The professional service firm (PSF) in a globalised economy: A study of the efficiency of securities firms in an emerging market

Mehmet Demirbag*, Martina McGuinness, Ahmet Akin, Nizamettin Bayyurt, Eyup Basti

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20 Atıf (Scopus)

Özet

This study explores the efficiency of securities firms in Turkey and offers conceptual and managerial insights utilizing data envelopment analysis. Through a sample of local and foreign owned securities firms in Turkey, we examine the impact of liabilities of foreignness (LOF) and localness (LOL) upon knowledge intensive firm efficiency in an emerging market economy. We have extended this approach through our consideration of liability associated with market globalness (LOMG). Our findings indicate the importance of size for firm efficiency with bank affiliation and foreign ownership also having positive effects on efficiency. Our study makes a contribution conceptually, methodologically and empirically to a growing literature on emerging economies. We also make a valuable addition to the limited empirical work conducted on the securities industry to date. Finally, through our contextualization of Turkish securities firms as professional services firms (PSFs), our research extends the narrow focus on law and accounting which currently dominates the burgeoning research strand on PSFs.

Orijinal dilİngilizce
Sayfa (başlangıç-bitiş)1089-1102
Sayfa sayısı14
DergiInternational Business Review
Hacim25
Basın numarası5
DOI'lar
Yayın durumuYayınlandı - 1 Eki 2016
Harici olarak yayınlandıEvet

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Publisher Copyright:
© 2016 Elsevier Ltd

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