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İSTENMEYEN ÇIKTI ALTINDA ETKİNLİK ANALİZİ: TÜRK BANKACILIK SEKTÖRÜ ÜZERİNE BİR ANALİZ

Year 2020, Volume: 23 Issue: 43, 199 - 228, 30.06.2020
https://doi.org/10.31795/baunsobed.691806

Abstract

Bu çalışmanın amacı istenmeyen çıktı olarak değerlendirilen takipteki kredilerin (NPLs) bankaların etkinlik düzeyi üzerindeki etkisini analiz etmektir. Çalışmada her bir bankaya ait riske-uyarlanmış etkinlik skorları yönlü uzaklık fonksiyonları kullanılarak yeni bir yaklaşımla hesaplanmaktadır. Böylece istenmeyen çıktının bankanın etkinlik skorları üzerindeki etkisi içsel olarak belirlenmektedir. Ayrıca duyarlılık analizleri çerçevesinde Simar-Wilson kesikli bootstrap regresyon modeli kullanılarak takipteki kredilerin banka etkinlik skorları üzerindeki etkisi dışsal olarak test edilmektedir. Çalışmanın örneklemi 2011-2018 dönemi ve Türk bankacılık sektöründe faaliyet gösteren 21 mevduat bankasından oluşmaktadır. Elde edilen bulgular, takipteki kredilerin dahil edildiği riske-uyarlanmış etkinlik skorlarının geleneksel etkinlik skorlarından daha düşük olduğunu göstermektedir. Bu sonuç istenmeyen çıktının bankaların etkinlik skorları üzerinde negatif etkisinin olduğu anlamına gelmektedir. Tahmin edilen kesikli regresyon modeli sonuçları da ulaşılan sonuçları desteklemektedir.

References

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  • Amel, D., Barnes, C., Panetta., F. ve Salleo, C. (2004). Consolidation and efficiency in the financial sector: A review of the international evidence. Journal of Banking & Finance, 28(10), 2493–2519. https://doi.org/10.1016/j.jbankfin.2003.10.013
  • Afonso, A. ve Aubyn, M. S. (2006). Cross-country efficiency of secondary education provision: A semi-parametric analysis with non-discretionary inputs. Economic Modelling, 23(3), 476–91.
  • Ataullah, A. ve Le, H. (2006). Economic Reforms and Bank Efficiency in Developing Countries: The Case of the Indian Banking Industry. Applied Financial Economics, 16, 653–663.
  • Assaf, A. G., Matousek, R. ve Tsionas, E. G. (2013). Turkish bank efficiency: Bayesian estimation with undesirable outputs. Journal of Banking and Finance 37, 506–517.
  • Aysan, A. F. ve Ceyhan, S. P. (2008). Globalization of Turkey’s banking sector: determinants of foreign bank penetration in Turkey, International Research Journal of Finance and Economics, 15, 1-31.
  • Banker, R. D., Charnes, A. ve Cooper, W. W. (1984). Some models for estimating and scale inefficiencies in data envelopment analysis. Management Science, 30 (9), 1078-1092.
  • Batır, T. E., Volkman, D. A. ve Gungor, B. (2017). Determinants of bank efficiency in Turkey: Participation banks versus conventional banks. Borsa Istanbul Review, 17, 86–96.
  • Barros, C. P., Managi, S. ve Matousek, R. (2012). The technical efficiency of the Japanese banks: Non-radial directional performance measurement with undesirable output, Omega, 40( 1), 1-8.
  • Barros, C. P ve Assaf, A. (2009). Bootstrapped efficiency measures of oil blocks in Angola. Energy Policy, 37, 4098–4103. Barth, J. R., Lin, C., Ma, Y., Seade, J. ve Song, F. M. (2013). Do bank regulation, supervision and monitoring enhance or impede bank efficiency?. Journal of Banking & Finance, 37(8), 2879–2892. https://doi.org/10.1016/j.jbankfin.2013.04.030
  • Berger, A. N. ve DeYoung, R. (1997). Problem loans and cost efficiency in commercial banks, Journal of Banking and Finance, 21(6), 849-870.
  • Berger, A. N. ve Humphrey, D. B. (1997). Efficiency of financial institutions: International survey and directions for future research. European Journal of Operational Research, 98(2): 175–212.
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  • Charnes, A., Cooper, W. W. ve Rhodes, E. (1978). Measuring the Efficiency of Decision Making Units. European Journal of Operational Research, 2, 429–444. doi:10.1016/0377-2217(78)90138 8.
  • Chang, T. C. ve Chiu, Y. H. (2006). Affecting factors on risk-adjusted efficiency in Taiwan banking industry. Contemporary Economic Policy, 24(4), 634–648. https://doi.org/10.1093/cep/byl008
  • Chen, Y. ve Liang, L. (2011). Super-efficiency DEA in the of Infeasibility: One Model Approach. European Journal of Operational Research, 213, 359–360. doi:10.1016/j.ejor.2011.03.026.
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  • Das, A. ve Ghosh, S. (2009). Financial deregulation and profit efficiency: A nonparametric analysis of Indian banks. Journal of Economics and Business, 61(6), 509-528.
  • Demir, N., Mahmud, S. F. ve Babuscu, S. (2005). The Technical Inefficiency Effects of Turkish Banks After Financial Liberalization. The Developing Economies, 43 (3), 396-411.
  • Denizer, C. A., Dinc, M. ve Tarimcilar, M. (2007). Financial liberalization and banking efficiency: evidence from Turkey, Journal of Productivity Analysis, 27 (3), 177–195.
  • Diallo, B. (2018). Bank efficiency and industry growth during financial crises. Economic Modelling 68: 11–22.
  • Dongili, P. ve Zago, A. (2005). Bad Loans and Efficiencies in Italian Bank, Working Paper, Dipartimento di Scienze Economiche, University of Verona, No:28.
  • Drake, L., Hall, M. J. ve Simper, R. (2006). The impact of macroeconomic and regulatory factors on bank efficiency: A non-parametric analysis of Hong Kong’s banking system, Journal of Banking & Finance, 30(5), 1443– 1466.
  • El-Gamal, M. A. ve Inanoglu, H. (2005). Inefficiency and heterogeneity in Turkish banking: 1990–2000, Journal of Applied Economics, 20 (5), 641-664.
  • Fan, L. ve Shaffer, S. (2004). Efficiency versus Risk in Large Domestic US Banks. Managerial Finance, 30 (9), 1-19. https://doi.org/10.1108/03074350410769245
  • Färe, R., Grosskopf, S. ve Lovell, C. A. K. (2005). The Measurement of Efficiency of Production. Kluwer Academic Publishers, Boston.
  • Farrell, M. J. (1957). The Measurement of Productive Efficiency. Journal of the Royal Statistical Society, Series A (general), 120, 229–253.
  • Fernandez, C., Koop, G. ve Steel, M. (2002). Multiple-output production with undesirable outputs: an application to nitrogen surplus in agriculture. Journal of the American Statistical Association, 97, 432–442.
  • Fethi, M. D. ve Pasiouras, F. (2010). Assessing bank efficiency and performance with operational research and artificial intelligence techniques: a survey. European Journal of Operational Research, 204: 189-198. https://doi.org/10.1016/j.ejor.2009.08.003
  • Fiordelisi, F., Marques-Ibanez, D. ve Molyneux, P. (2011). Efficiency and risk in European banking, Journal of Banking & Finance, 35(5), 1315-1326. Fukuyama, H., Guerra, R. ve Weber, W. L. (1999). Efficiency and ownership: evidence from Japanese credit cooperatives. Journal of Economics and Business, 51(6), 473-487.
  • Fukuyama, H. ve Weber, W. L. (2008). Japanese banking inefficiencyand shadow pricing. Mathematical Computer Modeling, 48(11–12), 1854–1867.
  • Fukuyama, H. ve Weber, W. L. (2010). A slacks-based inefficiency measure for a two-stage system with bad outputs, Omega, 38:398–409.
  • Fukuyama, H. ve Matousek, R. (2011). Efficiency of Turkish banking: two-stage network system. Variable returns to scale model, Journal of International Financial Markets, Institutions and Money, 21 (1), 75-91.
  • Fujii, H., Managi, S. ve Matousek, R. (2014). Indian bank efficiency and productivity changes with undesirable outputs: A disaggregated approach, Journal of Banking & Finance, 38: 41–50. https://doi.org/10.1016/j.jbankfin.2013.09.022
  • Girardone, C., Molyneux, P. ve Gardener, E. P. M. (2004). Analysing the determinants of bank efficiency: the case of Italian banks. Applied Economics, 36 (3), 215-227.
  • Hjalmarsson, L., Kumbhakar, S. ve Hesmati, A. (1996). DEA, DFA and SFA: A Comparison. Journal of Productivity Analysis, 7, 303-327.
  • Hughes, J. P. ve Mester, L. J. (1993). Accounting for the demand for financial capital and risk-taking in bank cost functions. Working Paper, Federal Reserve Bank of Philadelphia, No. 93–17,
  • Isik, I. (2008). Productivity, Technology and Efficiency of De Novo Banks: A Counter Evidence from Turkey. Journal of Multinational Financial Management, 18, 427–442.
  • Isik, I. ve Hassan, M. K. (2002). Technical, scale and allocative efficiencies of Turkish banking industry. Journal of Banking and Finance, 26, 719–766.
  • Isik, I. ve Hassan, M. K. (2003b). Financial deregulation and total factor productivity change: an empirical study of Turkish commercial banks, Journal of Banking & Finance, 27 (8), 1455- 1485.
  • Lampe, H. W. ve Hilgers, D. (2015). Trajectories of Efficiency Measurement: A Bibliometric Analysis of DEA and SFA. European Journal of Operational Research, 240, 1–21.
  • Laeven, L. (1999). Risk and efficiency in East Asian banks, Working Paper World Bank, No. 2255.
  • Maggi, B. ve Guida, M. (2011). Modelling non-performing loans probability in the commercial banking system: efficiency and effectiveness related to credit risk in Italy. Empirical Economics, 41(2), 269–291.
  • Matthews, K. (2013). Risk management and managerial efficiency in Chinese banks: a network DEA framework, Omega, 41 (2), 207-215.
  • Mester, L. J. (1996). A study of bank efficiency taking into account risk-preferences. Journal of Banking and Finance, 20, 1025–1045.
  • Murillo-Zamorano, L. R. (2004). Economic Efficiency and Frontier Techniques. Journal of Economic Surveys, 18(1), 33-77.
  • Olson, D. ve Zoubi, T. A. (2011). Efficiency and bank profitability in MENA countries. Emerging Markets Review, 12(2), 94–110.
  • Partovi, E. ve Matousek, R. (2019). Bank efficiency and non-performing loans: Evidence from Turkey. Research in International Business and Finance, 48(C), 287-309.
  • Paradi, J. C. ve Zhu, H. (2013). A Survey on Bank Branch Efficiency and Performance Research With Data Envelopment Analysis. Omega, 41(1), 61-79.
  • Park, K. H. ve Weber, W. L. (2006). A note on efficiency and productivity growth in the Korean banking industry, 1992–2002. Journal of Banking and Finance, 30 (8), 2371–2386. https://doi.org/10.1016/j.jbankfin.2005.09.013
  • Pasiouras, F. (2008). International evidence on the impact of regulationsand supervision on banks’ technical efficiency: An application of two-stage data envelopment analysis. Review of Quantitative Finance and Accounting, 30, 187–223.
  • Pasiouras, F. (2008). Estimating the technical and scale efficiency of Greek commercial banks: the impact of credit risk, off-balance sheet activities, and international operations, Research in International Business and Finance, 22, 301–318. https://doi.org/10.1016/j.ribaf.2007.09.002
  • Ray, S. C. (1991). Resource-use efficiency in public schools: A study of connecticut data. Management Scence, 37(12), 1620–1628.
  • Rebai, S. (2018). Measuring The Efficiency of European Banks: A Directional Distance Function Approach, International Journal of Advanced Research, 6 (10), 940 – 951.
  • Sealey, C. ve Lindley, J. T. (1977). Inputs, outputs and a theory of production and cost at depository financial institution, Journal of Finance, 32:1251–1266.
  • Sathye, M. (2003). Efficiency of Banks in Developing Countries: The Case Study of India. European Journal of Operational Research, 148, 662–671.
  • Scheel, H. (2001). Undesirable Outputs in Efficiency Valuations. European Journal of Operational Research, 132, 400-410.
  • Seiford, L. M. (1996). Data Envelopment Analysis: The Evolution of the State of the Art (1978-1995). Journal of Productivity Analysis, 7, 99-137.
  • Simar, L. ve Wilson, P. W. (2007). Estimation and inference in two stage, semi-parametric models of productive efficiency. Journal of Econometrics, 136, 31–64.
  • Shephard, R. W. (1970). Theory of Cost and Production. Princeton: Princeton University Press.
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Analyzing Efficiency with Undesirable Output: An Analysis on the Turkish Banking Sector

Year 2020, Volume: 23 Issue: 43, 199 - 228, 30.06.2020
https://doi.org/10.31795/baunsobed.691806

Abstract

The aim of this study
is to analyze the effect of non-performing loans (NPLs), which are considered
as
undesirable outputs, on banks' efficiency
level. In the study, risk-adjusted efficiency scores of each bank are estimated
with a new approach by using directional distance functions. Thus, the effect
of
undesirable output on the bank's
efficiency scores is determined internally. Furthermore, within the framework
of sensitivity analysis, the effect of non-performing loans on bank efficiency
scores is externally tested by using the Simar-Wilson truncated bootstrap
regression model. The sample of the study consists of the period of 2011-2018
and 21 deposit banks operating in the Turkish banking sector. The findings show
that risk-adjusted efficiency scores, including non-performing loans, are lower
than traditional efficiency scores. This result means that
undesirable output has a negative
effect on banks' efficiency scores. The truncated regression results also
support the results obtained.

References

  • Aigner, D. C., Lovell, A. K. ve Schmidt, P. (1977). Formulation and Estimation of Stochastic Frontier Production Function Models. Journal of Econometrics, 6, 21-37.
  • Altunbas, Y., Liu, M.H., Molyneux, P. ve Seth, R. (2000). Efficiency and risk in Japanese banking. Journal of Banking and Finance, 24, 1605–1628.
  • Alexander, W. R. J., Haug, A. A. ve Jaforullah, M. (2010). A two-stage double-bootstrap data envelopment analysis of efficiency differences of New Zealand secondary schools. Journal of Productivity Analysis, 34(2), 99–110.
  • Amel, D., Barnes, C., Panetta., F. ve Salleo, C. (2004). Consolidation and efficiency in the financial sector: A review of the international evidence. Journal of Banking & Finance, 28(10), 2493–2519. https://doi.org/10.1016/j.jbankfin.2003.10.013
  • Afonso, A. ve Aubyn, M. S. (2006). Cross-country efficiency of secondary education provision: A semi-parametric analysis with non-discretionary inputs. Economic Modelling, 23(3), 476–91.
  • Ataullah, A. ve Le, H. (2006). Economic Reforms and Bank Efficiency in Developing Countries: The Case of the Indian Banking Industry. Applied Financial Economics, 16, 653–663.
  • Assaf, A. G., Matousek, R. ve Tsionas, E. G. (2013). Turkish bank efficiency: Bayesian estimation with undesirable outputs. Journal of Banking and Finance 37, 506–517.
  • Aysan, A. F. ve Ceyhan, S. P. (2008). Globalization of Turkey’s banking sector: determinants of foreign bank penetration in Turkey, International Research Journal of Finance and Economics, 15, 1-31.
  • Banker, R. D., Charnes, A. ve Cooper, W. W. (1984). Some models for estimating and scale inefficiencies in data envelopment analysis. Management Science, 30 (9), 1078-1092.
  • Batır, T. E., Volkman, D. A. ve Gungor, B. (2017). Determinants of bank efficiency in Turkey: Participation banks versus conventional banks. Borsa Istanbul Review, 17, 86–96.
  • Barros, C. P., Managi, S. ve Matousek, R. (2012). The technical efficiency of the Japanese banks: Non-radial directional performance measurement with undesirable output, Omega, 40( 1), 1-8.
  • Barros, C. P ve Assaf, A. (2009). Bootstrapped efficiency measures of oil blocks in Angola. Energy Policy, 37, 4098–4103. Barth, J. R., Lin, C., Ma, Y., Seade, J. ve Song, F. M. (2013). Do bank regulation, supervision and monitoring enhance or impede bank efficiency?. Journal of Banking & Finance, 37(8), 2879–2892. https://doi.org/10.1016/j.jbankfin.2013.04.030
  • Berger, A. N. ve DeYoung, R. (1997). Problem loans and cost efficiency in commercial banks, Journal of Banking and Finance, 21(6), 849-870.
  • Berger, A. N. ve Humphrey, D. B. (1997). Efficiency of financial institutions: International survey and directions for future research. European Journal of Operational Research, 98(2): 175–212.
  • Chang, C. C. (1999). The Nonparametric Risk‐Adjusted Efficiency Measurement: An Application to Taiwan's Major Rural Financial Intermediaries. American Journal of Agricultural Economics, 81(4), 902-913
  • Charnes, A., Cooper, W. W. ve Rhodes, E. (1978). Measuring the Efficiency of Decision Making Units. European Journal of Operational Research, 2, 429–444. doi:10.1016/0377-2217(78)90138 8.
  • Chang, T. C. ve Chiu, Y. H. (2006). Affecting factors on risk-adjusted efficiency in Taiwan banking industry. Contemporary Economic Policy, 24(4), 634–648. https://doi.org/10.1093/cep/byl008
  • Chen, Y. ve Liang, L. (2011). Super-efficiency DEA in the of Infeasibility: One Model Approach. European Journal of Operational Research, 213, 359–360. doi:10.1016/j.ejor.2011.03.026.
  • Chiu, Y., Chen, C. ve Bai, X. (2011). Efficiency and Risk in Taiwan Banking: SBM Super-DEA Estimation, Applied Economics, 43, 587-602. Chortareas, G. E., Girardone, C. ve Ventouri, A. (2009). Efficiency and productivity of Greek banks in the EMU era, Applied Financial Economics, 19(16), 1317–1328. https://doi.org/10.1080/09603100802599506
  • Cooper, W. W., Seiford, L. M. ve Tone, K. (2007). Some models and measures for evaluating performances with DEA: past accomplishments and future prospects. Journal of Productivity Analysis, 28:151–63.
  • Coelli, T. J., Rao, D. S. P., O'Donnell C. J. ve Battese G. E. (2005). An introduction to efficiency and productivity analysis, 2nd ed. New York, NY, Springer.
  • Das, A. ve Ghosh, S. (2009). Financial deregulation and profit efficiency: A nonparametric analysis of Indian banks. Journal of Economics and Business, 61(6), 509-528.
  • Demir, N., Mahmud, S. F. ve Babuscu, S. (2005). The Technical Inefficiency Effects of Turkish Banks After Financial Liberalization. The Developing Economies, 43 (3), 396-411.
  • Denizer, C. A., Dinc, M. ve Tarimcilar, M. (2007). Financial liberalization and banking efficiency: evidence from Turkey, Journal of Productivity Analysis, 27 (3), 177–195.
  • Diallo, B. (2018). Bank efficiency and industry growth during financial crises. Economic Modelling 68: 11–22.
  • Dongili, P. ve Zago, A. (2005). Bad Loans and Efficiencies in Italian Bank, Working Paper, Dipartimento di Scienze Economiche, University of Verona, No:28.
  • Drake, L., Hall, M. J. ve Simper, R. (2006). The impact of macroeconomic and regulatory factors on bank efficiency: A non-parametric analysis of Hong Kong’s banking system, Journal of Banking & Finance, 30(5), 1443– 1466.
  • El-Gamal, M. A. ve Inanoglu, H. (2005). Inefficiency and heterogeneity in Turkish banking: 1990–2000, Journal of Applied Economics, 20 (5), 641-664.
  • Fan, L. ve Shaffer, S. (2004). Efficiency versus Risk in Large Domestic US Banks. Managerial Finance, 30 (9), 1-19. https://doi.org/10.1108/03074350410769245
  • Färe, R., Grosskopf, S. ve Lovell, C. A. K. (2005). The Measurement of Efficiency of Production. Kluwer Academic Publishers, Boston.
  • Farrell, M. J. (1957). The Measurement of Productive Efficiency. Journal of the Royal Statistical Society, Series A (general), 120, 229–253.
  • Fernandez, C., Koop, G. ve Steel, M. (2002). Multiple-output production with undesirable outputs: an application to nitrogen surplus in agriculture. Journal of the American Statistical Association, 97, 432–442.
  • Fethi, M. D. ve Pasiouras, F. (2010). Assessing bank efficiency and performance with operational research and artificial intelligence techniques: a survey. European Journal of Operational Research, 204: 189-198. https://doi.org/10.1016/j.ejor.2009.08.003
  • Fiordelisi, F., Marques-Ibanez, D. ve Molyneux, P. (2011). Efficiency and risk in European banking, Journal of Banking & Finance, 35(5), 1315-1326. Fukuyama, H., Guerra, R. ve Weber, W. L. (1999). Efficiency and ownership: evidence from Japanese credit cooperatives. Journal of Economics and Business, 51(6), 473-487.
  • Fukuyama, H. ve Weber, W. L. (2008). Japanese banking inefficiencyand shadow pricing. Mathematical Computer Modeling, 48(11–12), 1854–1867.
  • Fukuyama, H. ve Weber, W. L. (2010). A slacks-based inefficiency measure for a two-stage system with bad outputs, Omega, 38:398–409.
  • Fukuyama, H. ve Matousek, R. (2011). Efficiency of Turkish banking: two-stage network system. Variable returns to scale model, Journal of International Financial Markets, Institutions and Money, 21 (1), 75-91.
  • Fujii, H., Managi, S. ve Matousek, R. (2014). Indian bank efficiency and productivity changes with undesirable outputs: A disaggregated approach, Journal of Banking & Finance, 38: 41–50. https://doi.org/10.1016/j.jbankfin.2013.09.022
  • Girardone, C., Molyneux, P. ve Gardener, E. P. M. (2004). Analysing the determinants of bank efficiency: the case of Italian banks. Applied Economics, 36 (3), 215-227.
  • Hjalmarsson, L., Kumbhakar, S. ve Hesmati, A. (1996). DEA, DFA and SFA: A Comparison. Journal of Productivity Analysis, 7, 303-327.
  • Hughes, J. P. ve Mester, L. J. (1993). Accounting for the demand for financial capital and risk-taking in bank cost functions. Working Paper, Federal Reserve Bank of Philadelphia, No. 93–17,
  • Isik, I. (2008). Productivity, Technology and Efficiency of De Novo Banks: A Counter Evidence from Turkey. Journal of Multinational Financial Management, 18, 427–442.
  • Isik, I. ve Hassan, M. K. (2002). Technical, scale and allocative efficiencies of Turkish banking industry. Journal of Banking and Finance, 26, 719–766.
  • Isik, I. ve Hassan, M. K. (2003b). Financial deregulation and total factor productivity change: an empirical study of Turkish commercial banks, Journal of Banking & Finance, 27 (8), 1455- 1485.
  • Lampe, H. W. ve Hilgers, D. (2015). Trajectories of Efficiency Measurement: A Bibliometric Analysis of DEA and SFA. European Journal of Operational Research, 240, 1–21.
  • Laeven, L. (1999). Risk and efficiency in East Asian banks, Working Paper World Bank, No. 2255.
  • Maggi, B. ve Guida, M. (2011). Modelling non-performing loans probability in the commercial banking system: efficiency and effectiveness related to credit risk in Italy. Empirical Economics, 41(2), 269–291.
  • Matthews, K. (2013). Risk management and managerial efficiency in Chinese banks: a network DEA framework, Omega, 41 (2), 207-215.
  • Mester, L. J. (1996). A study of bank efficiency taking into account risk-preferences. Journal of Banking and Finance, 20, 1025–1045.
  • Murillo-Zamorano, L. R. (2004). Economic Efficiency and Frontier Techniques. Journal of Economic Surveys, 18(1), 33-77.
  • Olson, D. ve Zoubi, T. A. (2011). Efficiency and bank profitability in MENA countries. Emerging Markets Review, 12(2), 94–110.
  • Partovi, E. ve Matousek, R. (2019). Bank efficiency and non-performing loans: Evidence from Turkey. Research in International Business and Finance, 48(C), 287-309.
  • Paradi, J. C. ve Zhu, H. (2013). A Survey on Bank Branch Efficiency and Performance Research With Data Envelopment Analysis. Omega, 41(1), 61-79.
  • Park, K. H. ve Weber, W. L. (2006). A note on efficiency and productivity growth in the Korean banking industry, 1992–2002. Journal of Banking and Finance, 30 (8), 2371–2386. https://doi.org/10.1016/j.jbankfin.2005.09.013
  • Pasiouras, F. (2008). International evidence on the impact of regulationsand supervision on banks’ technical efficiency: An application of two-stage data envelopment analysis. Review of Quantitative Finance and Accounting, 30, 187–223.
  • Pasiouras, F. (2008). Estimating the technical and scale efficiency of Greek commercial banks: the impact of credit risk, off-balance sheet activities, and international operations, Research in International Business and Finance, 22, 301–318. https://doi.org/10.1016/j.ribaf.2007.09.002
  • Ray, S. C. (1991). Resource-use efficiency in public schools: A study of connecticut data. Management Scence, 37(12), 1620–1628.
  • Rebai, S. (2018). Measuring The Efficiency of European Banks: A Directional Distance Function Approach, International Journal of Advanced Research, 6 (10), 940 – 951.
  • Sealey, C. ve Lindley, J. T. (1977). Inputs, outputs and a theory of production and cost at depository financial institution, Journal of Finance, 32:1251–1266.
  • Sathye, M. (2003). Efficiency of Banks in Developing Countries: The Case Study of India. European Journal of Operational Research, 148, 662–671.
  • Scheel, H. (2001). Undesirable Outputs in Efficiency Valuations. European Journal of Operational Research, 132, 400-410.
  • Seiford, L. M. (1996). Data Envelopment Analysis: The Evolution of the State of the Art (1978-1995). Journal of Productivity Analysis, 7, 99-137.
  • Simar, L. ve Wilson, P. W. (2007). Estimation and inference in two stage, semi-parametric models of productive efficiency. Journal of Econometrics, 136, 31–64.
  • Shephard, R. W. (1970). Theory of Cost and Production. Princeton: Princeton University Press.
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There are 69 citations in total.

Details

Primary Language Turkish
Subjects Economics
Journal Section Business
Authors

Ramazan Ekinci 0000-0001-7420-9841

Publication Date June 30, 2020
Submission Date February 20, 2020
Acceptance Date May 17, 2020
Published in Issue Year 2020 Volume: 23 Issue: 43

Cite

APA Ekinci, R. (2020). İSTENMEYEN ÇIKTI ALTINDA ETKİNLİK ANALİZİ: TÜRK BANKACILIK SEKTÖRÜ ÜZERİNE BİR ANALİZ. Balıkesir Üniversitesi Sosyal Bilimler Enstitüsü Dergisi, 23(43), 199-228. https://doi.org/10.31795/baunsobed.691806

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