Year 2015, Volume , Issue 15, Pages 123 - 134 2015-06-20

THE EFFECTS OF OWNERSHIP CONCENTRATION ON FIRM PERFORMANCE: EMPRICAL EVIDENCE FROM THE BIST FOOD AND BEVERAGE INDEX
SERMAYE YOĞUNLAŞMASININ FİRMA PERFORMANSI ÜZERİNE ETKİSİ: BİST GIDA ve İÇECEK ENDEKSİ UYGULAMASI

Fatih KONAK [1] , Selçuk KENDİRLİ [2]

182 418

There have been various discussion on the issue of affects of ownership concentration on firm performance so far. In this perspective, the main objective of this research is to discover the relationship between ownership concentration and firm performance of companies listed in the BIST Food and Beverage Index. When the ROA and ROE were considered as performance criteria, it was found that there is negative and statistically significant realtionship between ownership concentration and firm performance. It should also be noted that although this negative relationship still exists for market performance indicator, Tobins‟ q, it is not statistically significant. According to outcomes, it can be claimed that ownership concentration effects firm performance negatively

Mülkiyet yapısında ki yoğunlaşma veya sermayenin sahiplik yapısı ile firma performansı arasındaki ilişki, uzun yıllardır tartışılmakta ve dikkatle incelenmektedir. Bu perspektifte çalışmanın amacı, BİST Gıda ve İçecek Endeksi’nde yer alan şirketlerin performansları ile mülkiyet yapılarındaki yoğunlaşma arasındaki ilişkinin ortaya çıkarılmasıdır. ROA ve ROE performans ölçütleri dikkate alındığında, mülkiyet yapısı ile firma performansı arasında istatiksel olarak anlamlı ve negatif ilişki bulunmasına rağmen, aynı şekilde negatif ilişkinin tespit edildiği Tobins’ q ölçütünde sonuç anlamlı çıkmamıştır. Bu sonuçlar doğrultusunda, sermaye yapısında ki yoğunlaşmanın firma performansı üzerinde olumsuz etkisinden söz edilebilmektedir.

Anahtar Kelimeler: Firma Performansı, Sermaye Yoğunlaşması

JEL Sınıflandırması: G30, G32

 THE EFFECTS OF OWNERSHIP CONCENTRATION ON FIRM PERFORMANCE: EMPRICAL EVIDENCE FROM THE BIST FOOD AND BEVERAGE INDEX

ABSTRACT

There have been various discussion on the issue of affects of ownership concentration on firm performance so far. In this perspective, the main objective of this research is to discover the relationship between ownership concentration and firm performance of companies listed in the BIST Food and Beverage Index. When the ROA and ROE were considered as performance criteria, it was found that there is negative and statistically significant realtionship between ownership concentration and firm performance. It should also be noted that although this negative relationship still exists for market performance indicator, Tobins’ q, it is not statistically significant. According to outcomes, it can be claimed that ownership concentration effects firm performance negatively.

Keywords: Firm Performance, Ownership Concentration

JEL Classification: G30,G32

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Primary Language en
Subjects Social
Journal Section Articles
Authors

Author: Fatih KONAK

Author: Selçuk KENDİRLİ

Dates

Publication Date: June 20, 2015

Bibtex @research article { ulikidince232300, journal = {Uluslararası İktisadi ve İdari İncelemeler Dergisi}, issn = {1307-9832}, eissn = {1307-9859}, address = {Kenan ÇELİK}, year = {2015}, volume = {}, pages = {123 - 134}, doi = {10.18092/ijeas.40158}, title = {THE EFFECTS OF OWNERSHIP CONCENTRATION ON FIRM PERFORMANCE: EMPRICAL EVIDENCE FROM THE BIST FOOD AND BEVERAGE INDEX}, key = {cite}, author = {KONAK, Fatih and KENDİRLİ, Selçuk} }
APA KONAK, F , KENDİRLİ, S . (2015). THE EFFECTS OF OWNERSHIP CONCENTRATION ON FIRM PERFORMANCE: EMPRICAL EVIDENCE FROM THE BIST FOOD AND BEVERAGE INDEX. Uluslararası İktisadi ve İdari İncelemeler Dergisi, (15), 123-134. DOI: 10.18092/ijeas.40158
MLA KONAK, F , KENDİRLİ, S . "THE EFFECTS OF OWNERSHIP CONCENTRATION ON FIRM PERFORMANCE: EMPRICAL EVIDENCE FROM THE BIST FOOD AND BEVERAGE INDEX". Uluslararası İktisadi ve İdari İncelemeler Dergisi (2015): 123-134 <http://dergipark.org.tr/ulikidince/issue/21627/232300>
Chicago KONAK, F , KENDİRLİ, S . "THE EFFECTS OF OWNERSHIP CONCENTRATION ON FIRM PERFORMANCE: EMPRICAL EVIDENCE FROM THE BIST FOOD AND BEVERAGE INDEX". Uluslararası İktisadi ve İdari İncelemeler Dergisi (2015): 123-134
RIS TY - JOUR T1 - THE EFFECTS OF OWNERSHIP CONCENTRATION ON FIRM PERFORMANCE: EMPRICAL EVIDENCE FROM THE BIST FOOD AND BEVERAGE INDEX AU - Fatih KONAK , Selçuk KENDİRLİ Y1 - 2015 PY - 2015 N1 - doi: 10.18092/ijeas.40158 DO - 10.18092/ijeas.40158 T2 - Uluslararası İktisadi ve İdari İncelemeler Dergisi JF - Journal JO - JOR SP - 123 EP - 134 VL - IS - 15 SN - 1307-9832-1307-9859 M3 - doi: 10.18092/ijeas.40158 UR - https://doi.org/10.18092/ijeas.40158 Y2 - 2019 ER -
EndNote %0 International Journal of Economics and Administrative Studies THE EFFECTS OF OWNERSHIP CONCENTRATION ON FIRM PERFORMANCE: EMPRICAL EVIDENCE FROM THE BIST FOOD AND BEVERAGE INDEX %A Fatih KONAK , Selçuk KENDİRLİ %T THE EFFECTS OF OWNERSHIP CONCENTRATION ON FIRM PERFORMANCE: EMPRICAL EVIDENCE FROM THE BIST FOOD AND BEVERAGE INDEX %D 2015 %J Uluslararası İktisadi ve İdari İncelemeler Dergisi %P 1307-9832-1307-9859 %V %N 15 %R doi: 10.18092/ijeas.40158 %U 10.18092/ijeas.40158
ISNAD KONAK, Fatih , KENDİRLİ, Selçuk . "THE EFFECTS OF OWNERSHIP CONCENTRATION ON FIRM PERFORMANCE: EMPRICAL EVIDENCE FROM THE BIST FOOD AND BEVERAGE INDEX". Uluslararası İktisadi ve İdari İncelemeler Dergisi / 15 (June 2015): 123-134. https://doi.org/10.18092/ijeas.40158
AMA KONAK F , KENDİRLİ S . THE EFFECTS OF OWNERSHIP CONCENTRATION ON FIRM PERFORMANCE: EMPRICAL EVIDENCE FROM THE BIST FOOD AND BEVERAGE INDEX. IJEAS. 2015; (15): 123-134.
Vancouver KONAK F , KENDİRLİ S . THE EFFECTS OF OWNERSHIP CONCENTRATION ON FIRM PERFORMANCE: EMPRICAL EVIDENCE FROM THE BIST FOOD AND BEVERAGE INDEX. Uluslararası İktisadi ve İdari İncelemeler Dergisi. 2015; (15): 134-123.