OWNERSHIP LEVEL OF CROSS-BORDER MERGER AND ACQUISITIONS IN TURKEY: EFFECTS OF INDUSTRY, COUNTRY OF ORIGIN AND EXPERIENCE

Abstract

In this study, the effects of industry, country of origin and international investment experience on ownership level of cross-border merger and acquisitions in emerging markets are tried to be investigated. Related variables are joined to research model by linked with resource-based view, institutional theory and organizational learning perspectives. According to findings of the study, ownership level of cross-border merger and acquisitions in service industry would be lower. However, when the home country is from advanced economies, ownership level in service industry acquisitions would increase. Relatedly, the acquisition experience of multinational corporations in Turkey would affect ownership level negatively in service industry. As a conclusion, our study has got supportive findings in accord with the resource-based view but disconfirming results with the institutional theory and organizational learning perspective.