Corporate Diversification, Grup Affiliation and Firm Value: Evidence from Turkey

AKBEN SELÇUK, ELİF

Corporate Diversification, Grup Affiliation and Firm Value: Evidence from Turkey

Elif AKBEN SELÇUK (Kadir Has Üniversitesi, İktisadi, İdari ve Sosyal Bilimler Fakültesi, İşletme Bölümü)

BDDK Bankacılık ve Finansal Piyasalar Dergisi

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Yıl: 2014 Cilt: 8 Sayı: 2 Sayfa Aralığı: 151 - 174 Metin Dili: Türkçe İndeks Tarihi: 29-07-2022

Corporate Diversification, Grup Affiliation and Firm Value: Evidence from Turkey

Öz:

Bu çalışmanın amacı, 2006 ve 2012 yılları arasında 255 Türk firmasından oluşanbir örneklemde kurumsal çeşitlendirmenin firma değerine etkisini incelemektir. Regresyonsonuçlarına göre, çeşitlendirilmiş firmalar uzman firmalara kıyasla çeşitlendirmeprimiyle faaliyet göstermektedir. Bu bulguyu açıklamak amacıyla işletme gruplarıylabağlantıların çeşitlendirme-değer ilişkisi üzerinde olası bir etkileşim etkisi araştırılmıştır.Analiz sonuçları, çeşitlendirme primi bulgusunun yalnızca işletme gruplarıyla bağlantılıolmayan firmalarda geçerli olduğunu ortaya koymaktadır. Bu sonuçlar grup şirketlerininçeşitlendirmenin faydalarını elde ettiklerini ve firma düzeyinde ek bir çeşitlendirmeyeihtiyaç duymadıklarını göstermektedir.

Anahtar Kelime:

Konular: İşletme İktisat

Kurumsal Çeşitlendirme, Grup Bağlantıları ve Firma Değeri: Türkiye Örneği

Öz:

The objective of this study is to investigate the impact of corporate diversification in a sample of 255 Turkish firms for the period between 2006 and 2012. Regression results indicate that diversified firms trade at a premium compared to single-segment firms. To explain this finding, we also investigate the possible moderating role of business group affiliation for the diversification-value relationship. Analysis results reveal that the diversification premium is confined to firms that are not affiliated with business groups. These results suggest that group members already capture the benefits of diversification without the need to diversify further at the firm level

Anahtar Kelime:

Konular: İşletme İktisat

Belge Türü: Makale Makale Türü: Araştırma Makalesi Erişim Türü: Erişime Açık

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APA	AKBEN SELÇUK E (2014). Corporate Diversification, Grup Affiliation and Firm Value: Evidence from Turkey. , 151 - 174.
Chicago	AKBEN SELÇUK ELİF Corporate Diversification, Grup Affiliation and Firm Value: Evidence from Turkey. (2014): 151 - 174.
MLA	AKBEN SELÇUK ELİF Corporate Diversification, Grup Affiliation and Firm Value: Evidence from Turkey. , 2014, ss.151 - 174.
AMA	AKBEN SELÇUK E Corporate Diversification, Grup Affiliation and Firm Value: Evidence from Turkey. . 2014; 151 - 174.
Vancouver	AKBEN SELÇUK E Corporate Diversification, Grup Affiliation and Firm Value: Evidence from Turkey. . 2014; 151 - 174.
IEEE	AKBEN SELÇUK E "Corporate Diversification, Grup Affiliation and Firm Value: Evidence from Turkey." , ss.151 - 174, 2014.
ISNAD	AKBEN SELÇUK, ELİF. "Corporate Diversification, Grup Affiliation and Firm Value: Evidence from Turkey". (2014), 151-174.

APA	AKBEN SELÇUK E (2014). Corporate Diversification, Grup Affiliation and Firm Value: Evidence from Turkey. BDDK Bankacılık ve Finansal Piyasalar Dergisi, 8(2), 151 - 174.
Chicago	AKBEN SELÇUK ELİF Corporate Diversification, Grup Affiliation and Firm Value: Evidence from Turkey. BDDK Bankacılık ve Finansal Piyasalar Dergisi 8, no.2 (2014): 151 - 174.
MLA	AKBEN SELÇUK ELİF Corporate Diversification, Grup Affiliation and Firm Value: Evidence from Turkey. BDDK Bankacılık ve Finansal Piyasalar Dergisi, vol.8, no.2, 2014, ss.151 - 174.
AMA	AKBEN SELÇUK E Corporate Diversification, Grup Affiliation and Firm Value: Evidence from Turkey. BDDK Bankacılık ve Finansal Piyasalar Dergisi. 2014; 8(2): 151 - 174.
Vancouver	AKBEN SELÇUK E Corporate Diversification, Grup Affiliation and Firm Value: Evidence from Turkey. BDDK Bankacılık ve Finansal Piyasalar Dergisi. 2014; 8(2): 151 - 174.
IEEE	AKBEN SELÇUK E "Corporate Diversification, Grup Affiliation and Firm Value: Evidence from Turkey." BDDK Bankacılık ve Finansal Piyasalar Dergisi, 8, ss.151 - 174, 2014.
ISNAD	AKBEN SELÇUK, ELİF. "Corporate Diversification, Grup Affiliation and Firm Value: Evidence from Turkey". BDDK Bankacılık ve Finansal Piyasalar Dergisi 8/2 (2014), 151-174.