FİRMA PERFORMANSI VE SAHİPLİK YAPISI İLİŞKİSİ: BORSA İSTANBUL ÖRNEĞİ

This study investigates the impacts of different ownership structure types in 255 non-financial firms listed in Borsa Istanbul on their firm performance measured by return on asset (ROA) over the years from 2009 to 2018. The ownership structures of these traded firms are categorized as block, institutional, domestic and foreign investors. Furthermore, the domestic and foreign investor types are also divided as individual and institutional investors in order to examine ownership impacts in more details. The empirical findings suggest that the institutional ownership improves the financial performance in these firms, yet this positive impact results from the foreign institutional ownership not from the domestic institutional investors. The foreign individual investors also have positive significant effect on the performance, whereas an increase in the proportion of domestic individual investors impair the financial performance. On the other hand, there exists no significant relationship between block ownership representing the ownership concentration and the firm performance.