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Journals / Finans Politik ve Ekonomik Yorumlar Dergisi / 2014 / Cilt: 51 - Sayı: 588

Ownership structure and firm performance: An ınvestigation on listing İstanbul

Sahiplik yapısı ve firma performansı: Borsa İstanbul üzerine bir inceleme

Aysel AKÇAY
MEHMET AYGÜN
Pages
45–57
DOI
—
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AI Summary & Key Takeaways

AI Insight
⚡ TL;DR(Too Long; Didn't Read)

According to the results of the study, there is a positive and statistically significant relationship between the indicators of ownership structure and Tobin’s q.

📌 3 Key Takeaways

🎯
Objective & Hypothesis:The aim of this study to investigate relationship between ownership structure and firm performance.
📊
Key Findings & Data:In the study, as firm performance two measurements are used: one is accounting-based (ROE), another one is market-based (Tobin’s q).
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Conclusion & Impact:According to the results of the study, there is a positive and statistically significant relationship between the indicators of ownership structure and Tobin’s q.
🔬Design:Research Article
📍Scope:2009 Verileri
⚙️Variables:Domain Parameters

Abstract

The aim of this study to investigate relationship between ownership structure and firm performance. In the study used largest shareholders, three largest shareholders, foreign ownership and institutional ownership as indicator of ownership structures. In the study, as firm performance two measurements are used: one is accounting-based (ROE), another one is market-based (Tobin’s q). In the study including 2009–2010 periods and datas of 117 of Istanbul Stock Exchange listed firms, regression, and correlation analysis are used. According to the results of the study, there is a positive and statistically significant relationship between the indicators of ownership structure and Tobin’s q. However, no significant relation was found between ROE and indicators of ownership structure.

Özet

Bu çalışmanın amacı sahiplik yapısı ve firma performansı arasındaki ilişkiyi incelemektir. Çalışmada sahiplik yapısı göstergesi olarak en büyük hissedar payı, en büyük üç hissedar payı, yabancı sahiplik ve kurumsal sahiplik kullanılmıştır. Çalışmada firma performans göstergesi olarak biri muhasebe temelli (ROE) biri de piyasa temelli (Tobin’s q) olmak üzere iki değişken kullanılmıştır. 2009-2010 yıllarını kapsayan ve İstanbul Menkul Kıymetler Borsası’na kayıtlı 117 firma verisinden yararlanılan çalışmada regresyon ve korelasyon analizlerinden yararlanılmıştır. Yapılan analiz sonucunda sahiplik yapısı göstergeleri ile Tobin’s q arasında pozitif ve istatistiksel olarak anlamlı ilişkiler elde edilmiştir. Buna karşın ROE ile sahiplik yapısı göstergeleri arasında anlamlı ilişkiler bulunmamıştır.

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Cite This Article

AKÇAY, A., AYGÜN, M. (2014). Ownership structure and firm performance: An ınvestigation on listing İstanbul. Finans Politik ve Ekonomik Yorumlar Dergisi, Cilt: 51 - Sayı: 588, 45–57. https://ajindex.com/articles/223939

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