{"id":3486,"date":"2020-04-07T20:23:18","date_gmt":"2020-04-07T20:23:18","guid":{"rendered":"https:\/\/tolunayakay.av.tr\/?p=3486"},"modified":"2021-07-20T05:25:14","modified_gmt":"2021-07-20T05:25:14","slug":"herfindahl-hirschman-endeksi-hhi-index-nedir-nasil-hesaplanir","status":"publish","type":"post","link":"https:\/\/galahukuk.com\/yayinlar\/herfindahl-hirschman-endeksi-hhi-index-nedir-nasil-hesaplanir\/","title":{"rendered":"Herfindahl-Hirschman Endeksi (HHI Index) Nedir? Nas\u0131l Hesaplan\u0131r?"},"content":{"rendered":"\r\n<p class=\"wp-block-paragraph\" style=\"text-align: justify;\">Herfindahl-Hirschman Endeksi <em>(Herfindahl-Hirschman Index &#8211; HHI ), <\/em>rekabet hukukuna ili\u015fkin bir kavram olup \u00fclkemizde ve di\u011fer \u00fclkelerde yer alan Rekabet Kurumlar\u0131 taraf\u0131ndan kullan\u0131lan bir hesaplama arac\u0131d\u0131r. Bu endeks, birle\u015fme ve devralma neticesinde ilgili pazarda olu\u015facak olan yo\u011funla\u015fman\u0131n<em> (concentration) <\/em>hesaplanmas\u0131nda kullan\u0131l\u0131r.<\/p>\r\n\r\n\r\n\r\n<p class=\"wp-block-paragraph\" style=\"text-align: justify;\">Birle\u015fme ve devralmalar\u0131n neticesinde piyasada tekel olu\u015fup olu\u015fmad\u0131\u011f\u0131 HHI sayesinde tespit edilir. Ancak HHI\u2019\u0131n rekabetin olu\u015fup olu\u015fmad\u0131\u011f\u0131 konusunda tek ba\u015f\u0131na bir ge\u00e7erlili\u011fi yoktur. Bu endeks yaln\u0131zca fikir verir. Pazar\u0131 de\u011ferlendiren ve rekabetin engellenmesine ili\u015fkin d\u00fczenleme yapan kurumlar di\u011fer hususlar\u0131 da g\u00f6z \u00f6n\u00fcnde bulundurarak birle\u015fme ve devralmalar\u0131 de\u011ferlendirir.<\/p>\r\n\r\n\r\n\r\n<h3 class=\"wp-block-heading\">Nas\u0131l Hesaplan\u0131r?<\/h3>\r\n<figure class=\"wp-block-image size-large\">\r\n<figcaption><\/figcaption>\r\n<\/figure>\r\n\r\n\r\n\r\n<figure style=\"width: 697px\" class=\"wp-caption alignnone\"><img fetchpriority=\"high\" decoding=\"async\" src=\"https:\/\/cdn.corporatefinanceinstitute.com\/assets\/HHI.jpg\" alt=\"\" width=\"697\" height=\"205\" \/><figcaption class=\"wp-caption-text\">HHI hesaplamas\u0131nda kullan\u0131lan form\u00fcl<\/figcaption><\/figure>\r\n<p class=\"wp-block-paragraph\">HHI, ilgili te\u015febb\u00fcslerin pazardaki paylar\u0131n\u0131n (pazar a\u011f\u0131rl\u0131\u011f\u0131n\u0131n % cinsinden ifadesi) kareleri al\u0131narak hesaplan\u0131r. Hesaplaman\u0131n ard\u0131ndan elde edilen kareler toplan\u0131r. Ula\u015f\u0131lan sonu\u00e7 ilgili pazardaki HHI de\u011ferini verir.<\/p>\r\n\r\n\r\n\r\n<p class=\"wp-block-paragraph\">Bu de\u011fer 1 ve 10.000 aras\u0131nda de\u011fi\u015fiklik g\u00f6sterecektir. \u0130lgili pazarda yaln\u0131zca tek bir te\u015febb\u00fcs varsa, karesi al\u0131nd\u0131\u011f\u0131nda elde edilecek sonu\u00e7 10.000 oldu\u011fu i\u00e7in ula\u015f\u0131lan sonu\u00e7 en konsantre olacakt\u0131r. Bu de\u011ferin teorik oldu\u011funu s\u00f6yleyebiliriz.<\/p>\r\n\r\n\r\n\r\n<p class=\"wp-block-paragraph\">Yo\u011funla\u015fma yani birle\u015fme ve devralma i\u015flemlerinden sonra ilgili pazar i\u00e7in bir HHI hesaplamas\u0131 daha yap\u0131l\u0131r. Birle\u015fme ve devralmadan \u00f6nceki HHI de\u011feri ve Birle\u015fme ve Devralmadan sonraki HHI de\u011feri aras\u0131ndaki fark (delta), pazardaki de\u011fi\u015fim hakk\u0131nda fikir sahibi olmam\u0131z\u0131 sa\u011flayacakt\u0131r.<\/p>\r\n\r\n\r\n\r\n<p class=\"wp-block-paragraph\">De\u011fi\u015fimin:<\/p>\r\n\r\n\r\n\r\n<ul class=\"wp-block-list\">\r\n<li>1000&#8217;den k\u00fc\u00e7\u00fck olmas\u0131 durumunda yo\u011funla\u015fman\u0131n az ya\u015fand\u0131\u011f\u0131 ve rekabetin engellenmesine ili\u015fkin bir problem olmad\u0131\u011f\u0131,<\/li>\r\n<li>1000 ve 2000 aras\u0131nda olmas\u0131 durumunda yo\u011funla\u015fman\u0131n orta \u00f6l\u00e7ekli olabilece\u011fi ve baz\u0131 ek kriterlere bak\u0131lmas\u0131 gerekti\u011fi,<\/li>\r\n<li>2000&#8217;den fazla olmas\u0131 durumunda yo\u011funla\u015fman\u0131n maksimize oldu\u011fu ve rekabetin engellenebilmesi probleminin bulundu\u011fu,<\/li>\r\n<\/ul>\r\n\r\n\r\n\r\n<p class=\"wp-block-paragraph\">kabul edilecektir. Bir kez daha bu de\u011ferin tek ba\u015f\u0131na salt karar mekanizmas\u0131 olmad\u0131\u011f\u0131n\u0131, genellikle fikir al\u0131nmas\u0131 i\u00e7in kullan\u0131laca\u011f\u0131n\u0131 hat\u0131rlatmay\u0131 yerinde g\u00f6r\u00fcyoruz.<\/p>\r\n\r\n\r\n\r\n<p class=\"wp-block-paragraph\">Dilerseniz basit bir \u00f6rnek ile HHI hesaplamas\u0131 yapal\u0131m.<\/p>\r\n\r\n\r\n\r\n<p class=\"wp-block-paragraph\"><strong>\u00d6RNEK HESAPLAMA<\/strong><\/p>\r\n\r\n\r\n\r\n<p class=\"wp-block-paragraph\">Bir pazarda:<\/p>\r\n\r\n\r\n\r\n<p class=\"wp-block-paragraph\">A, B ve C isimli \u00fc\u00e7 farkl\u0131 firman\u0131n faaliyet g\u00f6sterdi\u011fini d\u00fc\u015f\u00fcnelim. A pazar\u0131n %50&#8217;sine, B pazar\u0131n %30&#8217;una ve C pazar\u0131n %20&#8217;sine sahip olsun. A&#8217;n\u0131n B&#8217;yi devralmak istedi\u011fini ve gerekli t\u00fcm i\u015flemleri yapt\u0131\u011f\u0131n\u0131 konunun art\u0131k rekabet kuruluna intikal etti\u011fini d\u00fc\u015f\u00fcnelim. Bu durumda Rekabet Kurulu HHI&#8217;\u0131 kullanarak yo\u011funla\u015fma sonucu ilgili pazarda rekabetin ortadan kalk\u0131p kalkmad\u0131\u011f\u0131n\u0131 kontrol edecektir. Hesaplama \u015f\u00f6yle yap\u0131l\u0131r.<\/p>\r\n\r\n\r\n\r\n<ul class=\"wp-block-list\">\r\n<li>A&#8217;n\u0131n pazar pay\u0131 %50. Karesini ald\u0131\u011f\u0131m\u0131zda 2500&#8217;e ula\u015f\u0131yoruz.<\/li>\r\n<li>B&#8217;nin pazar pay\u0131 %30. Karesini ald\u0131\u011f\u0131m\u0131zda 900&#8217;e ula\u015f\u0131yoruz.<\/li>\r\n<li>C&#8217;nin pazar pay\u0131 %20. Karesini ald\u0131\u011f\u0131m\u0131zda 400&#8217;e ula\u015f\u0131yoruz.<\/li>\r\n<\/ul>\r\n\r\n\r\n\r\n<p class=\"wp-block-paragraph\">Ula\u015ft\u0131\u011f\u0131m\u0131z bu say\u0131lar\u0131 toplad\u0131\u011f\u0131m\u0131zda (2500 + 900 + 400) 3800&#8217;\u00fc elde ederiz. \u0130\u015fte bu de\u011fer bize Herfindahl-Hirschman Endeksini verir.<\/p>\r\n\r\n\r\n\r\n<p class=\"wp-block-paragraph\">Olay\u0131m\u0131zda A&#8217;n\u0131n B&#8217;yi devralaca\u011f\u0131n\u0131 belirtmi\u015ftik. Bu durumda devir i\u015flemi sonucunda A&#8217;n\u0131n pazar pay\u0131 (50+30) %80&#8217;e \u00e7\u0131karken, C&#8217;nin pazar pay\u0131 %20 olur. \u0130\u015flem sonucundaki HHI de\u011ferini hesaplayal\u0131m.<\/p>\r\n\r\n\r\n\r\n<ul class=\"wp-block-list\">\r\n<li>A&#8217;n\u0131n pazar pay\u0131 %80. Karesini ald\u0131\u011f\u0131m\u0131zda 6400&#8217;e ula\u015f\u0131yoruz.<\/li>\r\n<li>C&#8217;nin pazar pay\u0131 %20. Karesini ald\u0131\u011f\u0131m\u0131zda 400&#8217;e ula\u015f\u0131yoruz.<\/li>\r\n<\/ul>\r\n\r\n\r\n\r\n<p class=\"wp-block-paragraph\">Ula\u015ft\u0131\u011f\u0131m\u0131z bu say\u0131lar\u0131 toplad\u0131\u011f\u0131m\u0131zda (6400 + 400) 6800&#8217;\u00fc elde ederiz. Bu de\u011fer birle\u015fme ve devralma i\u015fleminden sonraki HHI de\u011feridir.<\/p>\r\n\r\n\r\n\r\n<p class=\"wp-block-paragraph\">Yo\u011funla\u015fma i\u015fleminin ard\u0131ndan elde etti\u011fimiz de\u011ferden, ilk de\u011feri \u00e7\u0131kartt\u0131\u011f\u0131m\u0131zda Deltay\u0131 3000 olarak buluyoruz. Yukar\u0131da da a\u00e7\u0131klad\u0131\u011f\u0131m\u0131z \u00fczere bu de\u011fi\u015fim 2000&#8217;in \u00fczerinde oldu\u011fu i\u00e7in rekabet kurumunun bu i\u015fleme muhtemelen izin vermeyece\u011fini s\u00f6ylememiz \u00e7ok da yanl\u0131\u015f olmaz.<\/p>\r\n\r\n\r\n\r\n<p class=\"wp-block-paragraph\">Bu \u00fc\u00e7 \u015firketten olu\u015fan \u00f6rne\u011fimizi konunun anla\u015f\u0131lmas\u0131 i\u00e7in kulland\u0131k. Asl\u0131nda bu birle\u015fme ve devralma i\u015fleminin rekabete olan etkisini HHI kullanmadan da \u00e7\u0131plak g\u00f6ze g\u00f6zlemleyebiliriz. A&#8217;n\u0131n B ile birle\u015fmesinin ard\u0131ndan pazar pay\u0131n\u0131n %80&#8217;e \u00e7\u0131kaca\u011f\u0131, ilgili pazarda C&#8217;nin %20&#8217;lik bir payla kalaca\u011f\u0131n\u0131 ve bunun da rekabete zarar verece\u011fini HHI kullanmadan da s\u00f6ylememiz m\u00fcmk\u00fcn.<\/p>\r\n\r\n\r\n\r\n<p class=\"wp-block-paragraph\">Ancak bu hesaplama her zaman bu kadar kolay olmuyor. Bir pazarda 30 farkl\u0131 \u015firket bulundu\u011funu ve bunlar\u0131n da pazar paylar\u0131n\u0131n %1, %2, %3 gibi oranlar oldu\u011funu d\u00fc\u015f\u00fcnelim. Bu pazardaki 7 \u015firketin birle\u015fmek istedi\u011fini varsayal\u0131m. \u0130\u015fte bu durumda de\u011fi\u015fimi \u00e7\u0131plak g\u00f6zle g\u00f6rmemiz bu kadar kolay olmayaca\u011f\u0131nda HHI yard\u0131m\u0131m\u0131za ko\u015facakt\u0131r.<\/p>\r\n","protected":false},"excerpt":{"rendered":"<p>Herfindahl-Hirschman Endeksi (Herfindahl-Hirschman Index &#8211; HHI ), rekabet hukukuna ili\u015fkin bir kavram olup \u00fclkemizde ve di\u011fer \u00fclkelerde yer alan Rekabet Kurumlar\u0131 taraf\u0131ndan kullan\u0131lan bir hesaplama arac\u0131d\u0131r. Bu endeks, birle\u015fme ve devralma neticesinde ilgili pazarda olu\u015facak olan yo\u011funla\u015fman\u0131n (concentration) hesaplanmas\u0131nda kullan\u0131l\u0131r. Birle\u015fme ve devralmalar\u0131n neticesinde piyasada tekel olu\u015fup olu\u015fmad\u0131\u011f\u0131 HHI sayesinde tespit edilir. Ancak HHI\u2019\u0131n rekabetin [&hellip;]<\/p>\n","protected":false},"author":3,"featured_media":3841,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[114],"tags":[109,110,111,112,113,115],"class_list":["post-3486","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-rekabet-hukuku","tag-herfindahl-hirschman-endeksi","tag-hhi-endeksi","tag-hhi-hesaplama","tag-hhi-indeksi","tag-hhi-index","tag-rekabet-hukuku"],"_links":{"self":[{"href":"https:\/\/galahukuk.com\/yayinlar\/wp-json\/wp\/v2\/posts\/3486","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/galahukuk.com\/yayinlar\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/galahukuk.com\/yayinlar\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/galahukuk.com\/yayinlar\/wp-json\/wp\/v2\/users\/3"}],"replies":[{"embeddable":true,"href":"https:\/\/galahukuk.com\/yayinlar\/wp-json\/wp\/v2\/comments?post=3486"}],"version-history":[{"count":2,"href":"https:\/\/galahukuk.com\/yayinlar\/wp-json\/wp\/v2\/posts\/3486\/revisions"}],"predecessor-version":[{"id":3842,"href":"https:\/\/galahukuk.com\/yayinlar\/wp-json\/wp\/v2\/posts\/3486\/revisions\/3842"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/galahukuk.com\/yayinlar\/wp-json\/wp\/v2\/media\/3841"}],"wp:attachment":[{"href":"https:\/\/galahukuk.com\/yayinlar\/wp-json\/wp\/v2\/media?parent=3486"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/galahukuk.com\/yayinlar\/wp-json\/wp\/v2\/categories?post=3486"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/galahukuk.com\/yayinlar\/wp-json\/wp\/v2\/tags?post=3486"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}