Impact of venture capital acquisitions on firm value: A study on acqusitions of technology companies in developing countries in Europe and in Turkey

This study emphasizes that mergers and acquisitions are strategic decisions that drive corporate growth, market consolidation and shareholder value. In particular, the acquisition of venture companies stands out as an important dynamic aimed at acquiring technology and ensuring innovation. The study examines the impact of acquisition announcements of technology startups operating in developing countries on the share prices of the acquiring companies. In the research, data obtained using the Thomson Reuters-Eikon database was analyzed using the standard event study method. The results show that technology startup acquisition announcements generally encounter a negative reaction in the market. In the introduction part of the study, the basic concepts related to venture capital, entrepreneurship and venture capital investments are explained, and in the second part, the history and global view of venture capital around the world are discussed. The third section examines the venture capital framework in Turkey, and the fourth section summarizes the literature and includes the empirical study and its results. Keywords Venture capital, acquisition and merger, technology startups, share prices, market reaction