EFFECTS OF THE RECENT FINANCIAL CRISIS ON THE DETERMINANTS OF BANK PROFITABILITY: CASE OF TURKISH BANKING INDUSTRY

Öz

The recent financial crisis had influenced the financial systems of many countries in the world. Turkish economy, one of the developing economies, has also been affected, but there are few studies investigating the effect of the recent financial crisis especially on the banking industry. Therefore this study aims to find out the impact of the recent financial crisis on bank profitability and its determinants in Turkey. In this respect, t-tests and dynamic panel estimation technique are used in the study. The analysis covers the period from December 2003 to June 2012, and it is divided into pre-crisis and post crisis periods. System GMM estimator is applied to be able to find out the determinants of bank profitability before and after the crisis. As a result, the findings reveal that profitability of banks in Turkish banking industry was not affected significantly by the recent financial crisis, but the crisis had some impacts on the determinants of bank profitability.

Anahtar Kelimeler

• Bank profitability, financial crisis, GMM estimator, dynamic panel

EFFECTS OF THE RECENT FINANCIAL CRISIS ON THE DETERMINANTS OF BANK PROFITABILITY: CASE OF TURKISH BANKING INDUSTRY

Öz

Yaşanan son finansal kriz dünyada birçok ülkenin finansal sistemleri üzerinde etkili olmuştur. Gelişmekte olan ekonomilerden olan Türkiye ekonomisi de bu krizden etkilenmiştir, ancak sözkonusu krizin özellikle bankacılık sektörüne etkilerini inceleyen çalışmaların sayısı kısıtlıdır. Bu nedenle, bu çalışmanın amacı son finansal krizin Türkiye’de faaliyet gösteren bankaların karlılıklarının belirleyicileri üzerine etkisini saptamaktır. Analiz dönemi Aralık 2003-Haziran 2012 dönemini kapsamakta olup, bu dönem kriz öncesi ve kriz sonrası olmak üzere ikiye ayrılmıştır. Kriz öncesi ve sonrası dönemlerde banka karlılığını etkileyen faktörleri saptayabilmek üzere sistem GMM tahmincisi kullanılmıştır. Sonuç olarak bulgular, Türk bankacılık sektöründeki bankaların karlılıklarının son finansal krizden önemli ölçü de etkilenmese de, krizin banka karlılığının belirleyicileri üzerinde birtakım etkileri olduğunu göstermektedir.

Anahtar Kelimeler

• Banka karlılığı, finansal kriz, GMM tahmincisi, dinamik panel

Kaynakça

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