Collaboration of foreign investors with local family business groups in Turkey: implications on firm performance Online publication date: Fri, 06-Mar-2015
by Sibel Yamak; Bengi Ertuna; Haluk Levent; Mehmet Bolak
European J. of International Management (EJIM), Vol. 9, No. 2, 2015
Abstract: This study investigates the nature of the collaborations of the foreign investor with the local family business groups, drawing out a range of possible implications on performance. Embracing a multi-theoretical approach, we use a panel data regression analysis on a sample of non-financial companies listed in Istanbul Stock Exchange during the period of 1999-2002. We find that the interaction of the foreign investor with local business groups may have both positive and negative consequences on performance, depending on the nature of the collaboration. In the case of local firms, there is a positive relationship between performance and the presence of a chairman who is a member of the family that owns the business group. Having such a chairman seems to have a negative effect on performance when foreign investors are involved. However, equity partnership with a local family business group contributes positively to the performance of foreign-involved companies.
Existing subscribers:
Go to Inderscience Online Journals to access the Full Text of this article.
If you are not a subscriber and you just want to read the full contents of this article, buy online access here.Complimentary Subscribers, Editors or Members of the Editorial Board of the European J. of International Management (EJIM):
Login with your Inderscience username and password:
Want to subscribe?
A subscription gives you complete access to all articles in the current issue, as well as to all articles in the previous three years (where applicable). See our Orders page to subscribe.
If you still need assistance, please email subs@inderscience.com
Our Blog 
Follow us on Twitter 
Visit us on Facebook