Yıl: 2020 Cilt: 15 Sayı: 2 Sayfa Aralığı: 677 - 698 Metin Dili: İngilizce İndeks Tarihi: 05-01-2021

A Conceptual Framework of Internationalization of Family Business Groups: Turkey Context

Öz:
Resource exploration has been seen as the main reason forthe accelerated internationalization of emerging marketfirms. However, despite their specific contexts and organizational forms, emerging market multinational companies(EM MNCs) literature underestimated the context-specificfactors and their effect on foreign direct investment activity so far. EM MNCs in those markets may have their ownfirm-specific resources that fit their institutional contextsand can eliminate transaction costs, which result fromthose contexts. For instance, Business Groups (BG) withtheir unique attributions would have a hybrid internationalization model like their forms, in those markets. Thisstudy will try to propose a multi-theoretical perspective,which includes resource, transaction costs and institutionbased views for internationalization of family BGs (FBG),which is a dominant form of organizing in Turkey. Hence,the determinants of the internationalization level of FBGwill be discussed from different perspectives and proposed.
Anahtar Kelime:

Aile İşletme Gruplarının Uluslararasılaşmasına Dair Kavramsal Bir Çerçeve: Türkiye Bağlamı

Öz:
Kaynak arayışı gelişen ülke şirketlerinin ivmeli bir şekilde uluslararasılaşmasını etkileyen en temel nedenlerden biri olarak görülmektedir. Fakat kendilerine özgü bağlam ve yapıları olmasına rağmen, gelişen ülke çok uluslu şirketleri ile ilgili mevcut akademik çalışmalar, bağlamsal faktörleri ve bunların bu şirketlerin doğrudan yabancı yatırımlarına etkisini göz ardı etmiştir. Gelişen ülke çok uluslu şirketleri, bu ülkelerin bağlamlarından dolayı ortaya çıkan bazı yüksek işlem maliyetlerini azaltabilir ve kendi kurumsal çevrelerine özgü firma kaynaklarına sahip olabilirler. Dolayısıyla benzer şekilde, işletme gruplarının kendilerine has özellikleri nedeniyle melez bir uluslararasılaşmaya sahip olacaklarını da varsaymak mümkündür. Bu çalışma kaynak, işlem maliyeti ve kurumsal temelli yaklaşımların ışığında Türkiye’deki baskın örgütlenme şekli olan aile işletme gruplarının uluslararasılaşmasını incelemekte ve bu grupların uluslararasılaşma düzeyini etkileyen faktörleri bu kuramsal yaklaşımlar çerçevesinde irdeleyerek tartışmakta ve öneriler sunmaktadır.
Anahtar Kelime:

Belge Türü: Makale Makale Türü: Araştırma Makalesi Erişim Türü: Erişime Açık
  • Agarwal, Sanjeev; Sridhar N. Ramaswami (1992), “Choice of Foreign Market Entry Mode : Impact of Ownership , Location and Internalization Factors”, Journal of International Business Studies, Vol. 23 No. 1: 1–27.
  • Amsden, Alice H. (2009), “Does Firm Ownership Matter? POEs vs. FOEs in the Developing World”, (Ed. Ravi Ramamurti and Jitendra V. Singh), Emerging Multinationals in Emerging Markets, New York: Cambridge University Press.: 64– 78. https://doi.org/10.1017/CBO9780511576485.004.
  • Andersen, Otto (1997), “Internationalization and Market Entry Mode: A Review of Theories and Conceptual Frameworks”, Management International Review, Vol. 37: 27–42. https://doi.org/10.1017/CBO9781107415324.004.
  • Ataay, Aylin (2012), “Türk Aile İşletme Gruplarının Uluslararasılaşma Deneyimleri”, (Ed. Tamer Koçel), 5. Aile İşletmeleri Kongresi (5th Family Businesses Congress): 71–92.
  • Barney, Jay (1991), “Firm Resources and Sustained Competitive Advantage”, Journal of Management, Vol. 17 No. 1: 99–120. https://doi.org/10.1177/014920639101700108.
  • Bonaglia, Federico; Goldstein, Andrea and Mathews, John A. (2007), “Accelerated Internationalization by Emerging Markets’ Multinationals: The Case of the White Goods Sector”, Journal of World Business, Vol. 42 No. 4: 369–83. https://doi.org/10.1016/j.jwb.2007.06.001.
  • Brouthers, Keith D.; Brouthers; Lance Eliot (2000), “Acquisition or Greenfield Start-up? Institutional, Cultural and Transaction Cost Influences”, Strategic Management Journa,l Vol. 21 No. 1: 89–97. https://doi.org/10.1002/(SICI)1097-0266(200001)21:1<89::AID-SMJ85>3.0.CO;2-8.
  • Buckley, Peter J.; Casson, Mark (1976), The Future of the Multinational Enterprise, 1st ed., London: Palgrave Macmillan.
  • Buğra, Ayşe (1995), Devlet ve Işadamları, İstanbul: İletişim Yayınları.
  • Carney, Micheal; Gedajlovic, Eric R.; Heugens, Pursey P. M. A. R.; Essen, Marc Van; Oosterhout, J. (Hans) Van (2011), “Business Group Affiliation , Performance , Context , and Strategy : A Meta-Analysis”, Academy Of Management Journal, Vol. 54 No. 3: 437–60.
  • Chandler Jr., Alfred D. (1977), The Visible Hand - The Managerial Revolution in American Business, 15th ed., USA: The Belknap Press of Harvard University Press. https://doi.org/10.2469/dig.v42.n2.23.
  • Chang, Sea Jin (2003), “Ownership Structure , Expropriation , and Performance of Group-Affiliated Companies in Korea”, The Academy of Management Journal, Vol. 46 No. 2: 238–53. https://doi.org/10.2307/30040617.
  • Chang, Sea Jin; Hong, Jaebum (2000), “Economic Performance of Group-Affiliated Companies in Korea : Intragroup Resource Sharing and Internal Business Transactions”, Academy of Management Journal, Vol. 43 No. 3: 429–48.
  • Chari, Murali; Acikgoz, Senay (2016), “What Drives Emerging Economy Firm Acquisitions in Tax Havens?”, Journal of Business Research, Vol. 69 No. 2: 664–71. https://doi.org/10.1016/j.jbusres.2015.08.034.
  • Chari, Murali D.R. (2013), “Business Groups and Foreign Direct Investments by Developing Country Firms: An Empirical Test in India”, Journal of World Business, Vol. 48 No. 3: 349–59. https://doi.org/10.1016/j.jwb.2012.07.019.
  • Child, John; Rodrigues, Suzana B. (2005), “The Internationalization of Chinese Firms: A Case for Theoretical Extension?”, Management and Organization Review, Vol. 1 No. 3: 381–410. https://doi.org/10.1111/j.1740-8784.2005.0020a.x.
  • Chittoor, Raveendra; Aulakh, Preet S.; Ray, Sougata (2015a), “Accumulative and Assimilative Learning, Institutional Infrastructure, and Innovation Orientation of Developing Economy Firms”, Global Strategy Journal, Vol. 5 No. 2: 133–53. https://doi.org/10.1002/gsj.1093.
  • Chittoor, Raveendra; Aulakh, Preet S.; Ray, Sougata (2015b), “What Drives Overseas Acquisitions by Indian Firms? A Behavioral Risk-Taking Perspective”, Management International Review, Vol. 55 No. 2: 255–75. https://doi.org/10.1007/s11575-015-0238-7.
  • Chittoor, Raveendra; Kale, Preshant; Puranam, Phanish (2015), “Business Groups in Developing Capital Markets: Towards a Complementarity Perspective”, Strategic Management Journa,l Vol. 36: 1277–96. https://doi.org/10.1002/smj.
  • Chung, Hsi Mei (2008), “Particularistic Ties and the Engagements in China : Evidence from Taiwan ’ s Business Groups , 1999-2003”, In IACMR Biennial Conference (The International Association for Chinese Management Research), Guangzhou, China, June, 2008.
  • Chung, Hsi Mei (2008), “Ownership Structure, Expatriate Policy, and Regionalization: Evidence from Taiwan’s Family Business Groups, 2000-2002”, Multinational Business Review, Vol. 16 No. 2: 43–64. https://doi.org/10.1108/1525383X200800007.
  • Chung, Hsi Mei (2013), “The Role of Family Management and Family Ownership in Diversification: The Case of Family Business Groups”, Asia Pacific Journal of Management, Vol. 30 No. 3: 871–91. https://doi.org/10.1007/s10490- 012-9284-x.
  • Collinson, Simon C.; Pettigrew, Andrew M. (2009), “Comparative International Business Research Methods: Pitfalls and Practicalities”, (Ed. Alan M. Rugman), The Oxford Handbook of International Business, 2nd ed., New York: Oxford University Press: 765–96. https://doi.org/10.1093/oxfordhb/9780199234257.003.0027.
  • Colpan, Asli M. (2010), “Business Groups in Turkey”, (Ed. Asli M. Colpan; Takashi Hikino; James R. Lincoln), The Oxford Handbook of Business Groups, Oxford University Press: 486–525.
  • Colpan, Asli M.; Hikino, Takashi (2008), “Türkiye’nin Büyük Şirketler Kesiminde İşletme Gruplarının İktisadi Rolü ve Çeşitlendirme Stratejileri”, Yönetim Araştırmaları Dergisi, Vol. 8 No. 1: 23–58.
  • Colpan, Asli M.; Hikino, Takashi (2010), “Foundations of Business Groups: Towards an Integrated Framework”, (Ed. Asli M. Colpan; Takashi Hikino; James R. Lincoln), The Oxford Handbook of Business Groups, New York: Oxford University Press: 15–66.
  • Colpan, Asli M.; Jones, Geoffrey (2016), “Business Groups, Entrepreneurship and the Growth of the Koç Group in Turkey”, Business History, Vol. 58 No. 1: 69–88. https://doi.org/10.1080/00076791.2015.1044521.
  • Cuervo-Cazurra, Alvaro (2011), “Selecting the Country in Which to Start Internationalization: The Non-Sequential Internationalization Model”, Journal of World Business, Vol. 46 No. 4: 426–37. https://doi.org/10.1016/j.jwb.2010.10.003.
  • Cuervo-Cazurra, Alvaro (2012), “Extending Theory by Analyzing Developing Country Multinational Companies: Solving the Goldilocks Debate”, Global Strategy Journal, Vol. 2 No. 3: 153–67. https://doi.org/10.1111/j.2042- 5805.2012.01039.x.
  • Cuervo-Cazurra, Alvaro; Genc, Mehmet (2008), “Transforming Disadvantages into Advantages: Developing-Country MNEs in the Least Developed Countries”, Journal of International Business Studies, Vol. 39 No. 6: 957–79. https://doi.org/10.1057/palgrave.jibs.8400390.
  • Dau, Luis Alfonso; Ayyagari, Meghana; Spencer, Jennifer (2015), “Strategic Responses to FDI in Emerging Markets: Are Core Members More Responsive than Peripheral Members of Business Groups?”, Academy of Management Journal, Vol. 58 No. 6: 1869–94. https://doi.org/http://dx.doi.org/10.5465/amj.2012.0521.
  • DEIK (2014) “Turkish OFDI Continues to Grow” http://ccsi.columbia.edu/files/2014/03/EMGP-Turkey-Report-March24-2014.pdf.
  • Dirlik, Sinan (2014), “Türkiye ’ de Egemen İktisadi Aktörler Olarak İşletme Grupları”, Finans, Politik ve Ekonomik Yorumlar, Vol. 51 No. 594: 9–36.
  • Dirlik, Sinan; Asunakutlu, Tuncer (2014), “Türkiye’deki İşletme Gruplarının Uluslararasılaşması: Kaynak Esaslı Yaklaşım” 22. Ulusal Yönetim ve Organizasyon Kongresi, 498–508. Konya.
  • Dunning, John H.; Lundan, Sarianna M. (2008), “Institutions and the OLI Paradigm of the Multinational Enterprise”, Asia Pacific Journal of Management, Vol. 25 No. 4: 573–93. https://doi.org/10.1007/s10490-007-9074-z.
  • Dunning, John H. (1988), “The Eclectic Paradigm of International Production: A Restatement and Some Possible Extensions”, Journal of International Business Studies, Vol. 19 No. 1: 1–31.
  • Elango, B.; Pattnaik, Chinmay (2007), “Building Capabilities for International Operations through Networks: A Study of Indian Firms”, Journal of International Business Studies, Vol. 38 No. 4: 541–55. https://doi.org/10.1057/palgrave.jibs.8400280.
  • Erdener, Carolyn; Shapiro, Daniel M. (2005), “The Internationalization of Chinese Family Enterprises and Dunning’s Eclectic MNE Paradigm”, Management and Organization Review, Vol. 1 No. 3: 411–36. https://doi.org/10.1111/j.1740-8784.2005.00021.x.
  • Erdilek, Asim (2008), “Internationalization of Turkish MNEs”, Journal of Management Development, Vol. 27 No. 7: 744– 60. https://doi.org/10.1108/02621710810883634.
  • Eren-Erdogmus, Irem; Cobanoglu, Emine; Yalcin, Muge; Ghauri, Pervez N. (2010), “Internationalization of Emerging Market Firms: The Case of Turkish Retailers”, International Marketing Review, Vol. 27 No. 3: 316–37. https://doi.org/10.1108/02651331011048014.
  • Gaur, Ajai S.; Kumar, Vikas; Singh, Deeksha (2014), “Institutions, Resources, and Internationalization of Emerging Economy Firms”, Journal of World Business, Vol. 49 No. 1: 12–20. https://doi.org/10.1016/j.jwb.2013.04.002.
  • Ghemawat, Pankaj; Khanna, Tarun (1988), “The Nature of Diversified Business Groups: A Research Design and Two Case Studies”, Journal of Industrial Economics, Vol. 46 No. 1: 34–61. http://www.jstor.org/stable/117530%5Cnhttp://about.jstor.org/terms.
  • Gökşen, Nisan S.; Üsdiken, Behlük (2001), “Uniformity and Diversity in Turkish Business Groups : Effects of Scale and Time of Founding”, British Journal of Management, Vol. 12: 325–40. https://doi.org/10.1111/1467-8551.00213.
  • Goldstein, Andrea (2009), “Multinational Companies from Emerging Economies Composition, Conceptualization & Direction in the Global Economy”, Indian Journal of Industrial Relations, Vol. 45 No. 1: 137–47. https://doi.org/10.2307/27768260.
  • Granovetter, Mark (2005), “Business Groups and Social Organization”, (Ed. Neil J. Smelser; Richard Swedberg), The Handbook of Economic Sociology, 2nd ed., New York: Princeton University Press: 429.
  • Gu, Qian; Lu, Jane Wenzhen; Chung, Chi-Nien (2019) “Incentive or Disincentive? A Socioemotional Wealth Explanation of New Industry Entry in Family Business Groups”, Journal of Management, Vol. 45 No. 2: 645-672 https://doi.org/10.1177/0149206316678450.
  • Gubbi, Sathyajit R.; Ray, Sougata; Aulakh, Preet S. (2015), “International Search Behavior of Business Group Affiliated Firms : Scope of Institutional Changes and Intragroup Heterogeneity”, Organization Science, Vol. 26 No. 5: 1485– 1501. https://doi.org/10.1287/orsc.2015.0990.
  • Guillen, Mauro F. (2000), “Business Groups in Emerging Economies :A Resource-Based View”, The Academy of Management Journal, Vol. 43 No. 3: 362–80.
  • Hennart, Jean-François (2012), “Emerging Market Multinationals and the Theory of the Multinational Enterprise”, Global Strategy Journal, Vol. 2 No. 3: 168–87. https://doi.org/10.1111/j.2042-5805.2012.01038.x.
  • Hitt, Micheal A.; Dacin, M. Tina; Levitas, Edward; Arregle, Jean-Luc; Borza, Anca (2000), “Partner Selection in Emerging and Developed Market Contexts : Resource-Based and Organizational Learning Perspectives”, Academy of Management Journal, Vol. 43 No. 3: 449–67.
  • Holmes, R. Michael; Hoskisson, Robert E.; Kim, Hicheon; Wan, William P.; Holcomb, Tim R. (2018), “International Strategy and Business Groups: A Review and Future Research Agenda”, Journal of World Business, Vol. 53 No. 2: 134–50. https://doi.org/10.1016/j.jwb.2016.11.003.
  • Hoskisson, Robert E.; Lau, Chung-Ming; Eden, Lorraine; Wright, Mike (2000), “Strategy in Emerging Economies”, The Academy of Management Journal, Vol. 43 No. 3: 249–67. https://doi.org/10.2307/1556394.
  • Hymer, Stephen Herbert (1976), The International Operations of National Firms: A Study of Direct Foreign Investment, Cambridge: The MIT Press.
  • Johanson, Jan; Vahlne, Jan-Erik (1977), “The Internationalization Process of the Firm—A Model of Knowledge Development and Increasing Foreign Market Commitments”, Journal of International Business Studies, Vol. 8 No. 1: 23–32. https://doi.org/10.1057/palgrave.jibs.8490676.
  • Johanson, Jan; Vahlne, Jan-Erik (2015) “The Uppsala Internationalization Process Model Revisitied: From Liability of Foreignness to Liability of Outsidership”, (Ed. Peter J. Buckley; Pervez N. Ghauri), International Business Strategy: Theory and Practice, New York: Routledge: 33–59.
  • Karaevli, Ayse (2008), “Türkı̇ye’dekı̇ İşletme Gruplarinda Çeşı̇tlendı̇rme Stratejı̇lerı̇nı̇n Evrı̇mı̇", Yönetim Araştırmaları Dergisi, Vol. 8 No. 1–2: 85–107.
  • Kaya, Harun; Erden, Deniz (2008), “Firm-specific Capabilities and Foreign Direct Investment Activities of Turkish Manufacturing Firms”, Journal of Management Development, Vol. 27 No. 7: 761–77. https://doi.org/10.1108/02621710810883643.
  • Khanna, Tarun; Palepu, Krishna (2000a), “Is Group Affiliation Profitable in Emerging Markets? An Analysis of Diversified Indian Business Groups”, Journal of Finance, Vol. 55 No. 2: 867–91. https://doi.org/10.1111/0022-1082.00229.
  • Khanna, Tarun; Palepu, Krishna (2000b), “The Future of Business Groups in Emerging Markets: Long-Run Evidence from Chile”, The Academy of Management Journal, Vol. 43 No. 3: 268–85.
  • Khanna, Tarun; Palepu, Krishna (1997), “Why Focused Strategies May Be Wrong for Emerging Markets”, Harvard Business Review, Vol. 74 No. 4: 41-51.
  • Khanna, Tarun; Rivkin, Jan W. (2001), “Estimating the Performance Effects of Business Groups in Emerging Markets”, Strategic Management Journal, Vol. 22 No. 1: 45–74. https://doi.org/10.1002/1097-0266(200101)22:1<45::AIDSMJ147>3.0.CO;2-F.
  • Khanna, Tarun; Yafeh, Yishay (2010), “Business Groups in Emerging Markets: Paragons or Parasites?”, (Ed. Asli M. Colpan; Takashi Hikino; James R. Lincoln), The Oxford Handbook of Business Groups, New York: Oxford University Press. https://doi.org/10.1093/oxfordhb/9780199552863.003.0020.
  • Kim, Daekwan; Kandemir, Destan; Cavusgil, S Tamer (2004), “The Role of Family Conglomerates in Emerging Markets: What Western Companies Should Know”, Thunderbird International Business Review, Vol. 46 No. 517: 13–38. https://doi.org/10.1002/tie.10108.
  • Knight, Gary A.; Cavusgil, S. Tamer (2004), “Innovation, Organizational Capabilities, and the Born-Global Firm”, Journal of International Business Studies, Vol. 35 No. 2: 124–41. https://doi.org/10.1057/palgrave.jibs.8400071.
  • Kumar, Vikas; Gaur, Ajai S.; Pattnaik, Chinmay (2012), “Product Diversification and International Expansion of Business Groups: Evidence from India”, Management International Review, Vol. 52 No. 2: 175–92. https://doi.org/10.1007/s11575-012-0133-4.
  • Lamin, Anna (2013), “Business Groups as Information Resource: An Investigation of Business Group Affiliation in the Indian Software Services Industry”, Academy of Management Journal, Vol. 56 No. 5: 1487–1509.
  • Leff, Nathaniel H. (1978), “Industrial Organization and Entrepreneurship in the Developing Countries: The Economic Groups”, Economic Development and Cultural Change, Vol. 26 No. 4: 661–75. https://doi.org/10.1086/451052.
  • Luo, Yadong (2000), “Dynamic Capabilities in International Expansion”, Journal of World Business, Vol. 35 No. 4: 355– 78. https://doi.org/10.1016/S1090-9516(00)00043-2.
  • Luo, Yadong; Tung, Rosalie L. (2007), “International Expansion of Emerging Market Enterprises: A Springboard Perspective”, Journal of International Business Studies, Vol. 38 No. 4: 481–98. https://doi.org/10.1057/palgrave.jibs.8400275.
  • Luo, Yadong; Wang, Stephanie Lu (2012), “Foreign Direct Investment Strategies by Developing Country Multinationals: A Diagnostic Model for Home Country Effects”, Global Strategy Journal, Vol. 2 No. 3: 244–61. https://doi.org/10.1111/j.2042-5805.2012.01036.x.
  • Ma, Xufei; Yao, Xiaotao; Xi, Youmin (2006), “Business Group Affiliation and Firm Performance in a Transition Economy: A Focus on Ownership Voids”, Asia Pacific Journal of Management, Vol. 23 No. 4: 467–83. https://doi.org/10.1007/s10490-006-9011-6.
  • Manikandan, K. S.; Ramachandran, Kavil (2015), “Business Groups in Developing Capital Markets: Towards a Complementarity Perspective”, Strategic Management Journal, Vol. 36: 598–617. https://doi.org/10.1002/smj.
  • Mathews, John A. (2006), “Dragon Multinationals: New Players in 21st Century Globalization”, Asia Pacific Journal of Management, Vol. 23 No. 1: 5–27. https://doi.org/10.1007/s10490-006-6113-0.
  • Morck, Randall; Yeung, Bernard (2003), “Agency Problems in Large Family Business Groups”, Entrepreneurship Theory and Practice, Vol. 27 No. 4: 367–82.
  • North, Douglass (1990), “Institutions, Institutional Change, and Economic Performance”, Economic Perspective, Vol. 5 No. 1: 97–112.
  • Önis, Ziya (1992), “Redemocratization and Economic Liberalization in Turkey: The Limits of State Autonomy”, Studies In Comparative International Development, Vol. 27 No. 2: 3–23. https://doi.org/10.1007/BF02687108.
  • Peng, Mike W.; Jiang, Yi (2010), “Institutions behind Family Ownership and Control in Large Firms”, Journal of Management Studies, Vol. 47 No. 2: 253–73. https://doi.org/10.1111/j.1467-6486.2009.00890.x.
  • Peng, Mike W.; Wang, Denis Y.L.; Jiang, Yi (2008), “An Institution-Based View of International Business Strategy: A Focus on Emerging Economies”, Journal of International Business Studies, Vol. 39 No. 5: 920–36. https://doi.org/10.1057/palgrave.jibs.8400377.
  • Peng, Mike W. (2012), “The Global Strategy of Emerging Multinationals from China”, Global Strategy Journal, No. 107: 97–107. https://doi.org/10.1111/j.2042-5805.2012.01030.x.
  • Peng, Mike W.; Lee, Seung-hyun; Wang, Denis Y L. (2005), “What Determines the Scope of the Firm over Time? A Focus on Institutional Relatedness”, Academy of Management Review, Vol. 30 No. 3: 622–33.
  • Penrose, Edith (2009), Theory of the Growth of the Firm, Oxford: Oxford University Press.
  • Purkayastha, Anish; Kumar, Vikas (2016), “Diversified Business Group and Internationalization: A Social Capital Perspective”, In Strategic Management Society 36th Annual Conference, 117. Berlin.
  • Purkayastha, Saptarshi; Manolova, Tatiana S.; Edelman, Linda F. (2018), “Business Group Effects on the R&D IntensityInternationalization Relationship: Empirical Evidence from India”, Journal of World Business, Vol. 53 No. 2: 104– 17. https://doi.org/10.1016/j.jwb.2016.11.004.
  • Ramamurti, Ravi (2009), “Why Study Emerging-Market Multinationals?”, (Ed. Ravi Ramamurti; Jitendra V. Singh), Emerging Multinationals in Emerging Markets, New York: Cambridge University Press: 3–22. https://doi.org/10.1017/CBO9780511576485.001.
  • Ramamurti, Ravi (2011), “New Players In FDI: Soverign Wealth Funds, Private Equity, and Emerging Market Multinationals”, The Future of Foreign Direct Investment and the Multinational Enterprise Research in Global Strategic Management, Vol. 15: 137–65.
  • Ramamurti, Ravi (2012), “Competing with Emerging Market Multinationals”, Business Horizons, Vol. 55 No. 3: 241–49. https://doi.org/10.1016/j.bushor.2012.01.001.
  • Rugman, Alan M.; Verbeke, Alain (2003), “Extending the Theory of the Multinational Enterprise: Internalization and Strategic Management Perspectives”, Journal of International Business Studies, Vol. 34 No. 2: 125–37. https://doi.org/10.1057/palgrave.jibs.8400012.
  • Satta, Giovanni; Parola, Francesco; Persico, Luca (2014), “Temporal and Spatial Constructs in Service Firms’ Internationalization Patterns: The Determinants of the Accelerated Growth of Emerging MNEs”, Journal of International Management, Vol. 20 No. 4: 421–35. https://doi.org/10.1016/j.intman.2014.05.001.
  • Selekler-Gökşen, Nisan; Yildirim-Öktem, Özlem (2008), “The Impact of Board Characteristics on the Internationalization of Business Group Affiliates”, Bogazici Journal, Vol. 22 No. 1–2: 53–71.
  • Singla, Chitra; George, Rejie (2013), “Internationalization and Performance: A Contextual Analysis of Indian Firms”, Journal of Business Research, Vol. 66 No. 12: 2500–2506. https://doi.org/10.1016/j.jbusres.2013.05.041.
  • Stal, Eva; Cuervo-Cazurra, Alvaro (2011), “The Investment Development Path and FDI From Developing Countries : The Role of Pro-Market Reforms and Institutional Voids”, Latin American Business Review, Vol. 12 No. 3: 209–31. https://doi.org/10.1080/10978526.2011.614174.
  • Tan, Danchi; Meyer, Klaus E. (2010), “Business Groups’ Outward FDI: A Managerial Resources Perspective”, Journal of International Management, Vol. 16 No. 2: 154–64. https://doi.org/10.1016/j.intman.2010.03.006.
  • Tsai, Huei-Ting; Eisingerich, Andreas B. (2010), “Internationalization Strategies of Emerging Markets Firms”, California Management Review, Vol. 53 No. 1: 114–35. https://doi.org/10.1525/cmr.2010.53.1.114. UNCTAD (2018), “World Investment Report:Investment and New Industrial Policies.”
  • Verma, Sharad; Sanghi, Kanika; Michaelis, Holger; Dupoux, Patrick; Khanna, Dinesh; Peters, Philippe (2011), “Companies on the Move: Rising Stars from Rapidly Developing Economies Are Reshaping Global Industries”, Boston.
  • Welch, Lawrence S.; Luostarinen, Reijo (1988), “Internationalization: Evolution of a Concept”, Journal of General Management, Vol. 14 No. 2: 34–55. https://doi.org/10.1177/030630708801400203.
  • Whitley, Richard (1998), “Internationalization and Varieties of Capitalism: The Limited Effects of Cross-National Coordination of Economic Activities on the Nature of Business Systems”, Review of International Political Economy, Vol. 5 No. 3: 445–81. https://doi.org/10.1080/096922998347480.
  • Williamson, Oliver E. (1979), “Transaction-Cost Economics : The Governance of Contractual Relations”, The Journal of Law & Economics, Vol. 22 No. 2: 233–61.
  • Williamson, Peter J.; Raman, Anand P. (2013), “Cross-Border M&A and Competitive Advantage of Chinese EMNEs”, (Ed. Peter J. Williamson; Ravi Ramamurti; Afonso Fleury; Maria Tereza Leme Fleury) The Competitive Advantage of Emerging Market Multinationals, New York: Cambridge University Press: 191–219.
  • Wright, Mike; Filatotchev, Igor; Hoskinsson, Robert E.; Peng, Mike W. (2005), “Strategy Research in Emerging Economies: Challenging the Conventional Wisdom”, Journal of Management Studies, Vol. 42 No. 1: 1–33. https://doi.org/10.1111/j.1467-6486.2005.00487.x.
  • Xia, Jun; Ma, Xufei; Lu, Jane W.; Yiu, Daphne W. (2014), “Outward Foreign Direct Investment by Emerging Market Firms: A Resource Dependence Logic”, Strategic Management Journal, No. 35: 1343–63. https://doi.org/10.1002/smj.
  • Yamakawa, Yasuhiro; Peng, Mike W.; Deeds, David L. (2008), “What Drives New Venture to Internationalize from Emreging Economies”, Entrepreneurship: Theory and Practice, Vol. 1 No. 972: 59–82. https://doi.org/10.1136/jcp.35.12.1388.
  • Yaprak, Attila; Karademir, Bahattin (2010), “The Internationalization of Emerging Market Business Groups: An Integrated Literature Review”, International Marketing Review, Vol. 27 No. 2: 245–62. https://doi.org/10.1108/02651331011037548.
  • Yaprak, Attila; Karademir, Bahattin (2011), “Emerging Market Multinationals’ Role in Facilitating Developed Country Multinationals’ Regional Expansion: A Critical Review of the Literature and Turkish MNC Examples”, Journal of World Business, Vol. 46 No. 4: 438–46. https://doi.org/10.1016/j.jwb.2010.10.004.
  • Yaprak, Attila; Karademir, Bahattin; Osborn, Richard N. (2006), “How Do Business Groups Function and Evolve in Emerging Markets? The Case of Turkish Business Groups”, Advances in International Marketing, Vol. 17 No. 6: 275– 94. https://doi.org/10.1016/S1474-7979(06)17010-6.
  • Yildirim-Öktem, Özlem; Selekler-Göksen, Nisan (2018), “Internationalization of Family Business Groups: Content Analysis of the Literature and a Synthesis Model”, European Journal of Family Business, Vol. 8 No. 1: 45–68. https://doi.org/10.24310/ejfbejfb.v8i1.4146.
  • Yiu, Daphne W. (2011), “Multinational Advantages of Chinese Business Groups: A Theoretical Exploration”, Management and Organization Review, Vol. 7 No. 2: 249–77. https://doi.org/10.1111/j.1740-8784.2010.00210.x.
  • Yiu, Daphne W.; Lu, Yuan; Bruton, Garry D.; Hoskisson, Robert E. (2007), “Business Groups: An Integrated Model to Focus Future Research”, Journal of Management Studies, Vol. 44 No. 8: 1551–79. https://doi.org/10.1111/j.1467- 6486.2007.00735.x.
  • Yiu, Daphne W.; Ng, Frank W; Ma, Xufei (2013), “Business Group Attributes and Internationalization Strategy in China”, Asian Business & Management, Vol. 12 No. 1: 14–36. https://doi.org/10.1057/abm.2012.38.
  • Yurtoglu, BB. (2000), “Ownership, Control and Performance of Turkish Listed Firms”, Empirica No. 27: 193–222. http://link.springer.com/article/10.1023/A:1026557203261.
  • Zaheer, Srilata (1995), “Overcoming the Liability of Foreignness”, The Academy of Management Journal, Vol. 38 No. 2: 341–63. http://www.jstor.org/stable/256683%0Ahttp://about.jstor.org/terms.
APA KAYACI A, Ataay Saybaşılı A (2020). A Conceptual Framework of Internationalization of Family Business Groups: Turkey Context. , 677 - 698.
Chicago KAYACI AYSE,Ataay Saybaşılı Aylin A Conceptual Framework of Internationalization of Family Business Groups: Turkey Context. (2020): 677 - 698.
MLA KAYACI AYSE,Ataay Saybaşılı Aylin A Conceptual Framework of Internationalization of Family Business Groups: Turkey Context. , 2020, ss.677 - 698.
AMA KAYACI A,Ataay Saybaşılı A A Conceptual Framework of Internationalization of Family Business Groups: Turkey Context. . 2020; 677 - 698.
Vancouver KAYACI A,Ataay Saybaşılı A A Conceptual Framework of Internationalization of Family Business Groups: Turkey Context. . 2020; 677 - 698.
IEEE KAYACI A,Ataay Saybaşılı A "A Conceptual Framework of Internationalization of Family Business Groups: Turkey Context." , ss.677 - 698, 2020.
ISNAD KAYACI, AYSE - Ataay Saybaşılı, Aylin. "A Conceptual Framework of Internationalization of Family Business Groups: Turkey Context". (2020), 677-698.
APA KAYACI A, Ataay Saybaşılı A (2020). A Conceptual Framework of Internationalization of Family Business Groups: Turkey Context. Eskişehir Osmangazi Üniversitesi İktisadi ve İdari Bilimler Dergisi, 15(2), 677 - 698.
Chicago KAYACI AYSE,Ataay Saybaşılı Aylin A Conceptual Framework of Internationalization of Family Business Groups: Turkey Context. Eskişehir Osmangazi Üniversitesi İktisadi ve İdari Bilimler Dergisi 15, no.2 (2020): 677 - 698.
MLA KAYACI AYSE,Ataay Saybaşılı Aylin A Conceptual Framework of Internationalization of Family Business Groups: Turkey Context. Eskişehir Osmangazi Üniversitesi İktisadi ve İdari Bilimler Dergisi, vol.15, no.2, 2020, ss.677 - 698.
AMA KAYACI A,Ataay Saybaşılı A A Conceptual Framework of Internationalization of Family Business Groups: Turkey Context. Eskişehir Osmangazi Üniversitesi İktisadi ve İdari Bilimler Dergisi. 2020; 15(2): 677 - 698.
Vancouver KAYACI A,Ataay Saybaşılı A A Conceptual Framework of Internationalization of Family Business Groups: Turkey Context. Eskişehir Osmangazi Üniversitesi İktisadi ve İdari Bilimler Dergisi. 2020; 15(2): 677 - 698.
IEEE KAYACI A,Ataay Saybaşılı A "A Conceptual Framework of Internationalization of Family Business Groups: Turkey Context." Eskişehir Osmangazi Üniversitesi İktisadi ve İdari Bilimler Dergisi, 15, ss.677 - 698, 2020.
ISNAD KAYACI, AYSE - Ataay Saybaşılı, Aylin. "A Conceptual Framework of Internationalization of Family Business Groups: Turkey Context". Eskişehir Osmangazi Üniversitesi İktisadi ve İdari Bilimler Dergisi 15/2 (2020), 677-698.