Entelektüel Sermaye Finansal Performansı ve Takipteki Kredileri Etkiler mi? Türk Bankacılık Sektöründen Kanıtlar
Year 2023,
Volume: 17 Issue: 1, 39 - 64, 30.06.2023
Abdulmuttalip Pilatin
,
Hasan Ayaydın
Abdulkadir Barut
References
- 1. Agusman, A., Monroe, G. S., Gasbarro, D., & Zumwalt, J. K. (2008). Accounting
and capital market measures of risk: evidence from Asian banks during
1998–2003. Journal of Banking and Finance, 32(4): 480–488.
- 2. Ayaydın, H., Pilatin, A., & Barut, A. (2021). Takipteki Kredilerin Bankaya Özgü,
Finansal Ve Makroekonomik Belirleyicileri: Türkiye Örneği. Uluslararası İktisadi
ve İdari İncelemeler Dergisi, (33): 169-186. DOI: https://doi.org/10.18092/
ulikidince.1013685
- 3. Baltagi, B.H., & Wu, P. X. (1999). Unequally Spaced Panel Data Regressıons
With Ar(1) Disturbances. Econometric Theory, 15: 814–823.
- 4. Barney, J. B. (1991). Firm Resources And Sustained Competitive Advantage.
Journal of Management, 17(1): 99–120.
- 5. Bhargava, A., Franzini, L., & Narendranathan, W. (1982). Serial Correlation
and the Fixed Effects Model. The Review of Economic Studies, 49(4): 533-
549.
- 6. Bontis, N., & Fitz-enz, J. (2002). Intellectual Capital ROI: A Causal Map of Human
Capital Antecedents and Consequents. Journal of Intellectual Capital,
3(3): 223-247.
- 7. Bontis, N., Janoševi´c, S., & Dženopoljac, V. (2015). Intellectual capital in
serbia’s hotel industry. Int. J. Contemp. Hosp. Managament, 27: 1365–1384.
- 8. Chen, M. C., Cheng, S. J., & Hwang, Y. (2005). An Empirical Investigation Of
The Relationship Between Intellectual Capital And Firms’ Market Value And
Financial Performance. Journal of Intellectual Capital, 6(2): 159-176.
- 9. Curado, C., Guedes, M. J., & Bontis, N. (2014). The financial crisis of banks
(before, during and after): an intellectual capital perspective. Knowledge and
Process Management, 21(2): 103-111.
- 10. Driscoll, J. C., & Kraay, A. C. (1998). Consistent Covariance Matrix Estimation
With Spatially Dependent Panel Data. Review of economics and statistics,
80(4): 549-560.
- 11. Edvinsson, L. (1997). Developing Intellectual Capital at Skandia. Long Range
Planning, 30(3): 320-373.
- 12. Edvinsson, L., & Malone, M. (1997). Intellectual Capital: Realizing Your Company’s
True Value by Finding Its Hidden Brain Power. New York: Harper Collins
Publisher Inc.
- 13. Ekim, N., Acar, M. & Uçan, O. (2019). Entelektüel Sermayenin Finans Sektöründe
Değer Yaratmadaki Rolü: Türk Bankacılık Sektöründe Bir Araştırma.
Verimlilik Dergisi, (4): 37-63.
- 14. El-Bannany, M. (2008). A study of determinants of intellectual capital performance
in banks: the UK case. Journal of intellectual capital, 9(3): 487-498.
- 15. Goh, P. C. (2005). Intellectual Capital Performance Of Commercial Banks In
Malaysia, Journal of Intellectual Capital, 6(3): 385-396.
- 16. Goldfinger, C. (1997). Understanding and measuring the intangible economy:
current status and suggestions for future research; In Paper presented at
the CIRET seminar :Helsinki.
- 17. Im, K. S., Pesaran, M. H., & Shin, Y. (2003). Testing For Unit Roots In Heterogeneous
Panels. Journal of econometrics, 115(1): 53-74.
- 18. Joshi, M., Cahill, D., Sidhu, J., & Kansal, M. (2013). Intellectual Capital And Financial
Performance: An Evaluation Of The Australian Financial Sector. Journal
of Intellectual Capital, 14(2): 264-285.
- 19. Latif, M., Malik, M.S., & Aslam, S. (2012). Intellectual Capital Efficiency And
Corporate Performance In Developing Countries: A Comparison Between Islamic
and Conventional Banks Of Pakistan. Interdisciplinary Journal Of Contemporary
Research In Business, 4(1): 405-420.
- 20. Lee, C. C., and Hsieh, M. F. (2013). The impact of bank capital on profitability
and risk in Asian banking. Journal of international money and finance, 32:
251-281.
- 21. Karacan, S., & Ergin, E. (2011). Bankalarin Entelektüel Sermayesi ile Finansal
Performansi Arasindaki Iliski/Intellectual Capital and Financial Performance in
the Banking Sector, Business and Economics Research Journal, 2(4): 73-88.
- 22. Maji, S. G. & Goswami, M. (2016). Intellectual Capital And Firm Performance
In Emerging Economies: The case of India. Review of International Business
and Strategy, 26(3): 410-430.
- 23. Mavridis, D. G. (2004). The Intellectual Capital Performance of the Japanese
Banking Sector.Journal of Intellectual Capital, 5(1): 92- 115.
- 24. Meles, A., Porzio, C., Sampagnaro, G. and Verdoliva, V. (2016). The Impact
Of The Intellectual Capital Efficiency On Commercial Banks Performance: Evidence
from the US. Journal of Multinational Financial Management, 36: 64-74.
- 25. Mondal, A., & Ghosh, S. K. (2012). Intellectual Capital And Financial Performance
Of Indian Banks. Journal of Intellectual Capital, 13(4): 515-530.
- 26. Oppong, G. K., & Pattanayak, J. K. (2019). Does investing in intellectual capital
improve productivity? Panel evidence from commercial banks in India.
Borsa Istanbul Review, 19(3): 219-227.
- 27. Özkan, N., Cakan, S. and Kayacan, M. (2017). Intellectual Capital And Financial
Performance: A Study Of The Turkish Banking Sector. Borsa Istanbul
Review, 17(3): 190-198. DOI: https://doi.org/10.1016/j.bir.2016.03.001
- 28. Pesaran, M. H. (2004). General diagnostic tests for cross section dependence
in panels. University of Cambridge, Faculty of Economics, Cambridge Working
Papers in Economics No. 0435.
- 29. Pulic, A. (2000). VAIC: An Accounting Tool For IC Management. International
Journal of Technology Management, 20(5-8): 702-714.
- 30. Pulic, A. (2004). Intellectual capital e does it create or destroy value? Measuring
Business Excellence, 8(1): 62-68.
- 31. Rehman, W. U., Chaudhary, A. R., Rehman, H. U., & Zahid, A. (2011). Intellectual
Capital Performance and Its Impact on Corporate Performance: An
Empirical Evidence from Modaraba Sector of Pakistan. Australian Journal of
Business and Management Research, 1(5): 8-16.
- 32. Reed, K.K., Lubatkin, M. and Srinivasan, N. (2006). Proposing and testing an
intellectual capital-based view of the firm. Journal of Management Studies,
43(4): 867-893.
- 33. Santos, D. B. & Netto, H. G. (2020). Financial Illiteracy and customer credit
history. Revista Brasileira de Gestão de Negócios, 22(Special Issue): 421-436.
- 34. Singh, S., Sidhu, J., Joshi, M., & Kansal, M. (2015). Measuring Intellectual
Capital Performance Of Indian banks: A public and private sector comparison.
Managerial Finance, 42(7): 635-655.
- 35. Ting, I. W. K., & Lean, H. H. (2009). Intellectual Capital Performance of Financial
Institutions in Malaysia. Journal of Intellectual Capital, 10(4): 588-599.
- 36. Tripathy, T., Gil-Alana, L.A. & Sahoo, D. (2015). The effect of intellectual
capital on firms’ financial performance: An empirical investigation in India”,
International Journal of Learning and Intellectual Capital, 12(4): 342-371.
- 37. Us, V. (2020). A panel VAR approach on analyzing non-performing loans
in the Turkish banking sector. BDDK Bankacılık ve Finansal Piyasalar Dergisi,
14(1): 1-38. DOI: http://dx.doi.org/10.46520/bddkdergisi.789935
- 38. Wang, M. (2011). Measuring Intellectual Capital and Its Effect on Financial
Performance: Evidence from the Capital Market in Taiwan. Frontiers of Business
Research in China, 5(2): 243–265.
- 39. Wang, W. K., Lu, W.M., & Wang, Y.H. (2013). The relationship between
bank performance and intellectual capital in East Asia. Qual Quant, 47:
1041–1062.
- 40. World Bank (1999). Knowledge for Development, New York: Oxford University
Press.
- 41. Yalama, A. (2013). The relationship between intellectual capital and banking
performance in Turkey: evidence from panel data. International Journal of
Learning and Intellectual Capital, 10(1): 71-87.
- 42. Zou, X. and Huan, T. C. (2011). A study of the intellectual capital’s impact
on listed banks’ performance in China. African Journal of Business Management,
5(12): 5001-5009.
Does Intellectual Capital Affect Financial Performance and Non-Performing Loans? Evidence From the Banking Sector in Turkey
Year 2023,
Volume: 17 Issue: 1, 39 - 64, 30.06.2023
Abdulmuttalip Pilatin
,
Hasan Ayaydın
Abdulkadir Barut
Abstract
The purpose of this study is to empirically examine the impact of intellectual capital (VAIC)
capacity of 21 Turkish banks on financial performance (ROA) and non-performing loans (NPL)
from 2004 to 2020. Panel data technique was used for analysis. The study results suggest that
banks’ intellectual capital is vital for their profitability, credit risk and competitive advantage. As
far as known, this is one of the first empirical researches in Turkey that examines the impact of IC
and its components on financial performance and non-performing loans of the Turkish banking
sector in the long term.
References
- 1. Agusman, A., Monroe, G. S., Gasbarro, D., & Zumwalt, J. K. (2008). Accounting
and capital market measures of risk: evidence from Asian banks during
1998–2003. Journal of Banking and Finance, 32(4): 480–488.
- 2. Ayaydın, H., Pilatin, A., & Barut, A. (2021). Takipteki Kredilerin Bankaya Özgü,
Finansal Ve Makroekonomik Belirleyicileri: Türkiye Örneği. Uluslararası İktisadi
ve İdari İncelemeler Dergisi, (33): 169-186. DOI: https://doi.org/10.18092/
ulikidince.1013685
- 3. Baltagi, B.H., & Wu, P. X. (1999). Unequally Spaced Panel Data Regressıons
With Ar(1) Disturbances. Econometric Theory, 15: 814–823.
- 4. Barney, J. B. (1991). Firm Resources And Sustained Competitive Advantage.
Journal of Management, 17(1): 99–120.
- 5. Bhargava, A., Franzini, L., & Narendranathan, W. (1982). Serial Correlation
and the Fixed Effects Model. The Review of Economic Studies, 49(4): 533-
549.
- 6. Bontis, N., & Fitz-enz, J. (2002). Intellectual Capital ROI: A Causal Map of Human
Capital Antecedents and Consequents. Journal of Intellectual Capital,
3(3): 223-247.
- 7. Bontis, N., Janoševi´c, S., & Dženopoljac, V. (2015). Intellectual capital in
serbia’s hotel industry. Int. J. Contemp. Hosp. Managament, 27: 1365–1384.
- 8. Chen, M. C., Cheng, S. J., & Hwang, Y. (2005). An Empirical Investigation Of
The Relationship Between Intellectual Capital And Firms’ Market Value And
Financial Performance. Journal of Intellectual Capital, 6(2): 159-176.
- 9. Curado, C., Guedes, M. J., & Bontis, N. (2014). The financial crisis of banks
(before, during and after): an intellectual capital perspective. Knowledge and
Process Management, 21(2): 103-111.
- 10. Driscoll, J. C., & Kraay, A. C. (1998). Consistent Covariance Matrix Estimation
With Spatially Dependent Panel Data. Review of economics and statistics,
80(4): 549-560.
- 11. Edvinsson, L. (1997). Developing Intellectual Capital at Skandia. Long Range
Planning, 30(3): 320-373.
- 12. Edvinsson, L., & Malone, M. (1997). Intellectual Capital: Realizing Your Company’s
True Value by Finding Its Hidden Brain Power. New York: Harper Collins
Publisher Inc.
- 13. Ekim, N., Acar, M. & Uçan, O. (2019). Entelektüel Sermayenin Finans Sektöründe
Değer Yaratmadaki Rolü: Türk Bankacılık Sektöründe Bir Araştırma.
Verimlilik Dergisi, (4): 37-63.
- 14. El-Bannany, M. (2008). A study of determinants of intellectual capital performance
in banks: the UK case. Journal of intellectual capital, 9(3): 487-498.
- 15. Goh, P. C. (2005). Intellectual Capital Performance Of Commercial Banks In
Malaysia, Journal of Intellectual Capital, 6(3): 385-396.
- 16. Goldfinger, C. (1997). Understanding and measuring the intangible economy:
current status and suggestions for future research; In Paper presented at
the CIRET seminar :Helsinki.
- 17. Im, K. S., Pesaran, M. H., & Shin, Y. (2003). Testing For Unit Roots In Heterogeneous
Panels. Journal of econometrics, 115(1): 53-74.
- 18. Joshi, M., Cahill, D., Sidhu, J., & Kansal, M. (2013). Intellectual Capital And Financial
Performance: An Evaluation Of The Australian Financial Sector. Journal
of Intellectual Capital, 14(2): 264-285.
- 19. Latif, M., Malik, M.S., & Aslam, S. (2012). Intellectual Capital Efficiency And
Corporate Performance In Developing Countries: A Comparison Between Islamic
and Conventional Banks Of Pakistan. Interdisciplinary Journal Of Contemporary
Research In Business, 4(1): 405-420.
- 20. Lee, C. C., and Hsieh, M. F. (2013). The impact of bank capital on profitability
and risk in Asian banking. Journal of international money and finance, 32:
251-281.
- 21. Karacan, S., & Ergin, E. (2011). Bankalarin Entelektüel Sermayesi ile Finansal
Performansi Arasindaki Iliski/Intellectual Capital and Financial Performance in
the Banking Sector, Business and Economics Research Journal, 2(4): 73-88.
- 22. Maji, S. G. & Goswami, M. (2016). Intellectual Capital And Firm Performance
In Emerging Economies: The case of India. Review of International Business
and Strategy, 26(3): 410-430.
- 23. Mavridis, D. G. (2004). The Intellectual Capital Performance of the Japanese
Banking Sector.Journal of Intellectual Capital, 5(1): 92- 115.
- 24. Meles, A., Porzio, C., Sampagnaro, G. and Verdoliva, V. (2016). The Impact
Of The Intellectual Capital Efficiency On Commercial Banks Performance: Evidence
from the US. Journal of Multinational Financial Management, 36: 64-74.
- 25. Mondal, A., & Ghosh, S. K. (2012). Intellectual Capital And Financial Performance
Of Indian Banks. Journal of Intellectual Capital, 13(4): 515-530.
- 26. Oppong, G. K., & Pattanayak, J. K. (2019). Does investing in intellectual capital
improve productivity? Panel evidence from commercial banks in India.
Borsa Istanbul Review, 19(3): 219-227.
- 27. Özkan, N., Cakan, S. and Kayacan, M. (2017). Intellectual Capital And Financial
Performance: A Study Of The Turkish Banking Sector. Borsa Istanbul
Review, 17(3): 190-198. DOI: https://doi.org/10.1016/j.bir.2016.03.001
- 28. Pesaran, M. H. (2004). General diagnostic tests for cross section dependence
in panels. University of Cambridge, Faculty of Economics, Cambridge Working
Papers in Economics No. 0435.
- 29. Pulic, A. (2000). VAIC: An Accounting Tool For IC Management. International
Journal of Technology Management, 20(5-8): 702-714.
- 30. Pulic, A. (2004). Intellectual capital e does it create or destroy value? Measuring
Business Excellence, 8(1): 62-68.
- 31. Rehman, W. U., Chaudhary, A. R., Rehman, H. U., & Zahid, A. (2011). Intellectual
Capital Performance and Its Impact on Corporate Performance: An
Empirical Evidence from Modaraba Sector of Pakistan. Australian Journal of
Business and Management Research, 1(5): 8-16.
- 32. Reed, K.K., Lubatkin, M. and Srinivasan, N. (2006). Proposing and testing an
intellectual capital-based view of the firm. Journal of Management Studies,
43(4): 867-893.
- 33. Santos, D. B. & Netto, H. G. (2020). Financial Illiteracy and customer credit
history. Revista Brasileira de Gestão de Negócios, 22(Special Issue): 421-436.
- 34. Singh, S., Sidhu, J., Joshi, M., & Kansal, M. (2015). Measuring Intellectual
Capital Performance Of Indian banks: A public and private sector comparison.
Managerial Finance, 42(7): 635-655.
- 35. Ting, I. W. K., & Lean, H. H. (2009). Intellectual Capital Performance of Financial
Institutions in Malaysia. Journal of Intellectual Capital, 10(4): 588-599.
- 36. Tripathy, T., Gil-Alana, L.A. & Sahoo, D. (2015). The effect of intellectual
capital on firms’ financial performance: An empirical investigation in India”,
International Journal of Learning and Intellectual Capital, 12(4): 342-371.
- 37. Us, V. (2020). A panel VAR approach on analyzing non-performing loans
in the Turkish banking sector. BDDK Bankacılık ve Finansal Piyasalar Dergisi,
14(1): 1-38. DOI: http://dx.doi.org/10.46520/bddkdergisi.789935
- 38. Wang, M. (2011). Measuring Intellectual Capital and Its Effect on Financial
Performance: Evidence from the Capital Market in Taiwan. Frontiers of Business
Research in China, 5(2): 243–265.
- 39. Wang, W. K., Lu, W.M., & Wang, Y.H. (2013). The relationship between
bank performance and intellectual capital in East Asia. Qual Quant, 47:
1041–1062.
- 40. World Bank (1999). Knowledge for Development, New York: Oxford University
Press.
- 41. Yalama, A. (2013). The relationship between intellectual capital and banking
performance in Turkey: evidence from panel data. International Journal of
Learning and Intellectual Capital, 10(1): 71-87.
- 42. Zou, X. and Huan, T. C. (2011). A study of the intellectual capital’s impact
on listed banks’ performance in China. African Journal of Business Management,
5(12): 5001-5009.