INTEREST RATE SENSITIVITY IN PARTICIPATION BANKS AND SAVING FINANCING COMPANIES: A PANEL DATA ANALYSIS OF TÜRKİYE

Ogün Baykuş

doi:10.46737/emid.2015084

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KATILIM BANKALARI VE TASARRUF FİNANSMAN ŞİRKETLERİNDE FAİZ DUYARLILIĞI: TÜRKİYE ÜZERİNE BİR PANEL VERİ ANALİZİ

Abstract

Bu çalışmanın amacı, Türkiye’de faaliyet gösteren tasarruf finansman şirketleri ve katılım bankaları arasındaki ikame-tamamlayıcılık ilişkisini, faiz oranlarının finansman hacmi duyarlılığı üzerinden incelemektir. Bu kapsamda 2021-2025 dönemine ait veriler kullanılarak katılım bankalarını ve tasarruf finansman şirketlerini kapsayan bir panel veri seti oluşturulmuştur. Çalışmada bağımlı değişken finansman hacmi, bağımsız değişken faiz, kontrol değişkenler ise kişi başına düşen gayri safi yurt içi hâsıla ve öz kaynaklar kullanılmıştır. Faiz oranlarının kurumlara özgü etkilerini belirlemek için, faiz oranları ve kurum türü kukla değişkeni arasında etkileşim terimi oluşturulmuştur. Analizde statik panel veri analizi yöntemleri kullanılmıştır. Elde edilen bulgular, faiz oranlarının finansman hacmi üzerindeki etkisinin kurumlara göre anlamlı bir biçimde farklılaştığını ortaya koymaktadır. Yani faiz oranları katılım bankalarının finansman hacmi üzerinde negatif ve anlamlı bir etkiye sahipken, tasarruf finansman şirketlerinde söz konusu etkinin istatistiksel olarak anlamlı olmadığı görülmüştür. Sonuç olarak, çalışmada tasarruf finansman şirketlerinin faiz oranı şokların karşı katılım bankalarına göre daha dirençli bir yapı sergileyebileceği ve finansal sistem içinde alternatif kurumlar olarak değerlendirilebileceği söylenebilir.

Keywords

Finansal Hizmetler, Katılım Bankacılığı, Tasarruf Finansman Şirketleri

INTEREST RATE SENSITIVITY IN PARTICIPATION BANKS AND SAVING FINANCING COMPANIES: A PANEL DATA ANALYSIS OF TÜRKİYE

Abstract

The objective of this study is to examine the substitutive and/or complementary relationship between saving financing companies and participation banks operating in Türkiye, through the sensitivity of these institutions’ financing volumes to interest rates. To this end, a panel dataset covering participation banks and saving financing companies was created using data from the 2021–2025 period. In this study, the dependent variable was financing volume, the independent variable was interest rate, and the control variables were gross domestic product per capita and equity. To determine the institution-specific effects of interest rates, an interaction term was included between interest rates and the institution type dummy variable. In the analysis, static panel data analysis methods were used. The findings reveal that the effect of interest rates on financing volume differs significantly across institutions. Therefore, while interest rates have a negative and significant effect on the financing volume of participation banks, this effect is not statistically significant for saving financing companies. In conclusion, the study suggests that saving financing companies are more resilient to interest rate shocks than participation banks and can be regarded as alternative institutions within the financial system.

Keywords

Financial Services, Participation Banks, Saving Financing Companies

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Details

Primary Language

English

Subjects

Financial Markets and Institutions

Journal Section

Research Article

Authors

Ogün Baykuş ^*
0000-0003-4905-4715
Türkiye

Publication Date

October 29, 2026

Submission Date

August 10, 2026

Acceptance Date

October 17, 2026

Published in Issue

Year 2026 Volume: 9 Number: Prof. Dr. İlker Parasız Özel Sayısı

DOI

https://doi.org/10.46737/emid.2015084

IZ

https://izlik.org/JA53GZ64EH

APA

Baykuş, O. (2026). INTEREST RATE SENSITIVITY IN PARTICIPATION BANKS AND SAVING FINANCING COMPANIES: A PANEL DATA ANALYSIS OF TÜRKİYE. Ekonomi Maliye İşletme Dergisi, 9(Prof. Dr. İlker Parasız Özel Sayısı), 57-74. https://doi.org/10.46737/emid.2015084

AMA

1.Baykuş O. INTEREST RATE SENSITIVITY IN PARTICIPATION BANKS AND SAVING FINANCING COMPANIES: A PANEL DATA ANALYSIS OF TÜRKİYE. Ekonomi Maliye İşletme Dergisi. 2026;9(Prof. Dr. İlker Parasız Özel Sayısı):57-74. doi:10.46737/emid.2015084

Chicago

Baykuş, Ogün. 2026. “INTEREST RATE SENSITIVITY IN PARTICIPATION BANKS AND SAVING FINANCING COMPANIES: A PANEL DATA ANALYSIS OF TÜRKİYE”. Ekonomi Maliye İşletme Dergisi 9 (Prof. Dr. İlker Parasız Özel Sayısı): 57-74. https://doi.org/10.46737/emid.2015084.

EndNote

Baykuş O (October 1, 2026) INTEREST RATE SENSITIVITY IN PARTICIPATION BANKS AND SAVING FINANCING COMPANIES: A PANEL DATA ANALYSIS OF TÜRKİYE. Ekonomi Maliye İşletme Dergisi 9 Prof. Dr. İlker Parasız Özel Sayısı 57–74.

IEEE

[1]O. Baykuş, “INTEREST RATE SENSITIVITY IN PARTICIPATION BANKS AND SAVING FINANCING COMPANIES: A PANEL DATA ANALYSIS OF TÜRKİYE”, Ekonomi Maliye İşletme Dergisi, vol. 9, no. Prof. Dr. İlker Parasız Özel Sayısı, pp. 57–74, Oct. 2026, doi: 10.46737/emid.2015084.

ISNAD

Baykuş, Ogün. “INTEREST RATE SENSITIVITY IN PARTICIPATION BANKS AND SAVING FINANCING COMPANIES: A PANEL DATA ANALYSIS OF TÜRKİYE”. Ekonomi Maliye İşletme Dergisi 9/Prof. Dr. İlker Parasız Özel Sayısı (October 1, 2026): 57-74. https://doi.org/10.46737/emid.2015084.

JAMA

1.Baykuş O. INTEREST RATE SENSITIVITY IN PARTICIPATION BANKS AND SAVING FINANCING COMPANIES: A PANEL DATA ANALYSIS OF TÜRKİYE. Ekonomi Maliye İşletme Dergisi. 2026;9:57–74.

MLA

Baykuş, Ogün. “INTEREST RATE SENSITIVITY IN PARTICIPATION BANKS AND SAVING FINANCING COMPANIES: A PANEL DATA ANALYSIS OF TÜRKİYE”. Ekonomi Maliye İşletme Dergisi, vol. 9, no. Prof. Dr. İlker Parasız Özel Sayısı, Oct. 2026, pp. 57-74, doi:10.46737/emid.2015084.

Vancouver

1.Ogün Baykuş. INTEREST RATE SENSITIVITY IN PARTICIPATION BANKS AND SAVING FINANCING COMPANIES: A PANEL DATA ANALYSIS OF TÜRKİYE. Ekonomi Maliye İşletme Dergisi. 2026 Oct. 1;9(Prof. Dr. İlker Parasız Özel Sayısı):57-74. doi:10.46737/emid.2015084

KATILIM BANKALARI VE TASARRUF FİNANSMAN ŞİRKETLERİNDE FAİZ DUYARLILIĞI: TÜRKİYE ÜZERİNE BİR PANEL VERİ ANALİZİ

Abstract

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INTEREST RATE SENSITIVITY IN PARTICIPATION BANKS AND SAVING FINANCING COMPANIES: A PANEL DATA ANALYSIS OF TÜRKİYE

Abstract

Keywords

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