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date: 19 May 2019

Abstract and Keywords

This article aims to examine the evolution of the Turkish large-enterprise economy focusing on the family-owned diversified business groups. Turkey presents a still-unexplored yet fascinating national instance of the primacy of business groups, because that nation exemplifies an environment that differs both from East Asia and from Latin America. By concentrating on the different geographical environment of Turkey, the present research provides a fresh look at the development of business groups. In doing so, this study, utilizing the data in various primary and secondary sources, first comes up with a comprehensive list of the largest economic players in Turkey such as business groups, independent companies, state-owned enterprises, and multinational subsidiaries. That list reveals that business groups remain the core element of the large-enterprise economy of Turkey. This article then focuses on the overall growth strategies of Turkish business groups. These discussions lead to structure and governance concerns.

Keywords: Turkish business groups, independent companies, state-owned enterprises, multinational subsidiaries, large-enterprise economy

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