Akademik Veri Yönetim Sistemi
Tezin Türü: Yüksek Lisans
Tezin Yürütüldüğü Kurum: İstanbul Okan Üniversitesi, LİSANSÜSTÜ EĞİTİM ENSTİTÜSÜ , Business Administration in English Program, Türkiye
Tezin Onay Tarihi: 2024
Tezin Dili: İngilizce
Öğrenci: Bashayer YASER HEJAZI
Danışman: Emel Bacha Sımöes
Özet:
This
research aimed to study corporate governance, diversification, and firm
performance. Specifically, it examined how firm level characteristics,
corporate governance mechanisms and diversification affected firm performance
and how the interaction between governance mechanisms and diversification
strategies affected firm performance. The study sample comprised of 205
publicly listed Turkish manufacturing companies over the 2009-2022 periods. Firm
level characteristics were determined to include firm size, leverage, liquidity
and efficiency. Corporate governance is measured through board size, CEO
duality, and board independence. Diversification is assessed using industrial
diversification and geographic diversification. Diversification measures are the
number of segments, diversification dummy and the Jacquemin-Berry entropy index.
Firm performance is determined using various performance measures, such as
return on sales.. The analysis was conducted using pooled Ordinary Least
Squares (OLS), fixed effects estimation, and random effects estimation methods.
Additionally, the system GMM method was used to control endogeneity problem. The results indicated that firm size, efficiency, and GDP affected
firm performance positively. The findings revealed that firm performance, as
measured by return on sales, is positively and significantly affected by board
independence. The relationship between board size and firm performance is found
to be significantly negative. However, CEO duality has no significant effect on
performance. The results further showed a positive relationship between
diversification and firm performance. However, when
board size and diversification increase at once, firm performance decreases. Additionally,
when both board independence and diversification degree increase
simultaneously, this negatively impacts on firm performance.