Gelişmekte Olan Piyasalar Kökenli Çok Uluslu İşletmelerin Uluslararasılaşma Stratejileri: Yılport Holding’in Yabancı Ülkelerdeki Liman Kentlerine Yapmış Olduğu Yatırımlar Örneği

Yıl 2022, Cilt: 15 Sayı: 1, 358 - 374, 30.03.2022

Murat Atalay , Duygu Aydın Ünal , İsmet Balık , Ahmet Fidan

https://doi.org/10.35674/kent.1051963

Öz

Çok uluslu işletmelerin uluslararasılaşma stratejileri literatürü geleneksel olarak gelişmiş piyasalar kökenli çok uluslu işletmelerin faaliyet ve stratejilerini inceleyerek küreselleşme süreçlerinin de çarpan etkisiyle artan hızla daha da gelişmekte olan bir alandır. Fakat son yıllarda gelişmekte olan piyasalar kökenli çok uluslu işletmelerin, diğer ülkelere yapmış oldukları doğrudan yabancı yatırımların artmasıyla birlikte bu alan dikkat çekmeye başlamıştır. Bu çalışmada gelişmekte olan piyasalar kökenli çok uluslu işletmelerin, uluslararası işletmecilik alanındaki ana akım kuramlara yapabilecekleri katkıları anlamak bu piyasalardan diğer ülkelere doğrudan yabancı yatırımlar gerçekleştiren işletmelerin, gelişmiş piyasalar kökenli çok uluslu işletmelerin uluslararasılaşma stratejilerinden ayrıldıkları noktalara odaklanmak amaçlanmaktadır. Bu kapsamda gelişmekte olan piyasa statüsü taşıyan Türkiye’de konteyner terminal liman işletmeciliği alanında faaliyet gösteren ve son yıllarda gerek gelişmiş, gerek gelişmekte olan piyasalara yapmış oldukları doğrudan yabancı yatırımlarla dikkat çeken, ayrıca faaliyet göstermiş olduğu sektörde çok kısa bir süre içerisinde küresel ölçekte en büyük 11. firma olmayı başaran “Yılport Holding” bir vaka çalışması olarak incelenmiştir. Gelişmekte olan piyasa kökenli çok uluslu işletme olan Yılport Holding’in geleneksel uluslararasılaşma teorileriyle çelişerek, çok kısa bir süre içerisinde satınalmalar yoluyla hızlıca büyümesi, bunun yanında sahiplik avantajı açısından markalaşma, pazara giriş cesareti gibi konularda kendine benzer işletmelerden beklenmeyecek şekilde avantaj elde etmesi olgusu gelişmekte olan piyasalar kökenli çok uluslu işletmelerin bu piyasalarda doğmuş olmalarından kaynaklanan çeşitli dezavantajlarını bertaraf ederek, gelişmiş ülkeler kökenli çok uluslu işletmelere hızlı bir şekilde yetişme ve onları geçme çabası olarak açıklanabilir.

Anahtar Kelimeler

Gelişmekte Olan Piyasalar Orijinli Çok Uluslu İşletmeler, Uluslararasılaşma Stratejisi, Vaka İncelemesi, Yılport Holding

Internationalization Strategies of Emerging-Market Multinational Enterprises: The Case of Investments Made by Yılport Holding in Port Cities in Foreign Countries

Öz

The literature on internationalization strategies of multinational enterprises traditionally examines the activities and strategies of multinational enterprises originating from developed markets; besides, it is an area that is developing more rapidly with the multiplier effect of globalization processes. However, in recent years, this field has started to attract attention with the increase in foreign direct investments made by multinational enterprises originating from emerging markets to other countries. In this study, it is aimed to understand the contributions that multinational enterprises originating from emerging markets can make to mainstream theories in the field of international business, and to focus on the differences between emerging-market multinational enterprises and developed market multinational enterprises in terms of internationalization strategies. In this context, Yılport Holding, which is a container terminal operator in Turkey, and recently attracted attention with its foreign direct investments in both developed and emerging markets, by being the 11th largest company on a global scale in a very short time, has been examined as a case study. The fact that Yılport Holding, a multinational company originating from the emerging market, has grown rapidly through acquisitions in a very short time, as well as gaining an unexpected advantage in terms of ownership advantage, branding and courage to enter the market, are all in contradiction with traditional internationalization theories. These can be explained as the efforts of multinational enterprises originating from emerging markets to quickly catch up with and surpassing multinational enterprises originating from developed countries by eliminating various disadvantages arising from these markets.

Anahtar Kelimeler

Emerging Market Multinational Enterprises, Internationalization Strategy, Case Study, Yılport Holding

Kaynakça

• Beausang, F. (2003). Third world multinationals: Engine of Competitiveness or New Form of Dependency? Springer, New York.
• Bevan, A., Estrin, S., & Meyer, K. (2004). Foreign Investment Location and Institutional Development in Transition Economies. International Business Review, 13(1), 43-64.
• Brouthers, L. E., Gao, Y., & McNicol, J. P. (2008). Corruption and Market Attractiveness Influences on Different Types of FDI. Strategic Management Journal, 29(6), 673-680.
• Buckley, P. J., Clegg, L. J., Cross, A. R., Liu, X., Voss, H. & Zheng, P. (2007). The Determinants of Chinese Outward Foreign Direct Investment. Journal of International Business Studies, 38(4): 499-518.
• Canpolat, R. (2016). “Yılport Holding Yönetim Kurulu Başkanı Yüksel Yıldırım, Deniz Haber Ajansı'na konuştu” https://www.denizhaber.net/yilport-holding-yonetim-kurulu-baskani-yuksel-yildirim-deniz-haber-ajansina-konu-haber-70340.htm, (Access: 04.10.2020).
• Cantwell, J., & Barnard, H. (2008). Do firms from emerging markets have to invest abroad? Outward FDI and the competitiveness of firms. In The rise of transnational corporations from emerging markets: Threat or opportunity, Sauvant, K. P. 55-85.
• Child, J., & Rodrigues, S. B. (2005). The Internationalization of Chinese Firms: A Case for Theoretical Extension? Management and Organization Review, 1(3), 381-410.
• Coase, R.H. (1937), The Nature of the Firm, Economica, 1(November), 386–405.
• Cuervo‐Cazurra, A. (2012). Extending Theory by Analyzing Developing Country Multinational Companies: Solving The Goldilocks Debate. Global Strategy Journal, 2(3), 153-167.
• Cuervo-Cazurra, A., & Genc, M. (2008). Transforming Disadvantages into Advantages: Developing-country MNEs In The Least Developed Countries. Journal of International Business Studies, 39(6), 957-979.
• Dooms, M., van der Lugt, L., & De Langen, P. W. (2013). International Strategies of Port Authorities: The Case of the Port of Rotterdam Authority. Research in Transportation Business & Management, 8, 148-157.
• Dooms, M., Van Der Lugt, L., Parola, F., Satta, G., & Song, D. W. (2019). The Internationalization of Port Managing Bodies in Concept and Practice. Maritime Policy & Management, 46(5), 585-612.
• Dunning, John H. (1988). The theory of International Production. The International Trade Journal 3(1), 21-66.
• Dunning, J. H. (2001). The Eclectic (OLI) Paradigm of International Production: Past, Present and Future. International Journal of the Economics of Business, 8(2), 173-190.
• Dunning, J. H., Kim, C. S. & Lin, J. D. (2001). Incorporating trade into the investment development path: A case study of Korea and Taiwan. Oxford development studies, 29(2), 145-154.
• Dunning, J. H., & Lundan, S. M. (2008). Multinational Enterprises and the Global Economy. Edward Elgar Publishing, Glos.
• Eden, L. (2008). The Rise of TNCs From Emerging markets: threat or opportunity?. 333-338. Edited By Sauvant, K. P. In the The Rise of Transnational Corporations from Emerging Markets: Threat Or Opportunity?
• Eisenhardt, K. M. (1989). Building Theories From Case Study Research. Academy of Management Review. 14(4): 532-550.
• Fidan, A. (2003). Tarım, Sanayi ve Bilgi Toplumunda Üretim ve Tüketim İlişkilerinin İşletme ve Yönetimleri Üzerindeki Etkileri. Mevzuat Dergisi, 6, 62.
• García-Lillo, F., Claver, E., Marco-Lajara, B., Seva-Larrosa, P., & Ruiz-Fernández, L. (2021). Mnes from Emerging Markets: A Review of the Current Literature Through “Bibliographic Coupling” And Social Network Analysis. International Journal of Emerging Markets, 16(8), 1912-1942.
• Globerman, S., & Shapiro, D. M. (2008). Outward FDI and the Economic Performance of Emerging Markets. In the The rise of Transnational Corporations From Emerging Markets: Threat or Opportunity, Edited by K. P. Sauvant, 229-271.
• Guillén, M. F. & García-Canal, E. (2009). The American Model of The Multinational Firm And The “New” Multinationals From Emerging Economies. Academy of Management Perspectives, 23(2), 23-35.
• Hennart, J. F. (2012). Emerging Market Multinationals and the Theory Of The Multinational Enterprise. Global Strategy Journal, 2(3), 168-187.
• Hernandez, E. & Guillén, M. F. (2018). What’s Theoretically Novel About Emerging-Market Multinationals?. Journal of International Business Studies. 49(1), 24-33.
• Johanson, J. & Wiedersheim-Paul, F. (1975). The Internationalization of the Firm: Four Swedish Cases. Journal of Management Studies, 12(3), 305-322.
• Johanson, J. & Vahlne, J. E. (1977). The Internationalization Process of The Firm-A Model of Knowledge Development and Increasing Foreign Market Commitments. Journal of International Business Studies, 8(1), 23-32.
• Johanson, J. & Vahlne, J.-E. (1990). The Mechanism of Internationalisation. International Marketing Review, 7(4), 11-24.
• Li, H., Yi, X. & Cui, G. (2017). Emerging Market Firms' Internationalization: How Do Firms' Inward Activities Affect Their Outward Activities?. Strategic Management Journal, 38(13), 2704-2725.
• Lu, J., Ma, X., Taksa, L., & Wang, Y. (2017). From LLL to IOL 3: Moving Dragon Multinationals Research Forward. Asia Pasific Journal of Management, 34: 757-768.
• Luo, Y., & Tung, R. L. (2018). A General Theory of Springboard MNEs. Journal of International Business Studies, 49(2), 129-152.
• Lundan, S.M. & Jones, G. (2001), The “Commonwealth Effect” and the Process of Internationalization, The World Economy, 24(1), 99–118.
• Madhok, A. & Keyhani, M. (2012). Acquisitions as Entrepreneurship: Asymmetries, Opportunities, and The Internationalization of Multinationals From Emerging Economies. Global Strategy Journal. 2(1): 26-40.
• Martin, S., Martin, J., & Lai, P. (2019). International Container Design Regulations and ISO Standards: Are They Fit for Purpose?. Maritime Policy & Management, 46(2), 217-236.
• Mathews, J. A. (2002). Dragon Multinational: A New Model for Global Growth. Oxford University Press, New York.
• Mathews, J.A. (2006). Dragon Multinationals: New Players in 21st Century Globalization. Asia Pacific Journal of Management, 23(1), 5-27.
• Ng, A. K., Wong, K., Shou, E. C. & Jiang, C. (2019). Geography and Institutional Change: Insights From A Container Terminal Operator. Maritime Economics & Logistics, 21(3), 334-352.
• Penrose, E.T. (1959), The Theory of the Growth of the Firm, Oxford: Basil Blackwell.
• Ramamurti, R. (2004). Developing Countries and Mnes: Extending and Enriching The Research Agenda. Journal of International Business Studies. 35(4), 277-283.
• Ramamurti, R. (2012). What is Really Different About Emerging Market Multinationals?. Global Strategy Journal. 2(1), 41-47.
• Rodriguez-Pose, A. & Zhang, M. (2020). The Cost of Weak Institutions for Innovation in China. Technological Forecasting and Social Change, 153, 1-16.
• Rowley, J. (2002). Using Case Studies In Research. Management Research News, 25(1): 16-27.
• Storybox, (2021). Liman İşletmeciliğinde Nasıl Marka Oldu?, https://www.youtube.com/watch?v=084SNdhObd0, (Access: 04.10.2021).
• Sullivan, D., & Bauerschmidt, A. (1990). Incremental Internationalization: A Test of Johanson and Vahlne's Thesis. Management International Review, 30(1), 19-30.
• UNCTAD. (2008). World Investment Report. https://unctad.org/system/files/official-document/wir2008_en.pdf, (Access: 04.09.2020).
• UNCTAD. (2019). World Investment Report. https://unctad.org/webflyer/world-investment-report-2019, (Access: 04.09.2020).
• Walters, D., Wadsworth, E., & Bhattacharya, S. (2020). What About The Workers?—Experiences of Arrangements for Safety and Health in Global Container Terminals. Safety Science, 121, 474-484.
• Williamson, P. J., Ramamurti, R., Fleury, A. & Fleury, M. T. L.. (2013). The Competitive Advantage of Emerging Market Multinationals. Cambridge University Press, New York.
• Yıldırım Şirketler Grubu (2018). Faaliyet Raporu. http://www.yildirimholding.com/Sunumlar/2018TR/TR2018.pdf, (Access: 23.10.2021).
• Yıldırım Şirketler Grubu (2019). Faaliyet Raporu. http://www.yildirimholding.com/Sunumlar/2019TR/TR2019.pdf, (Access: 19.05.2021).
• Yılport Holding (2018). Yılport Holding Connection Dergisi, https://www.yilport.com/en/images/pdf/YPH-Connection-Newsletter-Q3-2018.pdf, (Access: 02.09.2021).
• Yılport Holding (2020a). Yılport Holding Connection Dergisi, https://www.yilport.com/en/images/pdf/Connection-Q1-2020-web.pdf, (Access: 04.12.2020).
• Yılport Holding (2020b). Yılport Holding Connection Dergisi, https://www.yilport.com/en/images/pdf/YPH-Connection-Newsletter-Q2-2020.pdf, (Access: 04.10.2021).
• Yılport Holding (2021a). Yılport Holding Connection Dergisi, https://www.yilport.com/en/images/pdf/YPH-Connection-Magazine-Q1-2021.pdf, (Access: 08.10.2021).
• Yılport Holding (2021b). Yılport Holding Connection Dergisi, https://www.yilport.com/en/images/pdf/YPH-Connection-Magazine-Q2-2021.pdf, (Access: 29.10.2021).
• Yeung, H. W. C. (2000). The Globalization of Business Firms From Emerging Economies. Cheltenham, UK: Edward Elgar
• Yin, R. K. (1981). The Case Study Crisis: Some Answers. Administrative Science Quarterly, 26(1), 58-65.
• Yücel, A. (2021). Yılport Küresel Limancılıkta İlk 10’a Koşuyor, https://www.dunya.com/sektorler/lojistik/yilport-kuresel-limancilikta-ilk-10a-kosuyor-haberi-629878, (Access: 23.10.2021)