Ownership Level in Cross-border M&As of TurkishMNCs: The Role of Ownership Concentration andInstitutional Contexts

Ayşe Çoban KAYACI, (Dicle Üniversitesi, İktisadi ve İdari Bilimler Fakültesi, İşletme Bölümü, Diyarbakır, Türkiye)
Aylin ATAAY (Galatasaray Üniversitesi, İktisadi ve İdari Bilimler Fakültesi, İşletme Bölümü, İstanbul, Türkiye)
Ege Akademik Bakış
1 0
Yıl: 2021 Cilt: 21 Sayı: 4 Sayfa Aralığı: 319 - 331 Metin Dili: İngilizce DOI: 10.21121/eab.1018108 İndeks Tarihi: 09-12-2022

Ownership Level in Cross-border M&As of TurkishMNCs: The Role of Ownership Concentration andInstitutional Contexts

Öz:
This study investigates how ownership concentration effects the ownership level and institutional environment moderatesthis relationship in Cross-border Merger & Acquisitions of a sample of Turkish Multinational Corporations. Proposedrelationships based on institutional theory and socio-emotional wealth approach have been analyzed in a sample of 71 completed Cross-border Merger & Acquisition deals of Turkish firms between 1998-2017. Tobit regression model has beenoperationalized to test research hypotheses. While the findings have provided support for the positive relationship between concentrated ownership of acquiring firm and ownership level of target firm in Cross-border Merger & Acquisitions, thecontextual effects of formal and informal institutions could not provide evidence for moderating impacts. These findingshave implied the importance of using different theoretical approaches for distinct Emerging Market contexts like Turkey and how governance issues should be considered differently for Emerging Market firms to understand their Foreign Direct Investment decisions properly.
Anahtar Kelime: Emerging multinationals Turkey Ownership level Ownership Concentration : Cross-border merger and acquisitions

Belge Türü: Makale Makale Türü: Araştırma Makalesi Erişim Türü: Erişime Açık
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APA KAYACI A, Ataay Saybaşılı A (2021). Ownership Level in Cross-border M&As of TurkishMNCs: The Role of Ownership Concentration andInstitutional Contexts. , 319 - 331. 10.21121/eab.1018108
Chicago KAYACI AYSE,Ataay Saybaşılı Aylin Ownership Level in Cross-border M&As of TurkishMNCs: The Role of Ownership Concentration andInstitutional Contexts. (2021): 319 - 331. 10.21121/eab.1018108
MLA KAYACI AYSE,Ataay Saybaşılı Aylin Ownership Level in Cross-border M&As of TurkishMNCs: The Role of Ownership Concentration andInstitutional Contexts. , 2021, ss.319 - 331. 10.21121/eab.1018108
AMA KAYACI A,Ataay Saybaşılı A Ownership Level in Cross-border M&As of TurkishMNCs: The Role of Ownership Concentration andInstitutional Contexts. . 2021; 319 - 331. 10.21121/eab.1018108
Vancouver KAYACI A,Ataay Saybaşılı A Ownership Level in Cross-border M&As of TurkishMNCs: The Role of Ownership Concentration andInstitutional Contexts. . 2021; 319 - 331. 10.21121/eab.1018108
IEEE KAYACI A,Ataay Saybaşılı A "Ownership Level in Cross-border M&As of TurkishMNCs: The Role of Ownership Concentration andInstitutional Contexts." , ss.319 - 331, 2021. 10.21121/eab.1018108
ISNAD KAYACI, AYSE - Ataay Saybaşılı, Aylin. "Ownership Level in Cross-border M&As of TurkishMNCs: The Role of Ownership Concentration andInstitutional Contexts". (2021), 319-331. https://doi.org/10.21121/eab.1018108
APA KAYACI A, Ataay Saybaşılı A (2021). Ownership Level in Cross-border M&As of TurkishMNCs: The Role of Ownership Concentration andInstitutional Contexts. Ege Akademik Bakış, 21(4), 319 - 331. 10.21121/eab.1018108
Chicago KAYACI AYSE,Ataay Saybaşılı Aylin Ownership Level in Cross-border M&As of TurkishMNCs: The Role of Ownership Concentration andInstitutional Contexts. Ege Akademik Bakış 21, no.4 (2021): 319 - 331. 10.21121/eab.1018108
MLA KAYACI AYSE,Ataay Saybaşılı Aylin Ownership Level in Cross-border M&As of TurkishMNCs: The Role of Ownership Concentration andInstitutional Contexts. Ege Akademik Bakış, vol.21, no.4, 2021, ss.319 - 331. 10.21121/eab.1018108
AMA KAYACI A,Ataay Saybaşılı A Ownership Level in Cross-border M&As of TurkishMNCs: The Role of Ownership Concentration andInstitutional Contexts. Ege Akademik Bakış. 2021; 21(4): 319 - 331. 10.21121/eab.1018108
Vancouver KAYACI A,Ataay Saybaşılı A Ownership Level in Cross-border M&As of TurkishMNCs: The Role of Ownership Concentration andInstitutional Contexts. Ege Akademik Bakış. 2021; 21(4): 319 - 331. 10.21121/eab.1018108
IEEE KAYACI A,Ataay Saybaşılı A "Ownership Level in Cross-border M&As of TurkishMNCs: The Role of Ownership Concentration andInstitutional Contexts." Ege Akademik Bakış, 21, ss.319 - 331, 2021. 10.21121/eab.1018108
ISNAD KAYACI, AYSE - Ataay Saybaşılı, Aylin. "Ownership Level in Cross-border M&As of TurkishMNCs: The Role of Ownership Concentration andInstitutional Contexts". Ege Akademik Bakış 21/4 (2021), 319-331. https://doi.org/10.21121/eab.1018108
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