THE RELATIONSHIP BETWEEN INSTITUTIONAL INVESTORS OWNERSHIP AND BRAND VALUE: AN APPLICATION

Abstract

In recent years, due to factors such as internationalization of competition, diversification of customer needs, increasing financial and commercial integration, and strengthening of information and communication networks, the fund needs of enterprises have started to increase. In order to meet these fund needs, companies started to focus on investors. One of the institutions that providing the flow of funds to the companies is institutional investors. Institutional investors (Pension Funds, Insurance Companies, Mutual Funds, Investment Trusts, Charitable Funds, Social Security Institutions, Portfolio Management Companies) are transferring the funds to capital market instruments they collect from individual investors. From this point of view, it can be said that institutional investors have great importance for companies. In this study, the relationship between institutional investors ownership, and brand value is investigated by using dynamic panel data method (System GMM) for 2012-2017 period, especially in the manufacturing and technology firms traded in BIST. The analysis results show that the brand value increase as the institutional investor ownership increases