Journal of Finance, 55(2), s. 867-891.
46. Khayesi, Jane N.O. vd., (2014), “Kinship in Entrepreneur Networks: Performance Effects of Resource Assembly in Africa”, Entrepreneurship Theory and Practice, 38(6),s. 1323-1342.
47. Kim, Hicheon vd., (2004), “Power Dependence, Diversification Strategy, and Performance in Keiretsu Member Firms”, Strategic Management Journal, 25(7), s.613-636.
48. Kraatz, Matthew S., (1998), “Learning by Association? Interorganizational Networks and Adaptation to Environmental Change”, Academy of Management Journal, 41(6), s. 621-643.
49. Krause, Daniel R. vd., (2007), “The Relationships Between Supplier Development, Commitment, Social Capital Accumulation and Performance Improvement”, Journal of Operations Management, 25(2), s. 528-545.
50. Kula, Veysel ve Ekrem Tatoğlu, (2006), “Board Process Attributes and Company Performance of Family-Owned Businesses in Turkey”, Corporate Governance: The International Journal of Business in Society, 6(5), s. 624-634.
51. Larcker, David F. vd., (2013), “Boardroom Centrality and Firm Performance”, Journal of Accounting and Economics, 55(2), s. 225-250.
52. Larmou, Sofia ve Nikos Vafeas, (2010), “The Relation Between Board Size and Firm Performance in Firms with a History of Poor Operating Performance”, Journal of Management and Governance, 14(1), s. 61-85.
53. Lee, Ji-Hwan vd., (2012), “Outside Directors’ Social Capital and Firm Performance: A Complex Network Approach”, Social Behavior and Personality: An International Journal, 40(8), s. 1319-1331.
54. Lin, Nan vd., (1981), “Social Resources and Strength of Ties: Structural Factors in Occupational Status Attainment”, American Sociological Review, 46(4), s. 393-405.
55. Lin, Nan, (1999), “Building a Network Theory of Social Capital”, Connections, 22(1), s. 28-51.
56. Lin, Nan, (2005), A Network Theory of Social Capital, http: //www.pro-classic.com/ethnicgv /SN/SC/paper-final-041605.pdf (E.T: 01.02.2015).
57. Mahmood, Ishtiaq P. vd., (2011), “Where can Capabilities Come From? Network Ties and Capability Acquisition in Business Groups”, Strategic Management Journal, 32(8), s. 820-848.
58. Mizruchi, Mark S., (1996), “What do Interlocks Do? An Analysis, Critique, and Assessment of Research on Interlocking Directorates”, Annual Review of Sociology, 22, s. 271-298.
59. Nicholson, Gavin J. ve Geoffrey C. Kiel, (2007), “Can Directors Impact Performance? A Case-Based Test of Three Theories of Corporate Governance”, Corporate Governance: An International Review, 15(4), s. 585-608.
60. Non, Marielle ve Philip Hans Franses, (2007), “Interlocking Boards and Firm Performance: Evidence from a New Panel Database”, Tinbergen Institute Discussion Paper, No: 07-034/2, http: //papers.ssrn.com/sol3/papers.cfm?abstract_ id=978189 (E.T: 10.02.2015).
61. Oliveira, Jayr Figueiredo De., (2013), “The Influence of the Social Capital on Business Performance: An Analysis in the Context of Horizontal Business Networks”, RAM, Revista de Administração Mackenzie, 14(3), s. 209-235.
62. Özen, Şükrü ve Zuhal Aslan, (2006), “İçsel ve Dışsal Sosyal Sermaye Yaklaşımları Açısından Türk Toplumunun Sosyal Sermaye Potansiyeli: OSTİM Örneği”, Akdeniz Üniversitesi İİBF Dergisi, 6(12), s. 130-161.
63. Paşamehmetoğlu, Ayşın, (2010), Kültürel Değerlerde Farklılaşmanın Sosyal Sermayeye Etkileri: Ankara Mobilyacılar Sitesi (Siteler) ve Ortadoğu Sanayi ve Ticaret Merkezi (Ostim) Üzerine Bir Araştırma, Yayınlanmamış Doktora Tezi, Başkent Üniversitesi Sosyal Bilimler Enstitüsü, Ankara.
64. Phan, Phillip H. vd., (2003), “The Performance Impact of Interlocking Directorates: The Case of Singapore”, Journal of Managerial Issues, 15(3), s. 338-352.
65. Pombo, Carlos ve Luis H. Gutiérrez, (2011), “Outside Directors, Board Interlocks and Firm Performance: Empirical Evidence from Colombian Business Groups”, Journal of Economics and Business, 63(4), s. 251-277.
66. Rowley, Timothy J., (1997), “Moving Beyond Dyadic Ties: A Network Theory of Stakeholder Influences”, Academy of Management Review, 22(4), s. 887-910.
67. Sağsan, Mustafa vd., (2010), “Küresel Krizin Aşılmasında Alternatif Bir Yol: Sosyal Sermayede Enformasyon Edinimi ve Kullanım Kapasitesi”, Bilgi Dünyası, 11(1), s. 140-154.
68. Salvato, Carlo ve Leif Melin, (2008). “Creating Value Across Generations in Family-Controlled Businesses: The Role of Family Social Capital”, Family Business Review, 21(3), s. 259-276.
69. Sambharya, Rakesh B. (1995), “The Combined Effect of International Diversification and Product Diversification Strategies on the Performance of U.S.-Based Multinational Corporations”, Management International Review, 35(3), s. 197-218.
70. Santos, Rafael Liza vd., (2012), “Board Interlocking in Brazil: Directors' Participation in Multiple Companies and its Effect on Firm Value and Profitability”, Latin American Business Review, 13(1), s. 1-28.
71. Selekler-Göksen, Nisan ve Abdulmecit Karatas, (2008), “Board Structure and Performance in an Emerging Economy: Turkey”, International Journal of Business Governance and Ethics, 4(2), s. 132-147.
72. Silva, Francisca vd., (2006), “Family Ties, Interlocking Directors and Performance of Business Groups in Emerging Countries: The Case of Chile”, Journal of Business Research, 59(3), s. 315-321.
73. Singh, Anurag vd. (2015), “Impact of Structural Centrality Based Attacks in Complex Networks”, Acta Physica Polonica B, 46(2), s. 305-325.
74. Sparrowe, Raymond T. vd., (2001), “Social Networks and the Performance of Individuals and Groups”, Academy of Management Journal, 44(2), s. 316-325.
75. Tsai, Wenpin, (2001), “Knowledge Transfer in Intraorganizational Networks”, Academy of Management Journal, 44(5), s. 996-1004.
76. Wu, Feng ve Xiaolei Zhang, (2014), “Employees’ Positions in Virtual Working Community and Their Job Performances: A Social Network Analysis”, Human Resource Development International, 17(2), s. 231-242.
77. Wu, Wei-Li vd., (2012), “Knowledge Sharing and Work Performance: A Network Perspective”, Social Behavior and Personality: An International Journal, 40(7), s. 1113-1120.
78. Yaprak, Attila vd., (2007), “ How Do Business Groups Function and Evolve in Emerging Markets? The Case of Turkish Business Groups”, Advances in International Marketing, 17, s. 275-294.
79. Yli-Renko, Helena vd., (2002), “Social Capital, Knowledge, and the International Growth of Technology-Based New Firms”, International Business Review, 11(3), s. 279-304.
80. Yu, Sui-Hua ve Wei-Ting Chiu, (2013), “Social Networks and Corporate Performance: The Moderating Role of Technical Uncertainty”, Journal of Managerial Issues, 25(1), s. 26-45.