SAHİPLİK YAPISI VE AR-GE HARCAMALARI: BORSA İSTANBUL ÖRNEĞİ

Bu çalışmanın amacı sahiplik yapısının AR-GE harcamaları üzerindeki etkisini incelemektir. Başka bir ifade ile araştırmada; sahiplik yoğunlaşmasının, kurumsal yatırımcı sahipliğinin ve yabancı yatırımcı sahipliğinin AR-GE uygulamaları üzerindeki etkisi tespit edilecektir. Çalışmada 2009-2015 yılları arasında Borsa İstanbul’a kayıtlı 112 imalat sanayi firmasının verileri kullanılmıştır. Yapılan analizler sonucunda yabancı yatırımcıların daha düşük AR-GE harcamalarına sahip olduğu bulunmuştur. Bu durum; yabancı yatırımcılar kendi ana ülkelerindeki ve/veya diğer gelişmiş ekonomilerdeki teknolojik avantajları kullanmaları ile açıklanabilmektedir.

Anahtar Kelimeler:

AR-GE, İnovasyon, Sahiplik Yapısı

OWNERSHIP STRUCTURE AND R&D SPENDING: EVIDENCE FROM BORSA ISTANBUL

This paper examines the effects of ownership structure on firms’ R&D spending. In other words, this paper seeks to examine the effect of ownership concentration, institutional ownership and foreign ownership on the R&D spending practices. It is used a sample of 112 Turkish manufacturing firms listed Borsa Istanbul from 2009-2015. It is found that firms with foreign ownership have lower R&D spending.Foreign investors would utilize technological advantages at their home countries and/or other developed economies

Keywords:

R&D, Innovation, Ownership Structure,

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