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

Demirbag, M and McGuinness, M and Akin, A and Bayyurt, N and Basti, E (2016) 'The professional service firm (PSF) in a globalised economy: A study of the efficiency of securities firms in an emerging market.' International Business Review, 25 (5). 1089 - 1102. ISSN 0969-5931

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Abstract

© 2016 Elsevier Ltd 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.

Item Type: Article
Subjects: H Social Sciences > HD Industries. Land use. Labor > HD61 Risk Management
H Social Sciences > HF Commerce
Divisions: Faculty of Social Sciences > Essex Business School
Faculty of Social Sciences > Essex Business School > Management Science and Entrepreneurship Group
Depositing User: Mehmet Demirbag
Date Deposited: 06 Feb 2016 20:22
Last Modified: 22 Jan 2019 20:15
URI: http://repository.essex.ac.uk/id/eprint/16035

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