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Ownership concentration and firm performance: Evidence from Turkish firms
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Date
2003-12-1
Author
Önder, Zeynep
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This paper examines the determinants of ownership concentration and the relationship between ownership structure and firm performance in Turkish firms. The empirical results show that ownership concentration increases with firm size, controlling for total risk and the industry of the firm. The results also suggest that the measure of firm performance is important in analyzing the relationship between firm performance and its ownership structure. A quadratic relationship between the largest shareholder’s concentration and Tobin’s Q is observed in Turkish firms. Furthermore, the findings indicate that the relationships obtained for developed markets cannot be generalized to emerging markets.
Subject Keywords
Firm performance
,
Turkish firms
URI
http://www2.feas.metu.edu.tr/metusd/ojs/index.php/metusd/article/view/33
https://hdl.handle.net/11511/58524
Journal
ODTÜ Gelişme Dergisi
Collections
Department of Economics, Article
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Z. Önder, “Ownership concentration and firm performance: Evidence from Turkish firms,”
ODTÜ Gelişme Dergisi
, vol. 30, no. 2, pp. 181–203, 2003, Accessed: 00, 2020. [Online]. Available: http://www2.feas.metu.edu.tr/metusd/ojs/index.php/metusd/article/view/33.