Mergers and acquisitions: A research on micro, macro and strategic evaluation of mergers and acquisitions carried out by foreign investors between the years of 1995- 2011 in Turkey

As a result of the countries carrying their political relationships to the economic and commercial level, the commerce barriers which were hard to get over in 1800's became achievable and even started to disappear. Moreover through globalization notions such as developing technology transportation and communication becoming easy, capital activity speeded up around the world. After these changes, rivalry from where the firms are located increased. Firms started to search for different strategies to realize their existence goals and continue to exist. Mergers and acquisitions became one of the most preferred strategies by top management of the firms to reach their goals. In this study the reason is to present the relationship between the analysis of Foreign Direct Investments which are realized on the basis of year, sector and country through the M&As on Turkey and sectoral growth rates between the years 1995 and 2011. The study consists of three dimensions. In the first one, related literature has been researched, studies made on mergers and acquisitions in the world and Turkey have been analyzed. In the second dimension, the internal and external motives affecting the strategic decisions of the firms on M&As have been analyzed on the theoretical level and the factors that have effects on Foreign Direct Investments in Turkey and M&As have been studied. In the third dimension periodic, local and sectoral features have been analyzed within the context of motives which affects the decisions on M&A that took place in Turkey between the years 1995 and 2011 and its relationship between the sectoral growth has been presented. Key Words : Mergers & Acquisition, merger waves, merger motives, industrial growth, foreign direct investment