Convergence among European Union countries in terms of bank capital structure

Öz

The objective of this study is to reveal the convergence status of the European Union member and candidate countries in terms of the ratio of bank capital to assets, which is one of the most important indicators of the banking sector. Using data for the period 2005-2024, the analysis conducted with the PANIC-LM test updated by Payne et al. (2022) shows that eight of the twenty-eight countries (Austria, Belgium, Bulgaria, Croatia, Estonia, Finland, Latvia, and Luxembourg) show a convergence trend. The study is unique in that it uses an up-to-date convergence analysis and is the first in the literature to consider EU countries in this respect. The results have important implications for policymakers and researchers and make an important contribution to the literature.

Anahtar Kelimeler

• Convergence
• Banking
• Bank Capital to Assets Ratio
• European Union

Avrupa Birliği ülkeleri arasında banka sermaye yapısı açısından yakınsama

Öz

Bankacılık sektörü açısından sermaye yapısı kararları, diğer sektörlere kıyasla özsermayenin aktiflere oranının düşük olması ve bunun finansal kaldıraç üzerindeki duyarlılığı artırması nedeniyle özellikle önemlidir. Ayrıca banka sağlamlılığının bir göstergesi olması, pek çok mevzuatsal düzenlemeyle şekillendirilmiş olması, düzenleyici otoriteler, yöneticiler, derecelendirme kuruluşları ve hissedarlar açısından da önemli olması sebebiyle dikkat çekicidir. Bu önemine binaen bankaların, düzenleyici otoriteler ve derecelendirme kuruluşları tarafından belirlenen ve izlenen asgari sermaye oranını korumaları gerekmektedir. Bu çalışmanın amacı bankacılık sektörünün önemli göstergelerinden birisi olan banka sermayesinin aktiflere oranı açısından Avrupa Birliği üyesi ve aday ülkelerin yakınsama durumunu ortaya koymaktır. 2005-2024 dönemi verileri kullanılarak PANIC-LM testi ile yapılan analizler, değerlendirmeye alınan yirmi sekiz ülkeden sekizinin (Avusturya, Belçika, Bulgaristan, Hırvatistan, Estonya, Finlandiya, Letonya ve Lüksemburg) birbirine yakınsama eğilimi gösterdiğini ortaya koymuştur. Çalışma güncel bir yakınsama analizi kullanılması ve literatürde ilk defa bu açıdan AB ülkelerinin ele alınması sebebiyle literatürdeki önemli bir boşluğu doldurmaktadır. Ortaya konulan sonuçlar politika yapıcılar ve araştırmacılar açısından yol gösterici önemli bulgular içermektedir.

Anahtar Kelimeler

• Yakınsama
• Bankacılık
• Banka Sermayesinin Aktiflere Oranı
• Avrupa Birliği

Kaynakça

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