This paper reports on the ownership and control structures of publicly listed firms in Turkey using data from 2001. While holding companies and non-financial firms are the most frequent owners at the direct level, families ultimately own more than 80 percent of all publicly listed firms in...

Using average performance measures – as the literature does - to investigate the relation between ownership structure and performance suffers from severe drawbacks. We propose a marginal Tobin's q and argue for its superiority