search query: @author Gonenc, H. / total: 3
reference: 2 / 3
| Author: | Gonenc, H. Bulent Aybar, C. |
| Title: | Financial crisis and firm performance: empirical evidence from Turkey |
| Journal: | Corporate governance
2006 : JUL, VOL 14:4, p. 297-311 |
| Index terms: | financial crises company performance exchange rates emerging markets Turkey groups currency |
| Freeterms: | concentrated ownership |
| Language: | eng |
| Abstract: | This article explores the effect of concentrated ownership and business group affiliation on the performance of Turkish firms during the February 2001 financial crisis by controlling balance sheet currency exposure, international involvement and company size. The results indicate that balance sheet exposure is the key determinant of the firm performance during the crisis periods. Companies with higher concentrated ownership have lower stock market performance prior and during the crisis, but business group affiliation does not have any effect on the performance. There is still weak evidence that stock market performance increases with the level of business group diversification. |
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