An investigation into why Turkish business groups resist the adoption of M-form in post- liberalization

The aim of the present study is to investigate why Turkish business groups resist the adoption of the M-form despite Chandler’s well-established premise on the evolution of multi-activity firms toward the M-form in post-liberalization. This paper is based on the economic and institutional theory. An analysis of the findings reveals that the holding companies (H-form) resist the M-form despite the strategystructure misfit. On the other hand,...