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Türk Bankacılık Sisteminde Karlılık Üzerinde Etkili Olan Faktörlerin Belirlenmesi

Year 2021, Volume: 5 Issue: 11, 20 - 48, 30.06.2021

Ahmet Ulusoy , Dr.serkan Demirel

Abstract

Yaşanılan pandemi döneminden birçok ticari işletme gibi bankalar da etkilenmiştir. Bu durum kompleks bir yapıya sahip olan bankaların işleyiş yapısında da birtakım değişiklikler ortaya çıkarmıştır. İşleyiş yapısındaki değişiklikler de kârlılık oranlarını etkilemiştir. Bu çalışmada pandemi öncesi (2019) ve pandemi dönemi (2020) Türkiye’de faaliyet gösteren yirmi bankanın karlılıkları üzerinde etkili olan faktörler çoklu regresyon analizi kullanılarak ayrı ayrı analiz edilmiştir. Elde edilen ampirik sonuçlar pandemi öncesinde karlılık üzerinde etkili olan faktörlerin sermaye yeterliliği oranı, özkaynaklar ve toplam varlıklar olduğu tespit edilmiştir. Pandemi döneminde banka karlılıkları üzerinde sermaye yeterlilik oranı etkisinin devam ettiği, fakat özkaynak ve toplam varlıkların etkisinin azaldığı tespit edilmiştir. Sonuçta pandemi öncesi ve sonrasında banka kârlılıkları üzerine etki eden faktörlerin farklılaştığı görülmektedir.

Keywords

Banka Karlılığı Pandemi Çoklu Regresyon Analizi.

References

  • Aldasoro, I., Fender, I., Hardy, B., & Tarashev, N. (2020). Effects of Covid-19 on the Banking Sector: The Market's Assessment, BIS Bulletin No: 12.
  • Alp, A., Ban, Ü., Demirgüneş, H.N.K., & Kılıç, S. (2010). Türk Bankacılık Sektöründe Karlılığın İçsel Belirleyicileri. İMKB Dergisi, 12(46), 1-13.
  • Alper, D., & Anbar, A. (2011). Bank Specific and Macroeconomic Determinants of Commercial Bank Profitability: Empirical Evidence from Turkey. Business and Economics Research Journal, 2(2), 139-152.
  • Arabacı, H., & Yücel, D. (2020). COVID-19 Pandemisinin Türk Bankacılık Sektörü Üzerine Etkisi. Social Sciences Research Journal, 9(3), 196-208.
  • Ari, A., Chen, S. & Ratnovski, L. (2020). COVID-19 and Non-Performing Loans: Lessons from Past Crises. Erişim Tarihi: 09.05.2021, https://ssrn.com/abstract=3632272
  • Babalola, Y. A. (2012). The Determinants of bank’s Profitability in Nigeria. Journal of Money, Investment and Banking, 24(1), 6-16.
  • Barra, C., & Zotti, R. (2018). Financial Stability as a Public Policy Goal to Increase Local Economic Development: an Empirical Investigation from Italian Labour Market Areas (No. 154). CELPE-Centre of Labour Economics and Economic Policy, University of Salerno, Italy.
  • Beck, T., Levine, R., & Loayza, N. (2000). Finance and the Sources of Growth. Journal of Financial Economics, 58(1–2), 261– 300.
  • Borio, C. (2020). The Prudential Response to the Covid-19 Crisis. Erişim Tarihi: 09.05.2021, https://www.bis.org/speeches/sp200630a.htm.
  • Borroni, M., & Rossi, S. (2019). Bank profitability: Measures and Determinants. In Banking in Europe (pp. 23-53). Palgrave Macmillan Studies in Banking and Financial Institutions.Palgrave Pivot, Cham.
  • Bumin, M. (2009). Türk Bankacılık Sektörünün Kârlılık Analizi: 2002-2008. Maliye ve Finans Yazıları, 1(84), 39-60.
  • Chaudhry, M., Chatrath A., & Kamath, R. (1995). Determinants of Bank Profitability. American Journal of Business. 10(1), 41-46.
  • Cheng, G. & Mevis, D. (2019). What Happened to Profitability? Shocks, Challenges, and Perspectives for Euro Area Banks. The European Journal of Finance, 25(1), 54-78.
  • Claessens, S., Coleman, N., & Donnelly, M. (2018). Low-For-Long İnterest Rates and Banks’ İnterest Margins and Profitability: Cross-Country Evidence. Journal of Financial Intermediation, 35(1), 1-16.
  • Del Giudice, M., Campanella, F., Dezi, L., & Al-Mashari, M. (2016).The Bank of Things: An Empirical İnvestigation on the Profitability of the Financial Services of the Future. Business Process Management Journal, 22(2), 324-340.
  • Demirgüç-Kunt, A., Peria, M.S.M., & Tressel, T. (2020). The Global Financial Crisis and the Capital Structure of Firms: Was the Impact More Severe among SMEs and Non-Listed Firms?. Journal of Corporate Finance, 60, 101–514.
  • DeYoung, R., & Rice, T. (2004). Noninterest Income and Financial Performance at US Commercial Banks. The Financial Review, 39(1), 101–127.
  • Dietrich, A., & Wanzenried, G. (2011). Determinants of Bank Profitability before and during the Crisis: Evidence from Switzerland. Journal of International Financial Markets Institutions and Money, 21(3), 307–327.
  • Durguti, E., Zhuja, D., & Arifi, E. (2014). An Examination of the Net Interest Margin as Determinants of Banks’ Profitability in the Kosovo Banking System. European Academic Research, 2(5), 6350-6364.
  • Eygü, H. & Kılınç, A. (2020). OECD Ülkelerinin Lojistik Performans Endekslerinin Ridge Regresyon Analizi İle Araştırılması. Trakya Üniversitesi Sosyal Bilimler Dergisi, 22(2), 890-910.
  • Eygü, H., Aksu, H., & Moavia, M.A.U. (2016). Inflation Prediction and Inflation Volatility for Turkey. Mediterranean Journal of Social Sciences, 7(1), 361.
  • Firtescu, B.N., Terinte, P.A., Roman, A., & Anton, S.G. (2019). Corporate Governance and Bank Profitability: An Empirical Assessment for Emerging Europe. Transformations in Business & Economics, 18(2), 531-552.
  • Goodell, J. W. (2020). COVID-19 and Finance: Agendas for Future Research. Finance Research Letters, 35, 101512.
  • Graff, M. (2003). Financial Development and Economic Growth in Corporatist and Liberal Market Economies. Emerging Markets Finance and Trade, 39(2), 47–69.
  • Guerrieri, V., Lorenzoni, G., Straub, L., & Werning, I. (2020). Macroeconomic Implications of COVID-19: Can Negative Supply Shocks Cause Demand Shortages? (No. w26918). National Bureau of Economic Research.
  • Ichsan, R. N., Suparmin, S., Yusuf, M., Ismal, R., & Sitompul, S. (2021). Determinant of Sharia Bank's Financial Performance during the Covid-19 Pandemic. Budapest International Research and Critics Institute (BIRCI-Journal): Humanities and Social Sciences, 4(1), 298-309.
  • Kakilli Acaravcı, S. & Çalım, A.E. (2013). Turkish Banking Sector’s Profitability Factors. International Journal of Economics and Financial Issues, 3(1), 27-41.
  • Kartal, M.T. (2020). Türk Bankacılık Sektöründe Kovid-19 Döneminde Alınan Tedbirler Bağlamında Aktif Rasyosu Düzenlemesinin Muhtemel Etkileri: Mevduat Bankaları Üzerine Bir İnceleme. Bankacılık ve Sermaye Piyasası Araştırmaları Dergisi, 4(10), 1-18.
  • Kumbirai, M., & Webb, R. (2010). A Financial Ratio Analysis of Commercial Bank Performance in South Africa. African Review of Economics and Finance, 2(1), 30-53.
  • Lagoarde-Segot, T., & Leoni, P. L. (2013). Pandemics of the Poor and Banking Stability. Journal of Banking & Finance, 37(11), 4574–4583.
  • Li, X., Feng, H., Zhao, S., & Carter, D. A. (2021). The effect of revenue diversification on bank profitability and risk during the COVID-19 pandemic. Finance Research Letters, 101957.
  • Martinho, R., Oliveria, J., & Oliveria, V. (2017). Bank Profitability and Macroeconomic Factors. Financial Stability Papers, Banco de Portugal, Lisbon, August, 2183-4059.
  • Menicucci, E., & Paolucci, G. (2016). The Determinants of Bank Profitability: Empirical Evidence from European Banking Sector. Journal of Financial Reporting and Accounting, 14(1), 86–115.
  • Olson, D., & Zoubi, T. (2011). Efficiency and Bank Profitability in MENA Countries. Emerging Markets Review, 12(2), 94–110.
  • Ongole, V. & Kusa, G. (2013). Determinants of the Financial Performance of Commercial Banks in Kenya. International Journal of Economics and Financial Issues, 3(1), 237–252.
  • Pacini, K., Berg, D., Tischer, T. & Johnson, J. (2017). An Empirical Investigation of Macroeconomic Factors on Firm Performance in the United Kingdom. SSRN 3013944.
  • PwC, (2020). Implications of COVID-19 Crisis for the Turkish Banking Sector. Erişim Tarihi: 09.05.2021, https://www.pwc.com.tr/covid-19-banking-sector
  • Rossi, S., Borroni, M., Lippi, A., & Piva, M. (2018). Determinants of Bank Profitability in the Euro Area: What Has Changed During the Recent Financial Crisis?. International Business Research, 11(5), 18-27.
  • Sarıtaş, H., & Saray, C. (2012).Türk Bankacılık Sektörünün Karlılık Performansının Analizi. Pamukkale Üniversitesi Sosyal Bilimler Enstitüsü Dergisi, 11, 23-37.
  • Saunders, A. (2000). Financial Institutions Management: A Modern Perspective. Boston: Irwin McGraw-Hill.
  • Schmieder, Ch., Sobrun, J., Takáts, E., & Lewrick U. (2020). Releasing Bank Buffers to Cushion the Crisis – A Quantitative Assessment. Erişim Tarihi: 08.05.2021, https://www.bis.org/publ/bisbull11.pdf
  • Seelye, N. (2018). An Examination of the Predictive Capacity of Bank Capital Ratios Compared to Other Ratio Analysis and Scores. (Doctoral dissertation). Anderson University, South Carolina.
  • Tan, Y. (2016). The Impacts of Risk and Competition on Bank Profitability in China. Journal of International Financial Markets, Institutions & Money, 40, 85–110.
  • Teker, S., Teker, D., & Kent, O. (2011). Measuring Commercial Banks’ Performances in Turkey: A Proposed Model. Journal of Applied Finance and Banking, 1(3), 97-112.
  • Thornton, J. & di Tomasso, C. (2020). The Effect of Non-Performing Loans on Credit Expansion: Do Capital and Profitability Matter? Evidence from European Banks. International Journal of Finance & Economics, 8, 1-18.
  • WHO, (2021). WHO Coronavirus (COVID-19) Dashboard. Erişim Tarihi: 08.05.2021, https://covid19.who.int/.
  • Yanıkkaya, H., Gümüş, N., & Pabuçcu, Y. U. (2018). How Profitability Differs between Conventional and Islamic Banks: A Dynamic Panel Data Approach. Pacific Basin Finance Journal, 48(2018), 99–111.
  • Yetiz, F. (2021). COVID-19 Pandemi Sürecinin Türk Bankacılık Sektörü Çalışanlarına ve Müşterilerine Etkileri: Swot Analizi. Avrupa Bilim ve Teknoloji Dergisi, 22, 109-117.
  • Yıldırım, O. (2008). Türk Bankacılık Sektöründe Kârlılığın Belirleyicileri. (Doktora Tezi). Ankara Üniversitesi Sosyal Bilimler Enstitüsü İşletme Anabilim Dalı, Ankara.

Year 2021, Volume: 5 Issue: 11, 20 - 48, 30.06.2021

Ahmet Ulusoy , Dr.serkan Demirel

Abstract

References

  • Aldasoro, I., Fender, I., Hardy, B., & Tarashev, N. (2020). Effects of Covid-19 on the Banking Sector: The Market's Assessment, BIS Bulletin No: 12.
  • Alp, A., Ban, Ü., Demirgüneş, H.N.K., & Kılıç, S. (2010). Türk Bankacılık Sektöründe Karlılığın İçsel Belirleyicileri. İMKB Dergisi, 12(46), 1-13.
  • Alper, D., & Anbar, A. (2011). Bank Specific and Macroeconomic Determinants of Commercial Bank Profitability: Empirical Evidence from Turkey. Business and Economics Research Journal, 2(2), 139-152.
  • Arabacı, H., & Yücel, D. (2020). COVID-19 Pandemisinin Türk Bankacılık Sektörü Üzerine Etkisi. Social Sciences Research Journal, 9(3), 196-208.
  • Ari, A., Chen, S. & Ratnovski, L. (2020). COVID-19 and Non-Performing Loans: Lessons from Past Crises. Erişim Tarihi: 09.05.2021, https://ssrn.com/abstract=3632272
  • Babalola, Y. A. (2012). The Determinants of bank’s Profitability in Nigeria. Journal of Money, Investment and Banking, 24(1), 6-16.
  • Barra, C., & Zotti, R. (2018). Financial Stability as a Public Policy Goal to Increase Local Economic Development: an Empirical Investigation from Italian Labour Market Areas (No. 154). CELPE-Centre of Labour Economics and Economic Policy, University of Salerno, Italy.
  • Beck, T., Levine, R., & Loayza, N. (2000). Finance and the Sources of Growth. Journal of Financial Economics, 58(1–2), 261– 300.
  • Borio, C. (2020). The Prudential Response to the Covid-19 Crisis. Erişim Tarihi: 09.05.2021, https://www.bis.org/speeches/sp200630a.htm.
  • Borroni, M., & Rossi, S. (2019). Bank profitability: Measures and Determinants. In Banking in Europe (pp. 23-53). Palgrave Macmillan Studies in Banking and Financial Institutions.Palgrave Pivot, Cham.
  • Bumin, M. (2009). Türk Bankacılık Sektörünün Kârlılık Analizi: 2002-2008. Maliye ve Finans Yazıları, 1(84), 39-60.
  • Chaudhry, M., Chatrath A., & Kamath, R. (1995). Determinants of Bank Profitability. American Journal of Business. 10(1), 41-46.
  • Cheng, G. & Mevis, D. (2019). What Happened to Profitability? Shocks, Challenges, and Perspectives for Euro Area Banks. The European Journal of Finance, 25(1), 54-78.
  • Claessens, S., Coleman, N., & Donnelly, M. (2018). Low-For-Long İnterest Rates and Banks’ İnterest Margins and Profitability: Cross-Country Evidence. Journal of Financial Intermediation, 35(1), 1-16.
  • Del Giudice, M., Campanella, F., Dezi, L., & Al-Mashari, M. (2016).The Bank of Things: An Empirical İnvestigation on the Profitability of the Financial Services of the Future. Business Process Management Journal, 22(2), 324-340.
  • Demirgüç-Kunt, A., Peria, M.S.M., & Tressel, T. (2020). The Global Financial Crisis and the Capital Structure of Firms: Was the Impact More Severe among SMEs and Non-Listed Firms?. Journal of Corporate Finance, 60, 101–514.
  • DeYoung, R., & Rice, T. (2004). Noninterest Income and Financial Performance at US Commercial Banks. The Financial Review, 39(1), 101–127.
  • Dietrich, A., & Wanzenried, G. (2011). Determinants of Bank Profitability before and during the Crisis: Evidence from Switzerland. Journal of International Financial Markets Institutions and Money, 21(3), 307–327.
  • Durguti, E., Zhuja, D., & Arifi, E. (2014). An Examination of the Net Interest Margin as Determinants of Banks’ Profitability in the Kosovo Banking System. European Academic Research, 2(5), 6350-6364.
  • Eygü, H. & Kılınç, A. (2020). OECD Ülkelerinin Lojistik Performans Endekslerinin Ridge Regresyon Analizi İle Araştırılması. Trakya Üniversitesi Sosyal Bilimler Dergisi, 22(2), 890-910.
  • Eygü, H., Aksu, H., & Moavia, M.A.U. (2016). Inflation Prediction and Inflation Volatility for Turkey. Mediterranean Journal of Social Sciences, 7(1), 361.
  • Firtescu, B.N., Terinte, P.A., Roman, A., & Anton, S.G. (2019). Corporate Governance and Bank Profitability: An Empirical Assessment for Emerging Europe. Transformations in Business & Economics, 18(2), 531-552.
  • Goodell, J. W. (2020). COVID-19 and Finance: Agendas for Future Research. Finance Research Letters, 35, 101512.
  • Graff, M. (2003). Financial Development and Economic Growth in Corporatist and Liberal Market Economies. Emerging Markets Finance and Trade, 39(2), 47–69.
  • Guerrieri, V., Lorenzoni, G., Straub, L., & Werning, I. (2020). Macroeconomic Implications of COVID-19: Can Negative Supply Shocks Cause Demand Shortages? (No. w26918). National Bureau of Economic Research.
  • Ichsan, R. N., Suparmin, S., Yusuf, M., Ismal, R., & Sitompul, S. (2021). Determinant of Sharia Bank's Financial Performance during the Covid-19 Pandemic. Budapest International Research and Critics Institute (BIRCI-Journal): Humanities and Social Sciences, 4(1), 298-309.
  • Kakilli Acaravcı, S. & Çalım, A.E. (2013). Turkish Banking Sector’s Profitability Factors. International Journal of Economics and Financial Issues, 3(1), 27-41.
  • Kartal, M.T. (2020). Türk Bankacılık Sektöründe Kovid-19 Döneminde Alınan Tedbirler Bağlamında Aktif Rasyosu Düzenlemesinin Muhtemel Etkileri: Mevduat Bankaları Üzerine Bir İnceleme. Bankacılık ve Sermaye Piyasası Araştırmaları Dergisi, 4(10), 1-18.
  • Kumbirai, M., & Webb, R. (2010). A Financial Ratio Analysis of Commercial Bank Performance in South Africa. African Review of Economics and Finance, 2(1), 30-53.
  • Lagoarde-Segot, T., & Leoni, P. L. (2013). Pandemics of the Poor and Banking Stability. Journal of Banking & Finance, 37(11), 4574–4583.
  • Li, X., Feng, H., Zhao, S., & Carter, D. A. (2021). The effect of revenue diversification on bank profitability and risk during the COVID-19 pandemic. Finance Research Letters, 101957.
  • Martinho, R., Oliveria, J., & Oliveria, V. (2017). Bank Profitability and Macroeconomic Factors. Financial Stability Papers, Banco de Portugal, Lisbon, August, 2183-4059.
  • Menicucci, E., & Paolucci, G. (2016). The Determinants of Bank Profitability: Empirical Evidence from European Banking Sector. Journal of Financial Reporting and Accounting, 14(1), 86–115.
  • Olson, D., & Zoubi, T. (2011). Efficiency and Bank Profitability in MENA Countries. Emerging Markets Review, 12(2), 94–110.
  • Ongole, V. & Kusa, G. (2013). Determinants of the Financial Performance of Commercial Banks in Kenya. International Journal of Economics and Financial Issues, 3(1), 237–252.
  • Pacini, K., Berg, D., Tischer, T. & Johnson, J. (2017). An Empirical Investigation of Macroeconomic Factors on Firm Performance in the United Kingdom. SSRN 3013944.
  • PwC, (2020). Implications of COVID-19 Crisis for the Turkish Banking Sector. Erişim Tarihi: 09.05.2021, https://www.pwc.com.tr/covid-19-banking-sector
  • Rossi, S., Borroni, M., Lippi, A., & Piva, M. (2018). Determinants of Bank Profitability in the Euro Area: What Has Changed During the Recent Financial Crisis?. International Business Research, 11(5), 18-27.
  • Sarıtaş, H., & Saray, C. (2012).Türk Bankacılık Sektörünün Karlılık Performansının Analizi. Pamukkale Üniversitesi Sosyal Bilimler Enstitüsü Dergisi, 11, 23-37.
  • Saunders, A. (2000). Financial Institutions Management: A Modern Perspective. Boston: Irwin McGraw-Hill.
  • Schmieder, Ch., Sobrun, J., Takáts, E., & Lewrick U. (2020). Releasing Bank Buffers to Cushion the Crisis – A Quantitative Assessment. Erişim Tarihi: 08.05.2021, https://www.bis.org/publ/bisbull11.pdf
  • Seelye, N. (2018). An Examination of the Predictive Capacity of Bank Capital Ratios Compared to Other Ratio Analysis and Scores. (Doctoral dissertation). Anderson University, South Carolina.
  • Tan, Y. (2016). The Impacts of Risk and Competition on Bank Profitability in China. Journal of International Financial Markets, Institutions & Money, 40, 85–110.
  • Teker, S., Teker, D., & Kent, O. (2011). Measuring Commercial Banks’ Performances in Turkey: A Proposed Model. Journal of Applied Finance and Banking, 1(3), 97-112.
  • Thornton, J. & di Tomasso, C. (2020). The Effect of Non-Performing Loans on Credit Expansion: Do Capital and Profitability Matter? Evidence from European Banks. International Journal of Finance & Economics, 8, 1-18.
  • WHO, (2021). WHO Coronavirus (COVID-19) Dashboard. Erişim Tarihi: 08.05.2021, https://covid19.who.int/.
  • Yanıkkaya, H., Gümüş, N., & Pabuçcu, Y. U. (2018). How Profitability Differs between Conventional and Islamic Banks: A Dynamic Panel Data Approach. Pacific Basin Finance Journal, 48(2018), 99–111.
  • Yetiz, F. (2021). COVID-19 Pandemi Sürecinin Türk Bankacılık Sektörü Çalışanlarına ve Müşterilerine Etkileri: Swot Analizi. Avrupa Bilim ve Teknoloji Dergisi, 22, 109-117.
  • Yıldırım, O. (2008). Türk Bankacılık Sektöründe Kârlılığın Belirleyicileri. (Doktora Tezi). Ankara Üniversitesi Sosyal Bilimler Enstitüsü İşletme Anabilim Dalı, Ankara.
There are 49 citations in total.

Details

Primary Language Turkish
Subjects Business Administration
Journal Section 5.Cilt 11.Sayı
Authors

Ahmet Ulusoy 0000-0001-8407-2770

Dr.serkan Demirel 0000-0002-7285-1504

Publication Date June 30, 2021
Published in Issue Year 2021 Volume: 5 Issue: 11

Cite

APA Ulusoy, A., & Demirel, D. (2021). Türk Bankacılık Sisteminde Karlılık Üzerinde Etkili Olan Faktörlerin Belirlenmesi. Bankacılık Ve Sermaye Piyasası Araştırmaları Dergisi, 5(11), 20-48.
AMA Ulusoy A, Demirel D. Türk Bankacılık Sisteminde Karlılık Üzerinde Etkili Olan Faktörlerin Belirlenmesi. Bankacılık ve Sermaye Piyasası Araştırmaları Dergisi. June 2021;5(11):20-48.
Chicago Ulusoy, Ahmet, and Dr.serkan Demirel. “Türk Bankacılık Sisteminde Karlılık Üzerinde Etkili Olan Faktörlerin Belirlenmesi”. Bankacılık Ve Sermaye Piyasası Araştırmaları Dergisi 5, no. 11 (June 2021): 20-48.
EndNote Ulusoy A, Demirel D (June 1, 2021) Türk Bankacılık Sisteminde Karlılık Üzerinde Etkili Olan Faktörlerin Belirlenmesi. Bankacılık ve Sermaye Piyasası Araştırmaları Dergisi 5 11 20–48.
IEEE A. Ulusoy and D. Demirel, “Türk Bankacılık Sisteminde Karlılık Üzerinde Etkili Olan Faktörlerin Belirlenmesi”, Bankacılık ve Sermaye Piyasası Araştırmaları Dergisi, vol. 5, no. 11, pp. 20–48, 2021.
ISNAD Ulusoy, Ahmet - Demirel, Dr.serkan. “Türk Bankacılık Sisteminde Karlılık Üzerinde Etkili Olan Faktörlerin Belirlenmesi”. Bankacılık ve Sermaye Piyasası Araştırmaları Dergisi 5/11 (June 2021), 20-48.
JAMA Ulusoy A, Demirel D. Türk Bankacılık Sisteminde Karlılık Üzerinde Etkili Olan Faktörlerin Belirlenmesi. Bankacılık ve Sermaye Piyasası Araştırmaları Dergisi. 2021;5:20–48.
MLA Ulusoy, Ahmet and Dr.serkan Demirel. “Türk Bankacılık Sisteminde Karlılık Üzerinde Etkili Olan Faktörlerin Belirlenmesi”. Bankacılık Ve Sermaye Piyasası Araştırmaları Dergisi, vol. 5, no. 11, 2021, pp. 20-48.
Vancouver Ulusoy A, Demirel D. Türk Bankacılık Sisteminde Karlılık Üzerinde Etkili Olan Faktörlerin Belirlenmesi. Bankacılık ve Sermaye Piyasası Araştırmaları Dergisi. 2021;5(11):20-48.