BibTex RIS Kaynak Göster

Rekabetçi Bankacılık Sektörü Firmaların Krediye Erişimlerini Kolaylaştırır mı?

Yıl 2016, Cilt: 10 Sayı: 2, 9 - 27, 01.12.2016

Öz

Bankalar dünya genelinde en büyük kredi kaynağı oldukları için bankacılık sektörünün rekabetçi yapısının firmaların krediye erişimlerini etkilemesi beklenir. Bu çalışmanın amacı bankacılık sektöründeki rekabetin firmaların krediye erişimde karşılaştıkları zorlukları ne yönde etkilediğini bulmaktır. Çalışmanın mevcut literatüre iki katkısı vardır. İlk olarak, rekabeti ölçmek için nispeten yeni bir ölçü olan Boone göstergesi kullanılmıştır. İkinci olarak literatürde şimdiye dek kullanılmış en geniş veri setini kullanmıştır. Uygulanan sıralı probit modelinin sonuçları bankacılık sektöründeki rekabet ve firmaların karşı karşıya kaldığı finansal zorluklar arasında pozitif bir ilişki olduğunu göstermektedir

Kaynakça

  • Beck, T., Demirgüç-Kunt, A. ve Maksimovic, V.. (2004). Bank Competition and Access to Finance: International Evidence. Journal of Money, Credit and Banking, 36(3): 627-648.
  • Boone, J.. (2008). A New Way to Measure Competition. Economic Journal, 118(531): 1245-1261.
  • Boot, A.W.A. ve Thakor, A.V.. (2000). Can Relationship Banking Survive Competition? The Journal of Finance, 55: 679–713.
  • Campello, M., Graham, J. R. ve Harvey, C. R.. (2010). The Real Effects of Financial Constraints: Evidence from a Financial Crisis. Journal of Financial Economics, 97(3): 470–487.
  • Carbo, S., Humphrey, D., Maudos, J. ve Molyneux, P.. (2009). Cross-country comparisons of competition and pricing power in European banking. Journal of International Money and Finance, 28: 115–134.
  • Carbo-Valverde, S. , Rodriguez Fernandez, F. ve udell, G.. (2009). Bank mar- ket power and SME financing constraints. Review of Finance, 13:309–340 .
  • Chang, P.C., Jia, C. ve Wang, Z.. (2010). Bank fund reallocation and economic growth: Evidence from China. Journal of Banking & Finance, 34: 2753–2766.
  • Chong, T.T.L., Lu, L. ve Ongena, S.. (2013). Does banking competition al- leviate or worsen credit constraints faced by small- and medium-sized enter- prises? Evidence from China. Journal of Banking & Finance, 37: 3412–3424.
  • Claessens, S. ve Laeven, L.. (2004). What drives bank competition? Some international evidence. Journal of Money, Credit, and Banking, 36: 563-583.
  • Coşkun, M.N., Ardor, H.N., Çermikli, H., Eruygur, O., Öztürk, F., Tokatlıoğlu, İ., Aykaç, G. ve Dağlaroğlu, T.. (2012). Türkiye’de Bankacılık Sektörü Piyasa Yapısı, Firma Davranışları ve Rekabet Analizi. İstanbul: G.M. Matbaacılık ve Ticaret A.Ş.
  • Crnigoj, M. ve Verbic, M.. (2014). Financial Constraints and Corporate In- vestments: The Credit Crunch and Investment Decisions of Slovenian Firms. Economic Systems, 38 (4): 502-517.
  • Dell’Ariccia, G. ve Marquez, R.. (2006). Lending booms and lending stan- dards. Journal of Finance, 61 (5): 2511–2546.
  • Fernández, A.I, González F. ve Suárez, N.. (2013). How do bank competition, regulation, and institutions shape the real effect of banking crises? Interna- tional evidence. Journal of International Money and Finance, 33: 19–40.
  • Fungáčová, Z., Shamshur, A., ve Weill, L.. (2017). Does bank competition reduce cost of credit? Cross-country evidence from Europe. Journal of Bank- ing & Finance, 83: 104-120.
  • González, L. O., Razia, A., Bşa, M.V. ve Sestayo, R.L. (2017). Competition, concentration and risk taking in Banking sector of MENA countries. Research in International Business and Finance, 42: 591-604.
  • Leuvensteijn, M. V.. (2008). The Boone-Indicator: Identifying Different Regi- mes of Competition for the American Sugar Refining Company 1890- 1914. Tjalling C. Koopmans Research Institute Discussion Paper Series, No:08-37, Netherland.
  • Love, I. ve Martínez Pería, M.S.. (2015). How Bank Competition Affects Firms’ Access to Finance. World Bank Economic Review, 29 (3): 413-448.
  • Mirzaei, A. ve Moore, T.. (2014). What are the driving forces of bank compe- tition across different income groups of countries?. Journal of International Financial Markets, Institutions and Money, 32(C): 38-71.
  • Rahaman, M. M.. (2011). Access to financing and firm growth. Journal of Banking & Finance, 35: 709–723.
  • Ratti, R.A., Lee, S. ve Seol, Y.. (2008). Bank concentration and financial cons- traints on firm-level investment in Europe. Journal of Banking & Finance, 32: 2684–2694.
  • Panzar, J. ve Rosse, J.. (1987). Testing for Monopoly Equilibrium. Journal of Industrial Economics, 35: 443-456.
  • Petersen, M. A. ve Rajan, R.. (1994). The benefits of lending relationships: evidence from small business data. Journal of Finance, 49: 3-37.
  • Petersen, M. A. ve Rajan, R.. (1995). The effect of credit market competition on lending relationships. The Quarterly Journal of Economics, 110(2): 407- 43.
  • Ryan, R. , O’Toole, C. ve McCann, F.. (2014). Does bank market power affect SME financing constraints?. Journal of Banking Finance, 49:495–505.
  • Schaeck, K. ve Čihák, M.. (2010). Competition, Efficiency, and Soundness in Banking: An Industrial Organisation Perspective. European Banking Center Discussion Paper, No. 2010-20S.
  • Smith, T.. (1998). Banking Competition and Macroeconomic Performance. Journal of Money, Credit and Banking, 30(4): 793-815.
  • Xu, B., Rixtel, A. ve Van Leuvensteijn, M.. (2013). Measuring bank competi- tion in China: a comparison of new versus conventional approaches applied to loan markets, BIS Working Papers, No 422.
  • Tabak, B.M., Fazio, D.M. ve Cajueiro, D.O.. (2012). The relationship between banking market competition and risk-taking: Do size and capitalization mat- ter?. Journal of Banking & Finance, 36(12): 3366-3381.

Does a Competitive Banking Sector Promote Access to Credit by Firms?

Yıl 2016, Cilt: 10 Sayı: 2, 9 - 27, 01.12.2016

Öz

Does a Competitive Banking Sector Promote Access to Credit by Firms?Since banks are the biggest source of credit around the world, the competitive structure of banking sector can affect the access to credit by firms. The aim of this paper is to explore the effect of bank competition on access to credit by firms. This paper has two contributions to the literature. First, it uses a relatively new measure of competition, i.e. Boone indicator for banking sector. Second, it employs the widest dataset that is ever used in the literature. The results of ordered probit model indicate a positive relationship between competition in banking and access to credit by firms

Kaynakça

  • Beck, T., Demirgüç-Kunt, A. ve Maksimovic, V.. (2004). Bank Competition and Access to Finance: International Evidence. Journal of Money, Credit and Banking, 36(3): 627-648.
  • Boone, J.. (2008). A New Way to Measure Competition. Economic Journal, 118(531): 1245-1261.
  • Boot, A.W.A. ve Thakor, A.V.. (2000). Can Relationship Banking Survive Competition? The Journal of Finance, 55: 679–713.
  • Campello, M., Graham, J. R. ve Harvey, C. R.. (2010). The Real Effects of Financial Constraints: Evidence from a Financial Crisis. Journal of Financial Economics, 97(3): 470–487.
  • Carbo, S., Humphrey, D., Maudos, J. ve Molyneux, P.. (2009). Cross-country comparisons of competition and pricing power in European banking. Journal of International Money and Finance, 28: 115–134.
  • Carbo-Valverde, S. , Rodriguez Fernandez, F. ve udell, G.. (2009). Bank mar- ket power and SME financing constraints. Review of Finance, 13:309–340 .
  • Chang, P.C., Jia, C. ve Wang, Z.. (2010). Bank fund reallocation and economic growth: Evidence from China. Journal of Banking & Finance, 34: 2753–2766.
  • Chong, T.T.L., Lu, L. ve Ongena, S.. (2013). Does banking competition al- leviate or worsen credit constraints faced by small- and medium-sized enter- prises? Evidence from China. Journal of Banking & Finance, 37: 3412–3424.
  • Claessens, S. ve Laeven, L.. (2004). What drives bank competition? Some international evidence. Journal of Money, Credit, and Banking, 36: 563-583.
  • Coşkun, M.N., Ardor, H.N., Çermikli, H., Eruygur, O., Öztürk, F., Tokatlıoğlu, İ., Aykaç, G. ve Dağlaroğlu, T.. (2012). Türkiye’de Bankacılık Sektörü Piyasa Yapısı, Firma Davranışları ve Rekabet Analizi. İstanbul: G.M. Matbaacılık ve Ticaret A.Ş.
  • Crnigoj, M. ve Verbic, M.. (2014). Financial Constraints and Corporate In- vestments: The Credit Crunch and Investment Decisions of Slovenian Firms. Economic Systems, 38 (4): 502-517.
  • Dell’Ariccia, G. ve Marquez, R.. (2006). Lending booms and lending stan- dards. Journal of Finance, 61 (5): 2511–2546.
  • Fernández, A.I, González F. ve Suárez, N.. (2013). How do bank competition, regulation, and institutions shape the real effect of banking crises? Interna- tional evidence. Journal of International Money and Finance, 33: 19–40.
  • Fungáčová, Z., Shamshur, A., ve Weill, L.. (2017). Does bank competition reduce cost of credit? Cross-country evidence from Europe. Journal of Bank- ing & Finance, 83: 104-120.
  • González, L. O., Razia, A., Bşa, M.V. ve Sestayo, R.L. (2017). Competition, concentration and risk taking in Banking sector of MENA countries. Research in International Business and Finance, 42: 591-604.
  • Leuvensteijn, M. V.. (2008). The Boone-Indicator: Identifying Different Regi- mes of Competition for the American Sugar Refining Company 1890- 1914. Tjalling C. Koopmans Research Institute Discussion Paper Series, No:08-37, Netherland.
  • Love, I. ve Martínez Pería, M.S.. (2015). How Bank Competition Affects Firms’ Access to Finance. World Bank Economic Review, 29 (3): 413-448.
  • Mirzaei, A. ve Moore, T.. (2014). What are the driving forces of bank compe- tition across different income groups of countries?. Journal of International Financial Markets, Institutions and Money, 32(C): 38-71.
  • Rahaman, M. M.. (2011). Access to financing and firm growth. Journal of Banking & Finance, 35: 709–723.
  • Ratti, R.A., Lee, S. ve Seol, Y.. (2008). Bank concentration and financial cons- traints on firm-level investment in Europe. Journal of Banking & Finance, 32: 2684–2694.
  • Panzar, J. ve Rosse, J.. (1987). Testing for Monopoly Equilibrium. Journal of Industrial Economics, 35: 443-456.
  • Petersen, M. A. ve Rajan, R.. (1994). The benefits of lending relationships: evidence from small business data. Journal of Finance, 49: 3-37.
  • Petersen, M. A. ve Rajan, R.. (1995). The effect of credit market competition on lending relationships. The Quarterly Journal of Economics, 110(2): 407- 43.
  • Ryan, R. , O’Toole, C. ve McCann, F.. (2014). Does bank market power affect SME financing constraints?. Journal of Banking Finance, 49:495–505.
  • Schaeck, K. ve Čihák, M.. (2010). Competition, Efficiency, and Soundness in Banking: An Industrial Organisation Perspective. European Banking Center Discussion Paper, No. 2010-20S.
  • Smith, T.. (1998). Banking Competition and Macroeconomic Performance. Journal of Money, Credit and Banking, 30(4): 793-815.
  • Xu, B., Rixtel, A. ve Van Leuvensteijn, M.. (2013). Measuring bank competi- tion in China: a comparison of new versus conventional approaches applied to loan markets, BIS Working Papers, No 422.
  • Tabak, B.M., Fazio, D.M. ve Cajueiro, D.O.. (2012). The relationship between banking market competition and risk-taking: Do size and capitalization mat- ter?. Journal of Banking & Finance, 36(12): 3366-3381.
Toplam 28 adet kaynakça vardır.

Ayrıntılar

Birincil Dil Türkçe
Bölüm Research Article
Yazarlar

Elmas Yaldız Hanedar Bu kişi benim

Yayımlanma Tarihi 1 Aralık 2016
Yayımlandığı Sayı Yıl 2016 Cilt: 10 Sayı: 2

Kaynak Göster

APA Yaldız Hanedar, E. (2016). Rekabetçi Bankacılık Sektörü Firmaların Krediye Erişimlerini Kolaylaştırır mı?. BDDK Bankacılık Ve Finansal Piyasalar Dergisi, 10(2), 9-27.