The effect of mergers and acquisitions on the performance of companies
Küçük Resim Yok
Tarih
2022
Yazarlar
Dergi Başlığı
Dergi ISSN
Cilt Başlığı
Yayıncı
İstanbul Ticaret Üniversitesi
Erişim Hakkı
info:eu-repo/semantics/openAccess
Özet
Son yıllarda küreselleşme ve gelişen teknoloji sonucunda birleşme ve satın alma işlemlerinin önemi ulusal ve uluslararası alanda artmıştır. Şirketler, sahip oldukları gücü arttırarak, rekabetçi bir ortamda sinerji oluşturabilmek ve faaliyetlerine daha güçlü bir şekilde devam edebilmeleri için, büyüme stratejisi olarak birleşme ve devralma işlemlerini tercih etmektedir. Bu çalışmada, işletmeleri birleşme ve devralmaya yönelten sebepler, başarıyı sağlayan ve başarısızlığa sebep olan unsurlar incelenmiş ve bu süreçte şirket performanslarının nasıl arttırılabileceği konusuna değinilmiştir. Vaka çalışması olarak, Akis Gayrimenkul Yatırım Ortaklığı ve Saf Gayrimenkul Yatırım Ortaklığının 2016 yılında gerçekleştirdiği devralma şeklinde birleşme performansı, birleşme öncesi ve sonrası finansal tablo bilgileri kullanılarak, şirketlerin birleşme ve devralmalardan önceki ve sonraki karlılık, verimlilik ve finansal yapısı ile ilgili bilgileri karşılaştırmayı sağlayan oran analizi yöntemi ile ölçülmeye çalışılmış ve şirketler arasındaki güçlü iletişimin olması ve kültürel farklılıkların olmaması devralma sürecini kolaylaştırarak şirketlerin performansını olumlu yönde etkilediği sonucuna ulaşılmıştır. Anahtar Kelimeler: Performans, Birleşme ve Satın Almalar, Başarı, Başarısızlık, Oran Analizi
In recent years, the importance of mergers and acquisitions transactions has increased nationally and internationally as a result of globalization and developing technology. As a growth strategy, companies prefer mergers and acquisitions transactions because in this way; they have opportunities to combine their powers mutually and keep on taking place in a competitive area. This study aims to investigate which reasons encourage businesses for mergers and acquisitions, failure and success elements, and the process of mergers and acquisitions. In this study, the method used for the case study is Ratio Analysis which provides to compare the information concerning profitability, efficiency, and the financial structure of the companies before and after mergers and acquisitions. Thus, as a result of the financial status acquired after the merger, it can be revealed which factors can affect the performance of the companies. In this research, the merger activity between the companies Akis Real Estate Investment Trust and Saf Real Estate Investment Trust which are the pioneer company in their sector analyzed using financial tables with ratio analysis. With this analysis method, liquidity rate analysis, leverage ratio analysis, activity rate analysis, and profitability ratio analysis were determined and the performance of the company after merger deals was indicated. Lack of cultural differences between the companies eased the process of combination and affected the performance of the companies positively. Key Words: Performance, Mergers and Acquisitions, Success, Failure, Ratio Analysis
In recent years, the importance of mergers and acquisitions transactions has increased nationally and internationally as a result of globalization and developing technology. As a growth strategy, companies prefer mergers and acquisitions transactions because in this way; they have opportunities to combine their powers mutually and keep on taking place in a competitive area. This study aims to investigate which reasons encourage businesses for mergers and acquisitions, failure and success elements, and the process of mergers and acquisitions. In this study, the method used for the case study is Ratio Analysis which provides to compare the information concerning profitability, efficiency, and the financial structure of the companies before and after mergers and acquisitions. Thus, as a result of the financial status acquired after the merger, it can be revealed which factors can affect the performance of the companies. In this research, the merger activity between the companies Akis Real Estate Investment Trust and Saf Real Estate Investment Trust which are the pioneer company in their sector analyzed using financial tables with ratio analysis. With this analysis method, liquidity rate analysis, leverage ratio analysis, activity rate analysis, and profitability ratio analysis were determined and the performance of the company after merger deals was indicated. Lack of cultural differences between the companies eased the process of combination and affected the performance of the companies positively. Key Words: Performance, Mergers and Acquisitions, Success, Failure, Ratio Analysis
Açıklama
Dış Ticaret Enstitüsü, Uluslararası Ticaret Ana Bilim Dalı, Uluslararası Ticaret Bilim Dalı
Anahtar Kelimeler
İşletme, Business Administration
