Although there exists a wide array of literature regarding almost every aspect of globalization at macro level, surprisingly, the micro level of the subject area seems to be a little ignored and consequently, almost nothing is known about the impact of globalization on firm performance/value. In...

We compare the performance of firms affiliated with diversified business groups with the performance of unaffiliated firms in an emerging market, Turkey. Our findings indicate that group affiliation improves firm's accounting performance, but not stock market performance. Furthermore, we find...

We compare the performance of firms affiliated with diversified business groups with the performance of unaffiliated firms in an emerging market, Turkey. Our analysis addresses the question of whether group affiliated firms create internal capital markets or control large cash flows. Our...

This paper deals with the growth literature. In particular, we are fundamentally concerning the recent empirical studies. For this purpose, we mainly base our study on a recent paper called The New Growth Evidence by J. Temple (2000) who gives a very detailed discussion of the empirical issues...