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Financial crisis and firm performance : empirical evidence from Turkey

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dc.contributor.author Gonenc, Halit
dc.contributor.author Aybar, C. Bulent
dc.date.accessioned 2010-10-27T20:32:28Z
dc.date.available 2010-10-27T20:32:28Z
dc.date.issued 2006-07
dc.identifier.uri http://hdl.handle.net/10474/1246
dc.description Version of Record en_US
dc.description.abstract The objective of this study is to examine the impact of concentrated ownership and business group affiliation on the performance of Turkish firms during the financial crisis by controlling balance sheet currency exposure, international involvement and firm size. Our analysis focuses on a 12-month window encapsulating the February 2001 financial crisis. Our findings show that balance sheet exposure is the key determinant of the firm performance during the crisis periods. While we find evidence that firms with higher concentrated ownership experience lower stock market performance prior and during the financial crisis, business group affiliation does not have any impact on the performance. However, there is weak evidence that stock market performance increases with the level of business group diversification. en_US
dc.format.extent 354216 bytes en_US
dc.language.iso en_US en_US
dc.publisher Blackwell Publishing Ltd. en_US
dc.relation.requires Adobe Acrobat Reader en_US
dc.rights Author retains all ownership rights. Further reproduction in violation of copyright is prohibited en_US
dc.subject.other emerging markets en_US
dc.subject.other Turkey en_US
dc.subject.other diversification en_US
dc.subject.other international financial markets
dc.title Financial crisis and firm performance : empirical evidence from Turkey en_US
dc.type Article en_US
dc.description.bibliographicCitation Gonenc, H. & Aybar, C. B. (2006). Financial Crisis and Firm Performance: Empirical Evidence from Turkey. Corporate Governance: An International Review, 14(4), 297-311. doi: 10.1111/j.1467-8683.2006.00508.x en_US
dc.format.mediaType application/pdf en_US
dc.rightsHolder Gonenc, Halit
dc.rightsHolder Aybar, C. Bulent


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