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Does Mode of Foreign Entry Affect Profitability Dynamics? An Evidence from the Turkish Banking Sector

Yıl 2018, Cilt: 12 Sayı: 1, 9 - 61, 01.06.2018

Öz

This paper analyzes the effect of foreign entry on the profitability of the Turkish banks by panel estimation models. The dependent variable is net return on assets and net return on equity, which are used interchangeably to measure profitability. The independent variables are composed of bank-specific variables as well as host-country and global factors. In the benchmark model, the effect of foreign entry is captured by dummy variables that classify banks according to their foreign share content, whereas in the alternative model, the estimations are conducted seperately for each mode of foreign entry category. Additionally, the analysis is repeated individually for the periods before and after the global crisis. Estimation results suggest that the significance of the explanatory variables changes depending on the foreign share content. Also, bank-specific variables and global factors are more important, while host-country factors are less important after the global crisis. For future work, other explanatory variables may be added to capture features peculiar to mode of foreign entry. Furthermore, certain variables may be included to seize developments in parent banks’ countries, which might affect subsidiary banks. Finally, other bank-specific variables like measures on administrative structure may be useful in estimations

Kaynakça

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  • Akçay, O.C., 2003, The Turkish Banking Sector Two Years after the Crisis: A Snapshot of the Sector and Current Risks, Turkish Studies, 4(2): 169-187.
  • Akın, A. and N. Bayyurt, 2016, Mode of Entry and the Performance of For- eign Banks: Evidence from Turkish Banking Industry, Eurasian Journal of Busi- ness and Economics, 9(17): 153-164.
  • Akter, R. and J. Roy, 2017, The Impacts of Non-Performing Loan on Profita- bility: An Empirical Study on Banking Sector of Dhaka Stock Exchange, Inter- national Journal of Economics and Finance, 9(3): 126-132.
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  • 2001b, The Disinflation Program and the Structure of the Turkish Banking Sector, Boğaziçi Journal, 15(2): 25-33.
  • Altavilla, C., M. Boucinha, J.L. Peydró, 2017, Monetary Policy and Bank Prof- itability in a Low Interest Rate Environment, European Central Bank Working Paper Series No. 2105.
  • Andrews, A.M., 2005, State-Owned Banks, Stability, Privatization, and Growth Practical Policy Decisions in a World without Empirical Proof, IMF Working Paper No. 05/10.
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  • Athanasoglou, P., S. Brissimis and M. Delis, 2008, Bank-Specific, Industry-Spe- cific and Macroeconomic Determinants of Bank Profitability, Journal of Inter- national Financial Markets, Institutions and Money, 18 (2): 121-136.
  • Aysan, A.F. and S.P. Ceyhan, 2008, What Determines the Banking Sector Performance in Globalized Financial Markets? The Case of Turkey, Physica A: Statistical Mechanics and its Applications, 387 (7): 1593-1602.
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Yabancı Girişi Kârlılık Dinamiklerini Etkiliyor mu? Türk Bankacılık Sektöründen Kanıt

Yıl 2018, Cilt: 12 Sayı: 1, 9 - 61, 01.06.2018

Öz

Bu çalışmada yabancı girişinin Türk bankalarının kârlılığı üzerindeki etkileri panel tahmin modelleriyle incelenmektedir. Kârlılığı ölçmek üzere bağımlı değişken olarak varlık getirisi ve özsermaye getirisinin dönüşümlü kullanıldığı çalışmada, açıklayıcı değişkenler bankaya özgü değişkenler ile evsahibi ülke ve küresel ekonomiye ilişkin etkenlerden oluşmaktadır. Baz modelde yabancı payının etkisi kukla değişkenlerle kontrol edilmekte, alternatif modelde ise regresyonlar bankaların yabancı payı kategorisi ayırımına göre tahmin edilmektedir. Ek olarak, analiz küresel kriz öncesi ve sonrası dönemler için tekrarlanmaktadır. Tahmin sonuçları açıklayıcı değişkenlerin anlamlılığının bankaların yabancı payına göre değiştiğini göstermektedir. Ayrıca, küresel kriz sonrasında bankaya özgü değişkenler ve küresel etkenlerin daha anlamlı, ev sahibi ülke etkenlerinin ise daha az anlamlı olduğu görülmektedir. İleriki dönemde yapılacak çalışmalarda, modele yabancı payını yansıtacak açıklayıcı değişkenlerin eklenmesi önerilmektedir. Buna ek olarak, bağlı bankaları etkileyen ev sahibi ülkelerdeki gelişmeleri yansıtacak değişkenlerin de çalışmaya dahil edilmesi gerektiği düşünülmektedir. Son olarak, tahminlere bankaların idari yapısına ilişkin değişkenlerin ilave edilmesinin faydalı olacağı değerlendirilmektedir

Kaynakça

  • Adrian, T. and H.S. Shin, 2010, Liquidity and Leverage, Journal of Financial Intermediation, 19(3): 418-437.
  • Akçay, O.C., 2003, The Turkish Banking Sector Two Years after the Crisis: A Snapshot of the Sector and Current Risks, Turkish Studies, 4(2): 169-187.
  • Akın, A. and N. Bayyurt, 2016, Mode of Entry and the Performance of For- eign Banks: Evidence from Turkish Banking Industry, Eurasian Journal of Busi- ness and Economics, 9(17): 153-164.
  • Akter, R. and J. Roy, 2017, The Impacts of Non-Performing Loan on Profita- bility: An Empirical Study on Banking Sector of Dhaka Stock Exchange, Inter- national Journal of Economics and Finance, 9(3): 126-132.
  • Alp, H. and S. Elekdağ, 2011, The Role of Monetary Policy in Turkey during the Global Financial Crisis, IMF Working Paper No. 11/150.
  • Alper, C.E. and Z. Öniş, 2004, The Turkish Banking System and the IMF in the Age of Capital Account Liberalization, New Perspectives on Turkey, 30(1): 25-55.
  • Alper, C.E., M.H. Berument and N.K. Malatyalı, 2001a, The Impact of the Disinflation Program on the Structure of the Turkish Banking Sector, Russian and East European Finance and Trade, 37(6): 76-89.
  • 2001b, The Disinflation Program and the Structure of the Turkish Banking Sector, Boğaziçi Journal, 15(2): 25-33.
  • Altavilla, C., M. Boucinha, J.L. Peydró, 2017, Monetary Policy and Bank Prof- itability in a Low Interest Rate Environment, European Central Bank Working Paper Series No. 2105.
  • Andrews, A.M., 2005, State-Owned Banks, Stability, Privatization, and Growth Practical Policy Decisions in a World without Empirical Proof, IMF Working Paper No. 05/10.
  • Angbazo, L., 1997, Commercial Bank Net Interest Margins, Default Risk, In- terest-Rate Risk, and Off-Balance Sheet Banking, Journal of Banking & Fi- nance, 21(1), 55-87.
  • Aras, O.N., 2010, Effects of the Global Economic Crisis on Turkish Banking Sector, International Journal of Economics and Finance Studies, 2(1): 113- 120.
  • Athanasoglou, P., S. Brissimis and M. Delis, 2008, Bank-Specific, Industry-Spe- cific and Macroeconomic Determinants of Bank Profitability, Journal of Inter- national Financial Markets, Institutions and Money, 18 (2): 121-136.
  • Aysan, A.F. and S.P. Ceyhan, 2008, What Determines the Banking Sector Performance in Globalized Financial Markets? The Case of Turkey, Physica A: Statistical Mechanics and its Applications, 387 (7): 1593-1602.
  • Barajas, A., S. Roberto and S. Natalia, 2000, The Impact of Liberalization and Foreign Investment in Colombia’s Financial Sector, Journal of Development Economics, 63(1): 157-196.
  • BCBS, 2016, Regulatory Consistency Assessment Programme (RCAP): Assess- ment of Basel III Risk-Based Capital Regulations-Turkey, Bank for Internation- al Settlements, March.
  • BRSA, 2006, Regulation on the Procedures and Principles for Determination of Qualifications of Loans and Other Receivables by Banks and Provisions to be Set Aside, available at http://www.bddk.org.tr/WebSitesi/english/Legis- lation/6361BANKAL~1.pdf.
  • Beck, T., R. Cull and J. Afeikhena, 2005, Bank Privatization and Performance: Empirical Evidence from Nigeria, Journal of Banking & Finance, 29(8-9): 2355-2379.
  • Ben Naceur, S., 2003, The Determinants of the Tunisian Banking Industry Profitability: Panel Evidence, Unpublished paper.
  • Berger, A.N., 1995, The Relationship between Capital and Earnings in Bank- ing, Journal of Money, Credit and Banking 27(2), 432-456.
  • Berger, A.N., I. Hassan and M. Zhou, 2009, Bank Ownership and Efficiency in China: What Will Happen in the World’s Largest Nation, Journal of Banking & Finance, 33(1): 113-130.
  • Bikker, J.A. and H. Hu, 2002, Cyclical Patterns in Profits, Provisioning and Lending of Banks and Procyclicality of the New Basel Capital Requirements, Banca Nazionale del Lavoro Quarterly Review, 55(221): 143-175.
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Toplam 123 adet kaynakça vardır.

Ayrıntılar

Birincil Dil İngilizce
Konular Finans
Bölüm Research Article
Yazarlar

Vuslat Us Bu kişi benim

Yayımlanma Tarihi 1 Haziran 2018
Yayımlandığı Sayı Yıl 2018 Cilt: 12 Sayı: 1

Kaynak Göster

APA Us, V. (2018). Does Mode of Foreign Entry Affect Profitability Dynamics? An Evidence from the Turkish Banking Sector. BDDK Bankacılık Ve Finansal Piyasalar Dergisi, 12(1), 9-61.