Failure of banks to manage risks properly or to take timely measures against risks may lead to financial failures. From this context, the use of derivative instruments designed for hedging purposes is crucial for banks. This study examines whether the use of derivatives contributes to the financial stability of banks by measuring the effect of derivatives on the Z-Score, a risk indicator. The analysis conducted using the Generalized Method of Moments for 37 banks in our banking system over 2010-2022 reveals that the volume of derivatives has a significant negative impact on the Z-Score.
Bankaların riskleri doğru yönetememeleri veya risklere zamanında önlem alamamaları, finansal başarısızlıklara neden olabilmektedir. Bu bağlamda, riskten korunma amacıyla tasarlanmış türev araçların kullanımı, bankalar için önem arz etmektedir. Bu çalışmada türev araç kullanımının, bir risk göstergesi olan Z-Skoruna etkisi ölçülerek bankaların finansal istikrarına katkı sunup sunmadığı incelenmektedir. Bankacılık sistemimizde yer alan 37 bankaya ilişkin 2010-2022 dönemi için Genelleştirilmiş Momentler Modeli ile yapılan analizler, toplam finansal türev araç hacminin Z-Skorunu anlamlı bir şekilde negatif yönde etkilediğini ortaya koymaktadır.
Primary Language | Turkish |
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Subjects | Financial Accounting |
Journal Section | MAIN SECTION |
Authors | |
Early Pub Date | December 29, 2024 |
Publication Date | December 31, 2024 |
Submission Date | May 30, 2024 |
Acceptance Date | December 26, 2024 |
Published in Issue | Year 2024 Volume: 26 Issue: 4 |
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