Araştırma Makalesi
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The determinants of capital structure in private and foreign deposit bank

Yıl 2021, Cilt 23, Sayı 1, 112 - 126, 02.06.2021
https://doi.org/10.33707/akuiibfd.895686

Öz

This study analyzes the factors that determine the capital adequacy ratios (CAR) of private and foreign depository banks operating in the Turkish banking sector in the aftermath of the global financial crisis. To this end, the quarterly data of 19 banks for the period 2009Q1-2020 Q3 are employed and the model is estimated by panel data methodology. The dependent variables are loans to assets ratio, deposits to assets ratio, return on equity, owner’s equity to assets ratio, non-performing loans ratio, liquidity ratio, bank’s asset size, economic growth, inflation rate and average CAR of the banking sector. The findings of the study suggest that loans to assets ratio, return on equity, liquidity and economic growth negatively affect CAR. In contrast owner’s equity to assets, size, inflation rate and average CAR of the sector have a significant and positive effect on CAR. The model could not find a significant relationship between CAR and deposits to assets ratio as well as non-performing loans ratio.

Kaynakça

  • Acar Balaylar, N. & Özdemir, M. O. (2018a). Capital Adequacy and Profitability Relationship for Foreign Deposit Banks in Turkey. Sosyoekonomi, 26(36), 209-224.
  • Acar Balaylar, N. & Özdemir, M. O. (2018b). The Relationship between Profitability and Capital Adequacy of Domestic Commercial Banks in Turkey. Accounting & Auditing Review, 18(54), 57-76.
  • Afşar, A. & Karaçayır, E. (2018). Determinations of Capital Adequacy Ratio in Turkish Banking Sector. Anadolu University Journal of Social Sciences, 18(2), 149-160.
  • Aktaş, R. Açıkalın, S., Bakın, B., & Çelik, G. (2015). The Determinants of Banks' Capital Adequacy Ratio: Some Evidence from South Eastern European Countries. Journal of Economics and Behavioral Studies, 7(1), 79-88.
  • Arellano, M. & Bond, S. (1991). Some tests of specification for panel data: Monte Carlo evidence and an application to employment equations. Review of Economic Studies, 58 (2), 277.
  • Asarkaya, Y. & Özcan, S. (2007). Determinants of Capital Structure in Financial Institutions: The Case of Turkey. Journal of BRSA Banking and Financial Markets, 1(1): 91-109.
  • Aspal, P. K. & Nazneen, A. (2014). An Empirical Analysis of Capital Adequacy in the Indian Private Sector Banks. American Journal of Research Communication, 2(11), 28-42.
  • Babuşçu, Ş., Hazar, A., Köksal, M.O. & Tekindal, M.A. (2018). Bankacılık Sektöründe Sermaye Yeterliliği Rasyosunu Belirleyen Risklerin Analizi. Uluslararası İktisadi ve İdari İncelemeler Dergisi, (20), 135-150.
  • Bankacılık Düzenleme ve Denetleme Kurumu. (2020).[Veri seti]. Erişim adresi: https://www.bddk.org.tr
  • Berger, A. N., Herring, R. J. & Szegö, G. P. (1995). The Role of Capital in Financial Institutions. Wharton Working Paper, No: 95-01.
  • Büyükşalvarcı, A. & Abdioğlu, H.(2011). Determinants of Capital Adequacy Ratio in Turkish Banks: A Panel Data Analysis. African Journal of Business Management, 5(27), 199-207.
  • Choi, G.(2000). The Macroeconomic implications of Regulatory Capital Adequacy Requirements for Korean Banks. Economic Notes, 29(1), 111-143.
  • Diaz, J.F.T. & Tin, T.T.(2017). Determinants of Banks’ Capital Structure: Evidence from Vietnamese Commercial Banks. Asian Journal of Finance and Accounting, 9(1), 261-284.
  • Dreca, N. (2013). Determinants Of Capital Adequacy Ratio In Selected Bosnian Banks. Dumlupınar Üniversitesi Sosyal Bilimler Dergisi, EYİ Özel Sayısı.
  • Dung, T.V, Hassan, M.K., Nguyen, T.D. & Paltrinieri, A. (2020). The Determinants of Bank Capital Structure in the World. The Singapore Economic Review, 65(6), 1457-1489.
  • Haubrich, J. G. & Wachtel, P. (1993). Capital Requirements And Shifts In Commercial Bank Portfolios. Federal Reserve Bank Of Cleveland Economic Review, 29(3), 2-15.
  • Ho S.J. & Hsu S.C. (2010). Leverage, Performance and Capital Adequacy Ratio in Taiwan’s Banking Industry. Japan and the World Economy, 22, 264-272.
  • Hoffmann, P. S. (2011). Determinants of the Profitability of the US Banking Industry. International Journal of Business and Social Science, 2(22), 255-269.
  • Hovakimian, A. & Kane, E.J. (2000). Effectiveness of Capital Regulation at US Commercial Banks, 1985- 1994. The Journal of Finance, 55, 451-469.
  • Iannotta, G., Nocera, G., & Sironi, A. (2007). Ownership Structure, Risk and Performance in the European Banking Industry, Journal of Banking & Finance, 31(7), 2127-2149.
  • Jasevičienė, F., & Jurkšaitytė, D. (2014). The New Capital Adequacy Framework (Basel III) Options and Issues in Commercial Banks of Lithuania. Ekonomika, 93(4), 119-134.
  • Kahane, Y. (1977). Capital Adequacy and the Regulation of Financial Intermediaries, Journal of Banking and Finance,1, 207-218.
  • Kartal, M.T. (2019). Defining Influential Factors of Capital Adequacy Ratio: An Examination upon Turkish Banking Sector (2006/Q1-2019/Q1). Emerging Markets Journal, 9(2), 17-26.
  • Kleff, V. & Weber, M. (2003). How Do Banks Determine Capital? Empirical Evidence from Germany. ZEW Discussion Paper, No: 03-66.
  • Klepczarek, E. (2015). Determinants of European Banks' Capital Adequacy Comparative Economic Research. The Journal of University of Lodz, 18 (4), 81-98.
  • Koç, Y. D. & Karahan, F. (2017). Türk Bankacılık Sektöründe Finansal Sağlamlığın Belirleyicileri. International Journal Of Academic Value Studies, 3(15), 148-153.
  • Koehn M & Santomero M.A (1980). Regulation ofBank Capital and Portfolio Risk. The Journal of Finance, 35(5), 1235-1243.
  • Lin P. (2002). Cost Eff iciency Analysis of Commercial Bank Mergers in Taiwan. International Journal of Management, 19(3), 408-417.
  • Madura, J. & Zarruk, E.R. (1993). Market Reaction to Uniform Capital Aduquacy Guidelines in the Banking Industry. Journal of Economics and Finance, 17(1), 59-73.
  • Masood, U. (2016). Determinants Of Capital Adequacy Ratio:A Perspectıve From Pakistani Banking Sector. International Journal of Economics, Commerce and Management, 4(7).
  • Mathuva, D.M. (2009). Capital Adequacy, Cost Income RatioandthePerformance of CommericalBanks: The KenyanScenario, The International Journal of Applied Economics and Finance, 3,35-47.
  • Modigliani F. & Miller H. M. (1958). The Cost of Capital, Corporation Finance and The Theory of Investment. American Economic Review, 48(3), 261-297.
  • Mpuga, P. (2002). The 1998-99 Banking Crisis in Uganda: What Was The Role of The New Capital Requirements? Journal of Financial Regulation and Compliance, 10(3), 224-242.
  • Muhammad, N., Rehman, Z.U., Sarwar, B. & Zaman, N.U (2020). The conundrum of bank capital structure: Empirical evidence from Pakistan. Cogent Economics & Finance, 8(1), 1-20.
  • Mutairi, A. & Naser, K. (2015). Determinants of Capital Structure of Banking Sector in GCC: An Empirical Investigation. Asian Economic and Financial Review, 5(7), 959-972.
  • Okuyan, H. A. (2013). Capital Structure in Turkish Banking Sector. Ege Academic Review, 13(3), 295-302.
  • Osama A. El-A. & Hassan M. H. (2015). Determinants of Capital Adequacy Ratio:An Empirical Study on Egyptian Banks, Corporate Ownership& Control, 13(1), 806-816.
  • Osterberg, P. W. & Thomson B. J. (1990). Optimal Financial Structure and Bank Capital Requirements: An Empirical Investigation, Federal Reserve Bank of Clevel and Working Paper, No: 9007.
  • Polat, A. & Al-khalaf, H. (2014). What Determines Capital Adequacy in the Banking System of Kingdom of Saudi Arabia? A Panel Data Analysis on Tadawul Banks, Journal of Applied Finance and Banking, 4(5), 27-43.
  • Reis, G. & Kötüoğlu, R. (2016). Türk Bankacılık Sektörünce Sermaye Yeterliliği Davranışı. Yönetim ve Ekonomi Araştırmaları Dergisi, 14(3), 101-110.
  • Romdhane, M. (2012). The Determinants of Banks’ Capital Ratio in Developing Countries: Empirical Evidence from Tunisia. Research Journal of Finance and Accounting, 3(1), 35-46.
  • Sayılgan, G., & Yıldırım, O. (2009). Determinants of Profitability in Turkish Banking Sector: 2002-2007. International Research Journal of Finance and Economics, 28, 207-214.
  • Sibindi, A.B. (2018). Determinants of Bank Capital Structure: Evidence from South Africa. Economica, 14(5), 108-126.
  • Türkiye Bankalar Birliği. (2020).[Veri seti]. Erişim adresi: https://www.tbb.org.tr/tr/
  • Türkiye İstatistik Kurumu. (2020).[Veri seti]. Erişim adresi: https://www.tuik.gov.tr
  • Us, V. (2015). Banking Sector Performance in Turkey Before and After the Global Crisis. İktisat İşletme ve Finans, 30(353), 45-74.
  • Wong, J., Choi, K., & Fong, T.(2005). Determinants of the capital level of banks in Hong Kong. Hong Kong Monetary Authority Quarterly Bulletin, September 2005: 14-37.

Özel ve yabancı sermayeli mevduat bankalarında sermaye yapısının belirleyicileri

Yıl 2021, Cilt 23, Sayı 1, 112 - 126, 02.06.2021
https://doi.org/10.33707/akuiibfd.895686

Öz

Bu çalışmanın amacı küresel finansal kriz sonrası dönemde Türk bankacılık sektöründe özel ve yabancı mevduat bankalarının sermaye yeterlilik oranlarını (SYR) etkileyen faktörleri ortaya koymaktır. Bu amaçla, 19 bankanın 2009Q1-2020Q3 dönemine ilişkin üç aylık verileri kullanılarak panel veri yöntemiyle model tahmini yapılmıştır. Bağımsız değişkenler olarak kredi ve mevduatın toplam varlıklara oranı, sermayenin alternatif maliyeti, özkaynakların toplam varlıklara oranı, tahsili gecikmiş alacakların kredilere oranı, likidite oranı, bankanın aktif büyüklüğü, ekonomik büyüme oranı, enflasyon oranı ve sektörün ortalama sermaye yeterlilik oranı kullanılmıştır. Sonuç olarak, sermaye yeterlilik oranının kredi oranı, sermayenin alternatif maliyeti, likidite ve büyümeyle negatif, özkaynakların varlıklara oranı, büyüklük, enflasyon ve sektörün ortalama SYR’siyle pozitif ve anlamlı bir ilişkisi olduğu bulgunlanmıştır. Sermaye yeterlilik oranı ile mevduat oranı ve tahsili gecikmiş alacakların kredilere oranı arasında anlamlı bir ilişki tespit edilememiştir.

Kaynakça

  • Acar Balaylar, N. & Özdemir, M. O. (2018a). Capital Adequacy and Profitability Relationship for Foreign Deposit Banks in Turkey. Sosyoekonomi, 26(36), 209-224.
  • Acar Balaylar, N. & Özdemir, M. O. (2018b). The Relationship between Profitability and Capital Adequacy of Domestic Commercial Banks in Turkey. Accounting & Auditing Review, 18(54), 57-76.
  • Afşar, A. & Karaçayır, E. (2018). Determinations of Capital Adequacy Ratio in Turkish Banking Sector. Anadolu University Journal of Social Sciences, 18(2), 149-160.
  • Aktaş, R. Açıkalın, S., Bakın, B., & Çelik, G. (2015). The Determinants of Banks' Capital Adequacy Ratio: Some Evidence from South Eastern European Countries. Journal of Economics and Behavioral Studies, 7(1), 79-88.
  • Arellano, M. & Bond, S. (1991). Some tests of specification for panel data: Monte Carlo evidence and an application to employment equations. Review of Economic Studies, 58 (2), 277.
  • Asarkaya, Y. & Özcan, S. (2007). Determinants of Capital Structure in Financial Institutions: The Case of Turkey. Journal of BRSA Banking and Financial Markets, 1(1): 91-109.
  • Aspal, P. K. & Nazneen, A. (2014). An Empirical Analysis of Capital Adequacy in the Indian Private Sector Banks. American Journal of Research Communication, 2(11), 28-42.
  • Babuşçu, Ş., Hazar, A., Köksal, M.O. & Tekindal, M.A. (2018). Bankacılık Sektöründe Sermaye Yeterliliği Rasyosunu Belirleyen Risklerin Analizi. Uluslararası İktisadi ve İdari İncelemeler Dergisi, (20), 135-150.
  • Bankacılık Düzenleme ve Denetleme Kurumu. (2020).[Veri seti]. Erişim adresi: https://www.bddk.org.tr
  • Berger, A. N., Herring, R. J. & Szegö, G. P. (1995). The Role of Capital in Financial Institutions. Wharton Working Paper, No: 95-01.
  • Büyükşalvarcı, A. & Abdioğlu, H.(2011). Determinants of Capital Adequacy Ratio in Turkish Banks: A Panel Data Analysis. African Journal of Business Management, 5(27), 199-207.
  • Choi, G.(2000). The Macroeconomic implications of Regulatory Capital Adequacy Requirements for Korean Banks. Economic Notes, 29(1), 111-143.
  • Diaz, J.F.T. & Tin, T.T.(2017). Determinants of Banks’ Capital Structure: Evidence from Vietnamese Commercial Banks. Asian Journal of Finance and Accounting, 9(1), 261-284.
  • Dreca, N. (2013). Determinants Of Capital Adequacy Ratio In Selected Bosnian Banks. Dumlupınar Üniversitesi Sosyal Bilimler Dergisi, EYİ Özel Sayısı.
  • Dung, T.V, Hassan, M.K., Nguyen, T.D. & Paltrinieri, A. (2020). The Determinants of Bank Capital Structure in the World. The Singapore Economic Review, 65(6), 1457-1489.
  • Haubrich, J. G. & Wachtel, P. (1993). Capital Requirements And Shifts In Commercial Bank Portfolios. Federal Reserve Bank Of Cleveland Economic Review, 29(3), 2-15.
  • Ho S.J. & Hsu S.C. (2010). Leverage, Performance and Capital Adequacy Ratio in Taiwan’s Banking Industry. Japan and the World Economy, 22, 264-272.
  • Hoffmann, P. S. (2011). Determinants of the Profitability of the US Banking Industry. International Journal of Business and Social Science, 2(22), 255-269.
  • Hovakimian, A. & Kane, E.J. (2000). Effectiveness of Capital Regulation at US Commercial Banks, 1985- 1994. The Journal of Finance, 55, 451-469.
  • Iannotta, G., Nocera, G., & Sironi, A. (2007). Ownership Structure, Risk and Performance in the European Banking Industry, Journal of Banking & Finance, 31(7), 2127-2149.
  • Jasevičienė, F., & Jurkšaitytė, D. (2014). The New Capital Adequacy Framework (Basel III) Options and Issues in Commercial Banks of Lithuania. Ekonomika, 93(4), 119-134.
  • Kahane, Y. (1977). Capital Adequacy and the Regulation of Financial Intermediaries, Journal of Banking and Finance,1, 207-218.
  • Kartal, M.T. (2019). Defining Influential Factors of Capital Adequacy Ratio: An Examination upon Turkish Banking Sector (2006/Q1-2019/Q1). Emerging Markets Journal, 9(2), 17-26.
  • Kleff, V. & Weber, M. (2003). How Do Banks Determine Capital? Empirical Evidence from Germany. ZEW Discussion Paper, No: 03-66.
  • Klepczarek, E. (2015). Determinants of European Banks' Capital Adequacy Comparative Economic Research. The Journal of University of Lodz, 18 (4), 81-98.
  • Koç, Y. D. & Karahan, F. (2017). Türk Bankacılık Sektöründe Finansal Sağlamlığın Belirleyicileri. International Journal Of Academic Value Studies, 3(15), 148-153.
  • Koehn M & Santomero M.A (1980). Regulation ofBank Capital and Portfolio Risk. The Journal of Finance, 35(5), 1235-1243.
  • Lin P. (2002). Cost Eff iciency Analysis of Commercial Bank Mergers in Taiwan. International Journal of Management, 19(3), 408-417.
  • Madura, J. & Zarruk, E.R. (1993). Market Reaction to Uniform Capital Aduquacy Guidelines in the Banking Industry. Journal of Economics and Finance, 17(1), 59-73.
  • Masood, U. (2016). Determinants Of Capital Adequacy Ratio:A Perspectıve From Pakistani Banking Sector. International Journal of Economics, Commerce and Management, 4(7).
  • Mathuva, D.M. (2009). Capital Adequacy, Cost Income RatioandthePerformance of CommericalBanks: The KenyanScenario, The International Journal of Applied Economics and Finance, 3,35-47.
  • Modigliani F. & Miller H. M. (1958). The Cost of Capital, Corporation Finance and The Theory of Investment. American Economic Review, 48(3), 261-297.
  • Mpuga, P. (2002). The 1998-99 Banking Crisis in Uganda: What Was The Role of The New Capital Requirements? Journal of Financial Regulation and Compliance, 10(3), 224-242.
  • Muhammad, N., Rehman, Z.U., Sarwar, B. & Zaman, N.U (2020). The conundrum of bank capital structure: Empirical evidence from Pakistan. Cogent Economics & Finance, 8(1), 1-20.
  • Mutairi, A. & Naser, K. (2015). Determinants of Capital Structure of Banking Sector in GCC: An Empirical Investigation. Asian Economic and Financial Review, 5(7), 959-972.
  • Okuyan, H. A. (2013). Capital Structure in Turkish Banking Sector. Ege Academic Review, 13(3), 295-302.
  • Osama A. El-A. & Hassan M. H. (2015). Determinants of Capital Adequacy Ratio:An Empirical Study on Egyptian Banks, Corporate Ownership& Control, 13(1), 806-816.
  • Osterberg, P. W. & Thomson B. J. (1990). Optimal Financial Structure and Bank Capital Requirements: An Empirical Investigation, Federal Reserve Bank of Clevel and Working Paper, No: 9007.
  • Polat, A. & Al-khalaf, H. (2014). What Determines Capital Adequacy in the Banking System of Kingdom of Saudi Arabia? A Panel Data Analysis on Tadawul Banks, Journal of Applied Finance and Banking, 4(5), 27-43.
  • Reis, G. & Kötüoğlu, R. (2016). Türk Bankacılık Sektörünce Sermaye Yeterliliği Davranışı. Yönetim ve Ekonomi Araştırmaları Dergisi, 14(3), 101-110.
  • Romdhane, M. (2012). The Determinants of Banks’ Capital Ratio in Developing Countries: Empirical Evidence from Tunisia. Research Journal of Finance and Accounting, 3(1), 35-46.
  • Sayılgan, G., & Yıldırım, O. (2009). Determinants of Profitability in Turkish Banking Sector: 2002-2007. International Research Journal of Finance and Economics, 28, 207-214.
  • Sibindi, A.B. (2018). Determinants of Bank Capital Structure: Evidence from South Africa. Economica, 14(5), 108-126.
  • Türkiye Bankalar Birliği. (2020).[Veri seti]. Erişim adresi: https://www.tbb.org.tr/tr/
  • Türkiye İstatistik Kurumu. (2020).[Veri seti]. Erişim adresi: https://www.tuik.gov.tr
  • Us, V. (2015). Banking Sector Performance in Turkey Before and After the Global Crisis. İktisat İşletme ve Finans, 30(353), 45-74.
  • Wong, J., Choi, K., & Fong, T.(2005). Determinants of the capital level of banks in Hong Kong. Hong Kong Monetary Authority Quarterly Bulletin, September 2005: 14-37.

Ayrıntılar

Birincil Dil Türkçe
Konular Sosyal
Bölüm Araştırma Makaleleri
Yazarlar

Sinem UÇARKAYA (Sorumlu Yazar)
BAŞKENT ÜNİVERSİTESİ, SOSYAL BİLİMLER ENSTİTÜSÜ, BANKACILIK VE FİNANS (DR)
0000-0002-6274-9450
Türkiye


Şenol BABUŞCU
BAŞKENT ÜNİVERSİTESİ, TİCARİ BİLİMLER FAKÜLTESİ, BANKACILIK VE FİNANS BÖLÜMÜ
0000-0003-2870-6358
Türkiye


Adalet HAZAR
BAŞKENT ÜNİVERSİTESİ, TİCARİ BİLİMLER FAKÜLTESİ, BANKACILIK VE FİNANS BÖLÜMÜ
0000-0002-1483-8360
Türkiye

Destekleyen Kurum Başkent Üniversiteis
Yayımlanma Tarihi 2 Haziran 2021
Başvuru Tarihi 12 Mart 2021
Kabul Tarihi 24 Nisan 2021
Yayınlandığı Sayı Yıl 2021, Cilt 23, Sayı 1

Kaynak Göster

APA Uçarkaya, S. , Babuşcu, Ş. & Hazar, A. (2021). Özel ve yabancı sermayeli mevduat bankalarında sermaye yapısının belirleyicileri . Afyon Kocatepe Üniversitesi İktisadi ve İdari Bilimler Fakültesi Dergisi , 23 (1) , 112-126 . DOI: 10.33707/akuiibfd.895686

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