ABSTRACT
Introduction The accelerated internationalization of Turkish multinational companies (MNCs) over the last few years has been phenomenal. Turkish MNCs’ foreign direct investment (FDI) outflows increased over threefold from $840 million in 2000 to $3.1 billion in 2013 (UNCTADSTAT 2014). During the same period, the volume of Turkish MNCs’ outbound acquisitions increased over 17 times from $108 million to $1.8 billion (Thomson Reuters Mergers and Acquisitions Database 2016; Deloitte 2014). Over the ten-year period from 2004-13, their greenfield investments increased over threefold from $2.2 billion to $6.9 billion (fDi Intelligence Database 2016).2 Clearly, Turkish MNCs are increasingly integrating with the global economy.
