Ownership concentration and firm performance: Evidence from Turkish firms

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2003-12-1

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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

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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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Citation Formats

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.