The effects of the 2001 economic crisis of Turkey on holding companies diversification strategies: does bank ownership make difference?

Turker Yucel, Polat Alp, Kose Huseyin,

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The objective of the study is to search whether there are any changes in holding companies’ diversification strategies before 2001 and after 2001 in Turkey. In this context, which diversification strategies (related or unrelated) are adopted by the holding companies is tried to be determined. The holding companies included in study divided into two groups one of them is before the economic crisis of 2001 having bank and continue in the same way after 2001 and the rest. On this basis, whether having bank is advantageous in diversification strategies or not is tested. Quantitative research is used for reaching on planned data. The data related with holding companies are obtained by Istanbul Stock Exchange. Holding companies and sectors they performed and the sectors’ relationships are tried to be put forward. The study concludes that 2002 economic crisis enhance the diversification especially for bank owner holding companies due to the fact that the crisis provides opportunities which can be easily used by the holding companies that have strong banks.

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