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İşletmeler İçin Uluslararasılaşmanın Önemi ve Finansal Performansa Olan Etkisine Yönelik Bir Araştırma

Yıl 2020, Cilt: 4 Sayı: 3, 789 - 805, 30.09.2020

Deniz Özbay Fulya Taşel

https://doi.org/10.29023/alanyaakademik.694843
Cited By: 1

Öz

Küreselleşmenin son yıllarda hız kazanmasıyla birlikte uluslararasılaşma ile ilgili birçok çalışma ve araştırma yapıldığı görülmektedir. Bu çalışmaların önemli bir bölümü, işletmeleri uluslararasılaşmaya iten faktörler ya da başka bir ifadeyle, uluslararsılaşma stratejilerinin işletmelere sağladıkları faydalar açısından konuyu ele almaktadır. Dolayısıyla, işletmelerin sürdürülebilirliği için vazgeçilmez bir unsur olan finansal performansla uluslararasılaşma arasındaki ilişkinin yapısı da yoğun olarak araştırılan bir konu olarak karşımıza çıkmaktadır. Bu çalışmanın amacı, meta analiz yöntemiyle, uluslararasılaşmanın finansal performansa etkisinin araştırılması ve bulguların tartışılmasıdır.

Anahtar Kelimeler

Uluslararasılaşma Finansal Performans Uluslararası İşletmeler Çok Ulusluluk

Kaynakça

  • Assaf, A. G., Josiassen, A., Ratchford, B. T., & Barros, C. P. (2012). Internationalization and Performance of Retail Firms: A Bayesian Dynamic Model. Journal of Retailing, 88(2), s. 191-205.
  • Barcellos, E. P., Cyrino, Á. B., Júnior, M. d., & Fleury, M. T. (2010). Does Internationalization Pay off? A Study of the Perceived Benefits and Financial Performance of the International Operations of Brazilian Companies. Journal Globalization, Competitiveness and Governability, 4(3), s. 38-61.
  • Bobillo, A. M., Iturriaga, F. L., & Gaite, F. T. (2010). Firm performance and international diversification: The internal and external competitive advantages. International Business Review, 19, s. 607-618.
  • Brewer, H. (1981). Investor From Benefit From Corporate International Diversification. Journal of Financial and Quantitative Analysis, 16(1), s. 113-126.
  • Buckley, P. J., Dunning, J. H., & Pearce, R. D. (1984). An Analysis of Growth and Profitability of the World's Largest Firms 1972 to 1977. Kyklos , 37(1), s. 3-26.
  • Buckley, P. J., Dunning, J. H., & Pearce, R. D. (1978). The Influence of Firm Size, Industry, Nationality, and Degree of Multinationality on the Growth and Profitability of the World's Largest Firms, 1962-1972. Weltwirtschaftliches Archiv, 114(2), s. 243-257.
  • Castellani, D., Montresor, S., Schubert, T., & A. V. (2017). Multinationality, R&D and productivity: Evidence from the top R&D investors worldwide. International Business Review, 26, s. 405-416.
  • Collins, J. M. (1990). A Market Performance Comparison of U.S. Firms Active in Domestic, Developed and Developing Countries. Journal of International Business Studies, 21(2), s. 271-287.
  • Contractor, F. J., Kumar, V., & Kundu, S. K. (2007). Nature of the relationship between international expansion and performance: The case of emerging market firms. Journal of World Business, 42, s. 401-417.
  • Contractor, F. J., Kundu, S. K., & Hsu, C.-C. (2003). A Three-Stage Theory of International Expansion: The Link between Multinationality andPerformance in the Service Sector. Journal of International Business Studies, 34(1), s. 5-18.
  • Çavuşgil, T. S., Knight, G., & Riesenberger, J. R. (2014). International Business: The New Realities (3. b.). England: Pearson.
  • Daniels, J. D., & Bracker, J. (1989). Do Foreign Operations Make a Difference? Management International Review, 29(1), s. 46-56.
  • Dowel, G., Hart, S., & Yeung, B. (2000). Do Corporate Global Environmental Standards Create or Destroy Market Value? Management Science, 46(8), s. 1059-1074.
  • Eckert, S., Dittfeld, M., Muche, T., & Rassler, S. (2010). Does multinationality lead to value enhancement? An empirical examination of publicly listed corporations from Germany. International Business Review, 19, s. 562-574.
  • Errunza, V. R., & Senbet, L. W. (1981). The Effects of International Operations on the Market Value of the Firm: Theory and Evidence. The Journal of Finance, 36(2), s. 401-417.
  • Geringer, J. M., Beamish, P. W., & daCosta, R. C. (1989). Diversification Strategy and Internationalization: Implication for MNE Performance. Strategic Management Journal, 10, s. 109-119.
  • Geringer, J. M., Tallman, S., & Olsen, D. M. (2000). Product and International Diversification among Japanese Multinational Firms. Strategic Management Journal, 21(1), s. 51-80.
  • Gomes, L., & Ramasway, K. (1999). An Empirical Examination of the Relationship Between Multinationality and Performance. Journal of International Business Studies, 30(1), s. 173-187.
  • Göker, İ. E., & Uysal, B. (2017, Ekim ). Uluslararasılaşma Düzeyi İle Finansal Performans İlişkisi: İmalat Sanayii Firmaları Üzerine Bir Araştırma. Muhasebe ve Finansman Dergisi, s. 157-172.
  • Grant, R. M. (1987). Multinationality and Performance among British Manufacturing Companies. Journal of International Business Studies, 18(3), s. 79-89.
  • Grant, R. M., Jammine, A. P., & Thomas, H. (1988). Diversity, Diversification, and Profitability Among British Manufacturing Companies, 1972-84. Academy of Management Journal, 31(4), s. 771-801.
  • Güngördü, A., & Yılmaz, K. G. (2016). Uluslararası Ticaret ve Yatırım Teorisi Olarak Eklektik Paradigma: Geçmişten Günümüze Bir Bakış. Atatürk Üniversitesi Sosyal Bilimler Enstitüsü Dergisi, 1003-1020.
  • Hitt, M. A., Hoskisson, R. E., & Kim, H. (1997). International Diversification: Effects on Innovation and Firm Performance in Product - Diversified Firms. Academy of Management Journal, 40(4), s. 767-798.
  • Ioulianou, S., Trigeorgis, L., & Driouchi, T. (2017). Multinationality and firm value: The role of real options awareness. Journal of Corporate Finance(46), s. 77-96.
  • Johanson, J., & Vahlne, J.-E. (1977). The Internationalization Process of the Firm-A Model of Knowledge Development and Increasing Foreign Market Commitments. Journal of International Business Studies, 8(1), 23-32.
  • Keller, W., & Yeaple, S. R. (2009). Multinational Enterprises, International Trade and Productivity Growth: Firm Level Evidence From The United States. The Review of Economics and Statistics, 91(4), s. 821-831.
  • Kırca, A. H., Fernandezb, W. D., & Kunduc, S. K. (2016). An empirical analysis and extension of internalization theory in emerging markets: The role of in the multinationality-performance relationship. Journal of World Business, 51, s. 628-640.
  • Kotabe, M., Srinivasan, S. S., & Aulakh, P. S. (2002). Multinationality and Firm Performance: The Moderating Role of R&'D and Marketing Capabilities. Journal of International Business Studies, 33(1), s. 79-97.
  • Michel, A., & Shaked, I. (1986). Multinational Corporations vs. Domestic Corporations: Financial Performance and Characteristics. Journal of International Business Studies, 17(3), s. 89-100.
  • Morck, R., & Yeung, B. (1991). Why Investors Value Multinationality. Journal of Business, 64(2), s. 165-187.
  • Mudambia, R., Mudambia, S. M., Khurshedb, A., & Goergen, M. (2012). Multinationality and the performance of IPOs. Applied Financial Economics, 22, s. 763-776.
  • Mutlu, E. C. (2008). Uluslararası İşletmecilik: Teori ve Uygulama. İstanbul: Beta Basım A.Ş. Olmos, M. F., Castel, A. G., & Bagües, E. G. (2016). Internationalisation and performance in Spanish family SMES: The W-curve. BRQ Business Research Quarterly, 19, s. 122-136.
  • Osorio, D. B., Colino, A., Martin, L. A., & Vicente, J. A. (2016). The international diversification-performance link in Spain: Does firm size really matter? International Business Review, 25, s. 548-558.
  • Pham, T. T. (2015). Does Exporting Spur Firm Productivity? Evidence from Vietnam. Journal o f Southeast Asian Economies, 32(1), s. 84-105.
  • Qian, G. (2002). Multinationality, product diversification, and profitability of emerging US small- and medium-sized enterprises. Journal of Business Venturing, 17, s. 611-633.
  • Ramaswamy, K. (1995). Multinationality and Performance: An Emprical Exemination of the Moderating Effect of Configuration. Academy of Management Procedings, 1993(1), s. 142-146.
  • Rask, M., Strandskov, J., & Hakonsson, D. D. (2008). Theoretical Perspectives on the Internationalization of Firms. Journal Of Teaching In International Business, 19(4), 320-345.
  • Sharma, C., & Mishra, R. K. (2015). International trade and performance of firms: Unraveling export, import and productivity puzzle. The Quarterly Review of Economics and Finance, 57, s. 61-74.
  • Shin, J., Mendoza, X., Hawkins, M. A., & Choi, C. (2017). The relationship between multinationality and performance: Knowledge-intensive vs. capital-intensive service micro-multinational enterprises. International Business Review, 26, s. 867-880.
  • Siddharthan, N. S., & Lall, S. (1982). The Recent Growth of the Largest Us Multinationals. 44(1), s. 1-13.
  • Singla, C., & George, R. (2013). Internationalization and performance: A contextual analysis of Indian firms. Journal of Business Research, 66, s. 2500-2506.
  • Tallman, S., & Li, J. (1996). Effects of international diversity and product diversity on the performance of multinational firms. Academy of Management Journal, 39(1), s. 179-196.
  • Verbeke, A., & Brugman, P. (2009). Triple-testing the quality of multinationality–performance research: An internalization theory perspective. International Business Review, 18, s. 265-275.
  • Vernon, R. (1966). International Investment and International Trade in the Product Cycle. The Quarterly Journal of Economics, 2, 190-207.
  • Xiao, S. S., Jeong, I., Moon, J. J., Chung, C. C., & Chung, J. (2013). Internationalization and Performance of Firms in China: Moderating Effects of Governance Structure and the Degree of Centralized Control. Journal of International Management, 19, s. 118-137.

A Research on the Importance of Internationalization for Businesses and Its Effect on Financial Performance

Yıl 2020, Cilt: 4 Sayı: 3, 789 - 805, 30.09.2020

Deniz Özbay Fulya Taşel

https://doi.org/10.29023/alanyaakademik.694843
Cited By: 1

Öz

With the acceleration of globalization in recent years, it is seen that there are many studies and researches about internationalization. An important part of these studies deals with the factors that drives businesses to internationalization or in other words, the benefits of internationalization strategies to businesses. Therefore, the structure of the relationship between financial performance and internationalization, which is an inevitable factor for the sustainability of enterprises, is also a subject of intensive research. The aim of this study is to research analyse the impact of internationalization on financial performance and to discuss the findings through meta-analysis.

Anahtar Kelimeler

Internationalization Financial Performance International Enterprises Multinationality

Kaynakça

  • Assaf, A. G., Josiassen, A., Ratchford, B. T., & Barros, C. P. (2012). Internationalization and Performance of Retail Firms: A Bayesian Dynamic Model. Journal of Retailing, 88(2), s. 191-205.
  • Barcellos, E. P., Cyrino, Á. B., Júnior, M. d., & Fleury, M. T. (2010). Does Internationalization Pay off? A Study of the Perceived Benefits and Financial Performance of the International Operations of Brazilian Companies. Journal Globalization, Competitiveness and Governability, 4(3), s. 38-61.
  • Bobillo, A. M., Iturriaga, F. L., & Gaite, F. T. (2010). Firm performance and international diversification: The internal and external competitive advantages. International Business Review, 19, s. 607-618.
  • Brewer, H. (1981). Investor From Benefit From Corporate International Diversification. Journal of Financial and Quantitative Analysis, 16(1), s. 113-126.
  • Buckley, P. J., Dunning, J. H., & Pearce, R. D. (1984). An Analysis of Growth and Profitability of the World's Largest Firms 1972 to 1977. Kyklos , 37(1), s. 3-26.
  • Buckley, P. J., Dunning, J. H., & Pearce, R. D. (1978). The Influence of Firm Size, Industry, Nationality, and Degree of Multinationality on the Growth and Profitability of the World's Largest Firms, 1962-1972. Weltwirtschaftliches Archiv, 114(2), s. 243-257.
  • Castellani, D., Montresor, S., Schubert, T., & A. V. (2017). Multinationality, R&D and productivity: Evidence from the top R&D investors worldwide. International Business Review, 26, s. 405-416.
  • Collins, J. M. (1990). A Market Performance Comparison of U.S. Firms Active in Domestic, Developed and Developing Countries. Journal of International Business Studies, 21(2), s. 271-287.
  • Contractor, F. J., Kumar, V., & Kundu, S. K. (2007). Nature of the relationship between international expansion and performance: The case of emerging market firms. Journal of World Business, 42, s. 401-417.
  • Contractor, F. J., Kundu, S. K., & Hsu, C.-C. (2003). A Three-Stage Theory of International Expansion: The Link between Multinationality andPerformance in the Service Sector. Journal of International Business Studies, 34(1), s. 5-18.
  • Çavuşgil, T. S., Knight, G., & Riesenberger, J. R. (2014). International Business: The New Realities (3. b.). England: Pearson.
  • Daniels, J. D., & Bracker, J. (1989). Do Foreign Operations Make a Difference? Management International Review, 29(1), s. 46-56.
  • Dowel, G., Hart, S., & Yeung, B. (2000). Do Corporate Global Environmental Standards Create or Destroy Market Value? Management Science, 46(8), s. 1059-1074.
  • Eckert, S., Dittfeld, M., Muche, T., & Rassler, S. (2010). Does multinationality lead to value enhancement? An empirical examination of publicly listed corporations from Germany. International Business Review, 19, s. 562-574.
  • Errunza, V. R., & Senbet, L. W. (1981). The Effects of International Operations on the Market Value of the Firm: Theory and Evidence. The Journal of Finance, 36(2), s. 401-417.
  • Geringer, J. M., Beamish, P. W., & daCosta, R. C. (1989). Diversification Strategy and Internationalization: Implication for MNE Performance. Strategic Management Journal, 10, s. 109-119.
  • Geringer, J. M., Tallman, S., & Olsen, D. M. (2000). Product and International Diversification among Japanese Multinational Firms. Strategic Management Journal, 21(1), s. 51-80.
  • Gomes, L., & Ramasway, K. (1999). An Empirical Examination of the Relationship Between Multinationality and Performance. Journal of International Business Studies, 30(1), s. 173-187.
  • Göker, İ. E., & Uysal, B. (2017, Ekim ). Uluslararasılaşma Düzeyi İle Finansal Performans İlişkisi: İmalat Sanayii Firmaları Üzerine Bir Araştırma. Muhasebe ve Finansman Dergisi, s. 157-172.
  • Grant, R. M. (1987). Multinationality and Performance among British Manufacturing Companies. Journal of International Business Studies, 18(3), s. 79-89.
  • Grant, R. M., Jammine, A. P., & Thomas, H. (1988). Diversity, Diversification, and Profitability Among British Manufacturing Companies, 1972-84. Academy of Management Journal, 31(4), s. 771-801.
  • Güngördü, A., & Yılmaz, K. G. (2016). Uluslararası Ticaret ve Yatırım Teorisi Olarak Eklektik Paradigma: Geçmişten Günümüze Bir Bakış. Atatürk Üniversitesi Sosyal Bilimler Enstitüsü Dergisi, 1003-1020.
  • Hitt, M. A., Hoskisson, R. E., & Kim, H. (1997). International Diversification: Effects on Innovation and Firm Performance in Product - Diversified Firms. Academy of Management Journal, 40(4), s. 767-798.
  • Ioulianou, S., Trigeorgis, L., & Driouchi, T. (2017). Multinationality and firm value: The role of real options awareness. Journal of Corporate Finance(46), s. 77-96.
  • Johanson, J., & Vahlne, J.-E. (1977). The Internationalization Process of the Firm-A Model of Knowledge Development and Increasing Foreign Market Commitments. Journal of International Business Studies, 8(1), 23-32.
  • Keller, W., & Yeaple, S. R. (2009). Multinational Enterprises, International Trade and Productivity Growth: Firm Level Evidence From The United States. The Review of Economics and Statistics, 91(4), s. 821-831.
  • Kırca, A. H., Fernandezb, W. D., & Kunduc, S. K. (2016). An empirical analysis and extension of internalization theory in emerging markets: The role of in the multinationality-performance relationship. Journal of World Business, 51, s. 628-640.
  • Kotabe, M., Srinivasan, S. S., & Aulakh, P. S. (2002). Multinationality and Firm Performance: The Moderating Role of R&'D and Marketing Capabilities. Journal of International Business Studies, 33(1), s. 79-97.
  • Michel, A., & Shaked, I. (1986). Multinational Corporations vs. Domestic Corporations: Financial Performance and Characteristics. Journal of International Business Studies, 17(3), s. 89-100.
  • Morck, R., & Yeung, B. (1991). Why Investors Value Multinationality. Journal of Business, 64(2), s. 165-187.
  • Mudambia, R., Mudambia, S. M., Khurshedb, A., & Goergen, M. (2012). Multinationality and the performance of IPOs. Applied Financial Economics, 22, s. 763-776.
  • Mutlu, E. C. (2008). Uluslararası İşletmecilik: Teori ve Uygulama. İstanbul: Beta Basım A.Ş. Olmos, M. F., Castel, A. G., & Bagües, E. G. (2016). Internationalisation and performance in Spanish family SMES: The W-curve. BRQ Business Research Quarterly, 19, s. 122-136.
  • Osorio, D. B., Colino, A., Martin, L. A., & Vicente, J. A. (2016). The international diversification-performance link in Spain: Does firm size really matter? International Business Review, 25, s. 548-558.
  • Pham, T. T. (2015). Does Exporting Spur Firm Productivity? Evidence from Vietnam. Journal o f Southeast Asian Economies, 32(1), s. 84-105.
  • Qian, G. (2002). Multinationality, product diversification, and profitability of emerging US small- and medium-sized enterprises. Journal of Business Venturing, 17, s. 611-633.
  • Ramaswamy, K. (1995). Multinationality and Performance: An Emprical Exemination of the Moderating Effect of Configuration. Academy of Management Procedings, 1993(1), s. 142-146.
  • Rask, M., Strandskov, J., & Hakonsson, D. D. (2008). Theoretical Perspectives on the Internationalization of Firms. Journal Of Teaching In International Business, 19(4), 320-345.
  • Sharma, C., & Mishra, R. K. (2015). International trade and performance of firms: Unraveling export, import and productivity puzzle. The Quarterly Review of Economics and Finance, 57, s. 61-74.
  • Shin, J., Mendoza, X., Hawkins, M. A., & Choi, C. (2017). The relationship between multinationality and performance: Knowledge-intensive vs. capital-intensive service micro-multinational enterprises. International Business Review, 26, s. 867-880.
  • Siddharthan, N. S., & Lall, S. (1982). The Recent Growth of the Largest Us Multinationals. 44(1), s. 1-13.
  • Singla, C., & George, R. (2013). Internationalization and performance: A contextual analysis of Indian firms. Journal of Business Research, 66, s. 2500-2506.
  • Tallman, S., & Li, J. (1996). Effects of international diversity and product diversity on the performance of multinational firms. Academy of Management Journal, 39(1), s. 179-196.
  • Verbeke, A., & Brugman, P. (2009). Triple-testing the quality of multinationality–performance research: An internalization theory perspective. International Business Review, 18, s. 265-275.
  • Vernon, R. (1966). International Investment and International Trade in the Product Cycle. The Quarterly Journal of Economics, 2, 190-207.
  • Xiao, S. S., Jeong, I., Moon, J. J., Chung, C. C., & Chung, J. (2013). Internationalization and Performance of Firms in China: Moderating Effects of Governance Structure and the Degree of Centralized Control. Journal of International Management, 19, s. 118-137.
Toplam 45 adet kaynakça vardır.

Ayrıntılar

Birincil Dil Türkçe
Konular Ekonomi
Bölüm Makaleler
Yazarlar

Deniz Özbay 0000-0003-4643-7577

Fulya Taşel 0000-0001-6959-5776

Yayımlanma Tarihi 30 Eylül 2020
Kabul Tarihi 11 Eylül 2020
Yayımlandığı Sayı Yıl 2020 Cilt: 4 Sayı: 3

Kaynak Göster

APA Özbay, D., & Taşel, F. (2020). İşletmeler İçin Uluslararasılaşmanın Önemi ve Finansal Performansa Olan Etkisine Yönelik Bir Araştırma. Alanya Akademik Bakış, 4(3), 789-805. https://doi.org/10.29023/alanyaakademik.694843

Cited By

AR-GE ve İhracat Yoğunluğunun Finansal Performansla İlişkisi: Türkiye’nin 500 Büyük Sanayi Kuruluşu Örneği
Ekonomi ve Finansal Araştırmalar Dergisi
https://doi.org/10.56668/jefr.1312495