期刊名称：Ömer Halisdemir Üniversitesi İktisadi ve İdari Bilimler Fakültesi Dergisi
电子版ISSN：2564-6931
出版年度：2018
卷号：11
期号：2
DOI：10.25287/ohuiibf.403257
语种：English
出版社：Ömer Halisdemir Üniversitesi
摘要：In this paper,we investigate the link between age and firm performance by analysing the family-owned companies in a developing country,Turkey. We adopt ordinary least squares estimation to the period between 2008 and 2016 using 38 listed and non-financial family-owned companies. We use profitability as a proxy for firm performance. Profitability is defined as earnings before interest and tax divided by total assets. As a result,we capture the convex relationship between age and profitability of family-owned companies which suggests that younger firms have higher profits until they reach a certain age. When they pass that threshold age older firms perform better than younger firms. This result is robust when we control for heteroscedasticity and include other control variables such as liquidity,debt ratio and asset turnover.
其他摘要：Bu araştırmada,gelişmekte olan bir ülke olarak sınıflandırlan Türkiye’deki aile şirketleri analiz edilerek firmanın yaşı ve firma performansı arasındaki bağlantı araştırılmıştır. 2008 ve 2016 yılları arasında,borsada işlem gören ve finans sektöründe olmay
