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Ekonomik ve Finansal Ülke Risklerin Banka Karlılığına Etkisi

Year 2019, 18. UİK Özel Sayısı, 890 - 916, 31.08.2019
https://doi.org/10.26466/opus.601090

Abstract

Bankalar finansal piyasalarda fon aktarım işlevi sağlarlar. Bankalar, fon sağlayanlardan mevduat yoluyla elde ettikleri kaynakları kredi olarak fon talep edenlere aktarırlar. Bankalar bu fonksiyonlarını gerçekleştirirken birçok etken, risk ve belirleyiciyle karşılaşmaktadırlar. Banka karlılıklarını, banka finansal ve organizasyonel yapısından kaynaklı içsel faktörler, ekonomik, sosyal, siyasal, hukuksal etkenlerden kaynaklı dışsal faktörler etkileyebilir. Bu çalışmada, 2001-2016 dönemleri arasında ve 44 ülke örnekleminde, banka karlılıklarını etkileyen ekonomik ve finansal ülke riskleri araştırılmıştır. Panel veri analizi yapılan çalışmada, döviz kuru istikrarı, borç servisi/ihracat ve bütçe dengesi risklerinin banka karlılıklarını negatif etkilediği, buna karşın cari denge/GSYİH riskinin banka karlılığını pozitif etkilediği görülmüştür. Risk faktörlerinin etkisi bazı değişkenlerde pozitif diğerlerinde ise negative görülmüştür. Bu durum, örneklem ülkelerindeki olumlu ya da olumsuz ekonomik ve finansal koşullardan ortaya çıkmış olabilir. Ortaya çıkan sonuçlar ekonomik ve finansal ülke risklerinin banka karlılıklarını etkilediklerini ve banka yönetimlerinin içsel risk faktörlerinin yanında dışsal risk faktörlerini de risk yönetim süreçlerine dahil etmeleri gerektiğini göstermektedir.

References

  • Aon Risk Solutions. (2017). Global risk management survey.
  • Athanasoglou, P. P., Brissimis, S. N., ve Delis, M. D. (2008). Bank-specific, industry-specific and macroeconomic determinants of bank profitability. Journal of International Financial Markets, Institutions and Money, 18(2), 121-136.
  • Ayaydın, H., Pala, F. ve Barut, A. (2016). Ülke riskinin hisse senedi getirisine etkisi: Ampirik bir analiz. Küresel İktisat ve İşletme Çalışmaları Dergisi, 5(10), 66-75.
  • Bikker, J. A. ve Vervliet, T. M. (2017). Bank profitability and risk-taking under low interest rates. International Journal of Finance & Economics, 23(1), 3-18.
  • Delis, M. D. ve Kouretas, G. P. (2011). Interest rates and bank risk-taking. Journal of Banking&Finance, 35(4), 840-855.
  • Demirgüç-Kunt, A. ve Huizinga, H. (1999), Determinants of commercial bank interest margins and profitability: Some international evidence, The World Bank Economic Review, 13(2), 379-408.
  • Denizli, K. G., Koç, S. ve Şenol, Z. (2018). Bankacılık değişkenleri ile performans göstergeleri arasındaki ilişkinin panel veri yönetimi ile analizi: Türkiye örneği (2005-2017). Sosyal Bilimler Dergisi, 5(30), 565-579.
  • Erb, C. B., Harvey, C. R. ve Viskanta, T. E. (1996). Political risk, economic risk and financial risk. Financial Analysts Journal, 52(6), 29-46.
  • Girard, E. (2018). How does country risk matter?. Journal of Global Business & Technology, 14(1), 53-67.
  • Güzel, A. ve İltaş, Y. (2018). Ticari bankalarda karlılığın belirleyicileri: Türkiye örneği (2003-2016). Ankara Hacı Bayram Veli Üni-versitesi İİBF Dergisi, 20(3), 505-534.
  • Hassan, M. K., Maroney, N. C., El-Sady, H. M. ve Telfah, A. (2003). Country risk and stock market volatility, predictability and diversification in the Middle East and Africa. Economic Sys-tems, 27(1), 63-82.
  • Kara, E. ve Karabıyık, L. (2015). The effect of country risk on stock prices: an application in Borsa Istanbul. Süleyman Demirel Üniversitesi İİBF Dergisi, 20(1), 225-239.
  • Karaca, S., ve Uğur, A. (2008), Türkiye'deki bankacılık sektöründe risk ve karlılık analizi. World of Accounting Science, 10(3), 123-134.
  • King, R. G. ve Levine, R. (1993). Finance and growth: Schumpeter might be right. The Quarterly Journal of Economics, 108(3), 717-737.
  • Küçükbay, F. (2017), Banka karlılığını etkileyen faktörler: Avrupa Birliği bankaları ve Türk bankaları arasında bir karşılaştırma. Yönetim ve Ekonomi, 24(1), 137-149.
  • Lee, C. C., Yang, S. J. ve Chang, C. H. (2014). Non-interest income, profitability and risk in banking industry: A cross-country analysis. North American Journal of Economic and Finance, 27, 48-67.
  • Michalopoulos, G. ve Tsermenidis, K. (2018). Country risk on the bank borrowing cost dispersion within the Euro Area during the financial and debt crises. International Journal of Economics and Business Administration, 6(4), 76-92.
  • Pan, C-I., Chang, T. ve Wolde-Rufael, Y. (2015). Military spending and economic growth in the middle east countries: Bootstrap panel causality test. Defence and Peace Economics, 26(4), 443-456.
  • Patrick, H. T. (1966). Financial development and economics growth in underdevelopment countries. Economic Development & Cultural Change, 14(2), 174-189
  • Staikouras, C. K. ve Wood, G. E. (2004), The determinants of Euro-pean bank profitability. International Business&Economics Research Journal, 3(6), 57-68.
  • Sufian, F. (2011), Profitability of the Korean banking sector: Panel evidence on bank-specific and macroeconomic determinants. Journal of Economics and Management, 7(1), 43-72.
  • Tan, Y. (2016), The impact of risk and competition on bank prifitabi-lity in China. Journal of International Financial Markets, Institutions&Money, 40, 85-110.
  • Topak, M. S. ve Talu, N. H. (2016), Internal determinents of bank profitability: Evidence from Turkish banking sector. International Journal of Economic Pespectives, 10(1), 37-49.
  • Yerdelen-Tatoğlu, F. (2013), Panel veri ekonometrisi: Stata Uygulamalı. İstanbul: Beta Basım Yayım.
  • Zaremba, A. (2018), Country risk and expected return across global equity markets. Journal of Economic and Finance, 68(4), 374-398.
  • https://databank.worldbank.org/data/source/global-financial-development, 04.01.2019.
  • https://www.prsgroup.com/explore-our-products/international-country-risk-guide/, 06.08.2018.

Impact of Economic and Financial Country Risks on Bank Profitability

Year 2019, 18. UİK Özel Sayısı, 890 - 916, 31.08.2019
https://doi.org/10.26466/opus.601090

Abstract

Banks carry out the fund transfer function in financial markets. Banks transfer the funds obtained from deposits as loans to those fund that demanded by in need of funds. While performing these functions, banks face many factors, risks and determinants. The Bank's profitability can be influenced by the internal factors arising from the financial and organizational structure of the bank and by external factors arising from economic, social, political and legal factors. In this study, the economic and financial country risks affecting bank profitability were investigated between the years of 2001-2016 and in the sample of 44 countries. In the study conducted in the panel data analysis, it was seen that the exchange rate stability, debt service as of export and budget balance risks had a negative effect on the bank profitability, whereas the current account as of GDP risk had a positive effect on bank profitability. The effect of risk factors is positive in some variables and negative in others. This may have arisen from positive or negative economic and financial conditions in the sample countries. The results show that economic and financial country risks affect bank profitability and that bank management should include external risk factors in their risk management processes as well as internal risk factors.

References

  • Aon Risk Solutions. (2017). Global risk management survey.
  • Athanasoglou, P. P., Brissimis, S. N., ve Delis, M. D. (2008). Bank-specific, industry-specific and macroeconomic determinants of bank profitability. Journal of International Financial Markets, Institutions and Money, 18(2), 121-136.
  • Ayaydın, H., Pala, F. ve Barut, A. (2016). Ülke riskinin hisse senedi getirisine etkisi: Ampirik bir analiz. Küresel İktisat ve İşletme Çalışmaları Dergisi, 5(10), 66-75.
  • Bikker, J. A. ve Vervliet, T. M. (2017). Bank profitability and risk-taking under low interest rates. International Journal of Finance & Economics, 23(1), 3-18.
  • Delis, M. D. ve Kouretas, G. P. (2011). Interest rates and bank risk-taking. Journal of Banking&Finance, 35(4), 840-855.
  • Demirgüç-Kunt, A. ve Huizinga, H. (1999), Determinants of commercial bank interest margins and profitability: Some international evidence, The World Bank Economic Review, 13(2), 379-408.
  • Denizli, K. G., Koç, S. ve Şenol, Z. (2018). Bankacılık değişkenleri ile performans göstergeleri arasındaki ilişkinin panel veri yönetimi ile analizi: Türkiye örneği (2005-2017). Sosyal Bilimler Dergisi, 5(30), 565-579.
  • Erb, C. B., Harvey, C. R. ve Viskanta, T. E. (1996). Political risk, economic risk and financial risk. Financial Analysts Journal, 52(6), 29-46.
  • Girard, E. (2018). How does country risk matter?. Journal of Global Business & Technology, 14(1), 53-67.
  • Güzel, A. ve İltaş, Y. (2018). Ticari bankalarda karlılığın belirleyicileri: Türkiye örneği (2003-2016). Ankara Hacı Bayram Veli Üni-versitesi İİBF Dergisi, 20(3), 505-534.
  • Hassan, M. K., Maroney, N. C., El-Sady, H. M. ve Telfah, A. (2003). Country risk and stock market volatility, predictability and diversification in the Middle East and Africa. Economic Sys-tems, 27(1), 63-82.
  • Kara, E. ve Karabıyık, L. (2015). The effect of country risk on stock prices: an application in Borsa Istanbul. Süleyman Demirel Üniversitesi İİBF Dergisi, 20(1), 225-239.
  • Karaca, S., ve Uğur, A. (2008), Türkiye'deki bankacılık sektöründe risk ve karlılık analizi. World of Accounting Science, 10(3), 123-134.
  • King, R. G. ve Levine, R. (1993). Finance and growth: Schumpeter might be right. The Quarterly Journal of Economics, 108(3), 717-737.
  • Küçükbay, F. (2017), Banka karlılığını etkileyen faktörler: Avrupa Birliği bankaları ve Türk bankaları arasında bir karşılaştırma. Yönetim ve Ekonomi, 24(1), 137-149.
  • Lee, C. C., Yang, S. J. ve Chang, C. H. (2014). Non-interest income, profitability and risk in banking industry: A cross-country analysis. North American Journal of Economic and Finance, 27, 48-67.
  • Michalopoulos, G. ve Tsermenidis, K. (2018). Country risk on the bank borrowing cost dispersion within the Euro Area during the financial and debt crises. International Journal of Economics and Business Administration, 6(4), 76-92.
  • Pan, C-I., Chang, T. ve Wolde-Rufael, Y. (2015). Military spending and economic growth in the middle east countries: Bootstrap panel causality test. Defence and Peace Economics, 26(4), 443-456.
  • Patrick, H. T. (1966). Financial development and economics growth in underdevelopment countries. Economic Development & Cultural Change, 14(2), 174-189
  • Staikouras, C. K. ve Wood, G. E. (2004), The determinants of Euro-pean bank profitability. International Business&Economics Research Journal, 3(6), 57-68.
  • Sufian, F. (2011), Profitability of the Korean banking sector: Panel evidence on bank-specific and macroeconomic determinants. Journal of Economics and Management, 7(1), 43-72.
  • Tan, Y. (2016), The impact of risk and competition on bank prifitabi-lity in China. Journal of International Financial Markets, Institutions&Money, 40, 85-110.
  • Topak, M. S. ve Talu, N. H. (2016), Internal determinents of bank profitability: Evidence from Turkish banking sector. International Journal of Economic Pespectives, 10(1), 37-49.
  • Yerdelen-Tatoğlu, F. (2013), Panel veri ekonometrisi: Stata Uygulamalı. İstanbul: Beta Basım Yayım.
  • Zaremba, A. (2018), Country risk and expected return across global equity markets. Journal of Economic and Finance, 68(4), 374-398.
  • https://databank.worldbank.org/data/source/global-financial-development, 04.01.2019.
  • https://www.prsgroup.com/explore-our-products/international-country-risk-guide/, 06.08.2018.
There are 27 citations in total.

Details

Primary Language Turkish
Subjects Operation
Journal Section Articles
Authors

Zekai Şenol 0000-0001-8818-0752

Publication Date August 31, 2019
Acceptance Date August 22, 2019
Published in Issue Year 2019 18. UİK Özel Sayısı

Cite

APA Şenol, Z. (2019). Ekonomik ve Finansal Ülke Risklerin Banka Karlılığına Etkisi. OPUS International Journal of Society Researches, 12, 890-916. https://doi.org/10.26466/opus.601090