Besim, Seniha; Adaoglu, Cahit - In: Journal of business economics and management 19 (2018) 4, pp. 648-672
CEMs to measure the divergence between control and ownership rights. Supporting the rent extraction hypothesis, holding …In Eurasia, Turkey has a "crony" capitalist system with majority control and business groups (BGs) in the hands of a … few families. These business groups are often organised around a holding company. We analyse the dividend payouts of …