Abstract:

In this study we will study the regulatory impact of the relationship between the "entrepreneurship degree - financial performance" of family companies, which make up 95% of the in our country. In international literature it is defended that family companies are a structure that supports innovation and change. Similarly, compared to non-family companies, these companies appear to promote entrepreneurship and be in the forefront in terms of rapid decision-making, potential for growth. The entrepreneurship orientation, which is defined as a key component of organizational success, has a positive impact on the company’s financial performance and generates high performance. The contribution to the country’s economy is a remarkable fact that developing the activities of these companies,ining their business continuity is of great importance from the point of view of Turkey. Therefore, the increase in the various policies and programs organized for the purpose of improving the competitiveness and entrepreneurial characteristics of companies in recent periods is closely concerned with these companies. It also supports the importance that Turkey has given to the issue. The aim of this study is to test the entrepreneurial orientation empirically, taking into account the partnership structure of companies operating in the manufacturing sector, and to study the impact on the company’s performance. The sample covers 94 companies quoted in the manufacturing sector in 2018 and uses the Moderators Multiple Regression method to test the data collected from annual financial reports. The results of the study can be said that companies with high entrepreneurial orientation avoid taking risks or make more cautious decisions.                                Keywords: Family Company, Financial Performance, BIST, Moderators Relationship, Entrepreneurship Orientation JEL Classification: M1, M4, M41, L26

Keywords:

Abstract:

This study eximines the moderating effect of family owned companies, which constitutes 95% of all Turkish enterprises, and its corresponding effect on the relationship between entrepreneurial orientation and financial performance. Family owned companies not only contain an organizational structure that supports innovation and change, but they are also known to encourage entrepreneurship. Moreover, these firms stand out in terms of their rapid decision making and growth potential. The related literature also suggests that entrepreneurial orientation, which is defined as a key component of organizational success, has a positive impact on the company's financial performance. The contribution of family owned companies to the economy is an undeniable fact, thus the improved continuity of their operations is key for maintaining the Turkish success. The rise of various policies and programs aiming to develop companies' competitiveness and entrepreneurial characteristic closely concerns these firms- further highlighting the importance Turkish firms attach towards entrepreneurship. The purpose of this study is to take into account the BIST Manufacturing Sector firms partnership structure and empirically calculate the entrepreneurial orientation, while examining the effect on firm performance. The sample consists of 94 companies listed in the Manufacturing Sector in 2018, and the data collected from annual reports were tested employing use of a moderated multiple regression. The results of the study indicate that firms with high entrepreneurship orientation avoid risk and form more cautious decisions.                                Key Words: Family Owned Company, Financial Performance, BIST, Moderator Relationship, Entrepreneurship Orientation                                JEL Classification: M1, M4, M41, L26