Financial crisis and firm performance : empirical evidence from Turkey

dc.contributor.authorGonenc, Halit
dc.contributor.authorAybar, C. Bulent
dc.date.accessioned2010-10-27T20:32:28Z
dc.date.available2010-10-27T20:32:28Z
dc.date.issued2006-07
dc.descriptionVersion of Recorden_US
dc.description.abstractThe 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.description.bibliographicCitationGonenc, 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.xen_US
dc.format.extent354216 bytesen_US
dc.format.mediaTypeapplication/pdfen_US
dc.identifier.urihttps://hdl.handle.net/10474/1246
dc.language.isoen_USen_US
dc.publisherBlackwell Publishing Ltd.en_US
dc.relation.requiresAdobe Acrobat Readeren_US
dc.rightsAuthor retains all ownership rights. Further reproduction in violation of copyright is prohibiteden_US
dc.rightsHolderGonenc, Halit
dc.rightsHolderAybar, C. Bulent
dc.subject.otheremerging marketsen_US
dc.subject.otherTurkeyen_US
dc.subject.otherdiversificationen_US
dc.subject.otherinternational financial markets
dc.titleFinancial crisis and firm performance : empirical evidence from Turkeyen_US
dc.typeArticleen_US

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