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MICRO-DETERMINANTS OF NET INTEREST MARGIN IN TURKISH BANKING SECTOR: EFFECTS OF GLOBAL FINANCIAL CRISIS

Yıl 2020, Cilt 10, Sayı 19, 7 - 34, 30.06.2020

Öz

The aim of this paper is to investigate the bank level determinants of Net Interest Margin for commercial banks operating in Turkish Banking Sector. For this purpose a panel data set which consists of countinuosly operated commercial banks during 2002Q4-2017Q4 is analysed using Driscoll-Kraay and difference GMM estimators. Results suggest that bank level variables are more significant in determining net interet margin rather than macro variables. Factors having impact on reducement of margins and thus improvement of intermediation efficiency are credit risk management, cost management and generating alternative income through operation diversity. Moreover banks operated with higher margins priorly seems to maintain this tendency during the next periods. Effects of Global Financial Crisis in 2008 on determinants of net interest margin are also investigated.

Kaynakça

  • Abreu, M., & Mendes, V., (2003). Do Macro-Financial Variables Matter for European Bank Interest Margins and Profitability, Financial Management Association International.
  • Afanasieff, L. & Nakane M.I. (2002). The Determinants of Bank Interest Spread in Brazil, Research Department, Banco Central do Brasil, Working Paper Series, 46. Allen, L. (1988). The Determinants of Net Interest Margins: A Note, The Journal of Financial and Quantitative Analysis, 23(2), 231-235.
  • Angbazo, L. (1997). Commercial Bank Net Interest Margins, Default Risk, Interest-Rate Risk, and Off-Balance Sheet Banking, Journal of Banking & Finance, 21, 55-87.
  • Brock, P. L. & Suarez L.J., (2000). Understanding the Behaviour of Bank Spreads in Latin America, Journal of Development Economics, 63, 113-134.
  • Chortareas, G. E., Garza-García, Jesús G. & Girardone, C. (2012). Competition, Efficiency And Interest Rate Margins in Latin American Banking, International Review of Financial Analysis, 24, 93–103.
  • Claessens, S., Coleman, N. & Donnelly, M. (2018). “Low-for-long” Interest Rates And Banks’ Interest Margins And Profitability: Cross-country evidence, Journal of Financial Intermediation, 35, 1-16.
  • Claeys, S. & Vennet, R. V. (2008). Determinants of Bank Interest Margins in Central and Eastern Europe: A comparison with the West, Economic Systems, 32, 197–216.
  • Demirgüç-Kunt, A. & Huizinga, H. (1999). Determinants of Commercial Bank Interest Margins and Profitability: some international evidence, The World Bank Policy Research Working Paper, No. 1900.
  • Doliente J.S., (2005). Determinants of Bank Net Interest Margins of Southeast Asia, Applied Financial Economics Letters, 1:1, 53-57.
  • Drakos, Kostas (2003), Assessing the Success of Reform in Transition Banking 10 Years Later: an interest margin analiysis, Jorunal of Policy Modeling, Vol. 25(3), 309-317.
  • Entrop, O., Memmel, C., Ruprecht, B. & Wilkens, M. (2015). Determinants of bank interest margins: Impact of maturity transformation, Journal of Banking & Finance, 54, 1–19.
  • Erol, H. (2007). Bankalarda Net Faiz Marjının Belirleyicileri, Risk Duyarlılığı ve Politika Önerileri, TCMB Bankacılık ve Finansal Kuruluşlar Genel Müdürlüğü, Uzmanlık Yeterlilik Tezi, Ankara.
  • Fungacova, Z. & Poghosyan T. (2011). Determinants of Bank Interest Margins in Russia: Does bank ownership matter?, Economic Systems, 35, 481–495.
  • Ho, T.S.Y. &. Saunders , A. (1981). The Determinants Of Bank Interest Margins: Theory and Empirical Evidence, Journal of Financial and Quantitative Analyses, 16(4), 581-600.
  • Islam, M. D. & Nishiyama, S.I. (2016). The Determinants of Bank Net Interest Margins: A Panel Evidence from South Asian Countries, Research in International Business and Finance, 37, 501–514.
  • İslantince, N. (2016). Estimation of Net Interest Margin Determinants of the Deposit Banks in Turkey Through Static and Dynamic Panel Data Modeling, International Journal of Humanities and Social Science Invention, 5(12), 26-32.
  • Kansoy, F. (2012). The Determinants of Net Interest Margin in the Turkish Banking Sector: Does Bank OwnershipMatter?. Journal of BRSA Banking and FinancialMarkets, 6(2), 13-49.
  • King, M. R. (2013). The Basel III Net Stable Funding Ratio and Bank Net Interest Margins, Journal of Banking&Finance, 37, 4144-4156.
  • Lepetit, L., Nys, E., Rous, P. & Tarazi, A. (2008). The Expansion of Services in European Banking: Implications for Loan Pricing And Interest Margins, Journal of Banking and Finance, 32(11), 2325-2335.
  • Lin, J-R., Chung, H., Hsieh, M-H. & Wu, S. (2012), The Determinants of Interest Margins and their Effect on Bank Diversification: Evidence from Asian Banks, Journal of Financial Stability, 8, 96-106.
  • Maudos, J. & De Guevara, J.F. (2004). Factors Explaining the Interest Margin in the Banking Sectors of the European Union, Journal of Banking&Finance, 28(9), 2259-2281.
  • Maudos, J. & Solis, L. (2009). The Determinants of Net Interest Income in the Mexican Banking System: an Integrated Model, Journal of Banking&Finance, 33, 1920-1931.
  • Saksonova, S. (2014). The Role of Net Interest Margin in Improving Banks’ Asset Structure and Assesing the Stability and Efficiency of Their Operations, 10. International Strategic Menegement Conference, Procedia-Social and Behaioral Sciences, 150, 132-141.
  • Saunders, A. & Schumacher, L. (2000). The Determinants of Bank Interest Rate, Margins: an International Study, Journalof International Money and Finance, 19, 813-832.
  • Tarus, D.K., Chekol, Y.B. & Mutwol, M. (2012). Determinants of Net Interest Margins of Commercial Banks in Kenya: A Panel Study, Procedia Economics and Finance 2(2012), 199-208.
  • Trinugroho, I., Risfandy, T. & Ariefianto, M.D. (2018). Competition, Diversification and Bank Margins: Evidence form Indonesian Islamic Rural Banks, Borsa Istanbul Review, 18-4, 349-358.
  • Türker Kaya, Y. (2001). Türk Bankacılık Sisteminde Net Faiz Marjının Modellenmesi, BDDK MSPD Çalışma Raporları, 2001/4.
  • Yüksel, S. & Zengin, S (2017). Influencing Factors of Net Interest Margin in Turkish Banking Sector, International Journal of Economics and Financial Issues, 7(1), 178-191.
  • Zhou, K. & Wong, M.C.S. (2008). The Determinants of Net Interest Margins of Commercial Banks in Mainland China, Emerging Markets Finance&Trade, September-October 2008, 44(5), 41-53.

TÜRK BANKACILIK SEKTÖRÜNDE NET FAİZ MARJININ MİKRO-BELİRLEYİCİLERİ: KÜRESEL MALİ KRİZİN ETKİLERİ

Yıl 2020, Cilt 10, Sayı 19, 7 - 34, 30.06.2020

Öz

Çalışmanın amacı, Türk Bankacılık Sektöründe Net Faiz Marjının banka ölçeğindeki belirleyicilerini tespit etmektir. Bu amaçla 2006 4. Çeyrek ile 2017 4. Çeyrek arasında sürekli faaliyet göstermiş olan ticari bankaların verilerinden oluşan panel veri seti sabit etkiler yöntemi ile analiz edilmiştir. Bulgular bankaların net faiz marjlarının aktif karlılığı, faaliyet giderleri, likidite, mevduat oranı, kredi riski ve kur riskleri ile pozitif; ölçek, özkaynak oranı ve faiz dışı gelirler değişkenleri ile negatif ilişkili olduğunu ortaya koymaktadır. Takipteki krediler, faiz riski ve bilanço dışı işlemler ise net faiz marjı ile ilişkili bulunmamıştır. Ayrıca bankaların uyguladıkları marjlara ilişkin geçmiş eğilimlerini sonraki dönemlerde de devam ettirdikleri görülmüştür.

Kaynakça

  • Abreu, M., & Mendes, V., (2003). Do Macro-Financial Variables Matter for European Bank Interest Margins and Profitability, Financial Management Association International.
  • Afanasieff, L. & Nakane M.I. (2002). The Determinants of Bank Interest Spread in Brazil, Research Department, Banco Central do Brasil, Working Paper Series, 46. Allen, L. (1988). The Determinants of Net Interest Margins: A Note, The Journal of Financial and Quantitative Analysis, 23(2), 231-235.
  • Angbazo, L. (1997). Commercial Bank Net Interest Margins, Default Risk, Interest-Rate Risk, and Off-Balance Sheet Banking, Journal of Banking & Finance, 21, 55-87.
  • Brock, P. L. & Suarez L.J., (2000). Understanding the Behaviour of Bank Spreads in Latin America, Journal of Development Economics, 63, 113-134.
  • Chortareas, G. E., Garza-García, Jesús G. & Girardone, C. (2012). Competition, Efficiency And Interest Rate Margins in Latin American Banking, International Review of Financial Analysis, 24, 93–103.
  • Claessens, S., Coleman, N. & Donnelly, M. (2018). “Low-for-long” Interest Rates And Banks’ Interest Margins And Profitability: Cross-country evidence, Journal of Financial Intermediation, 35, 1-16.
  • Claeys, S. & Vennet, R. V. (2008). Determinants of Bank Interest Margins in Central and Eastern Europe: A comparison with the West, Economic Systems, 32, 197–216.
  • Demirgüç-Kunt, A. & Huizinga, H. (1999). Determinants of Commercial Bank Interest Margins and Profitability: some international evidence, The World Bank Policy Research Working Paper, No. 1900.
  • Doliente J.S., (2005). Determinants of Bank Net Interest Margins of Southeast Asia, Applied Financial Economics Letters, 1:1, 53-57.
  • Drakos, Kostas (2003), Assessing the Success of Reform in Transition Banking 10 Years Later: an interest margin analiysis, Jorunal of Policy Modeling, Vol. 25(3), 309-317.
  • Entrop, O., Memmel, C., Ruprecht, B. & Wilkens, M. (2015). Determinants of bank interest margins: Impact of maturity transformation, Journal of Banking & Finance, 54, 1–19.
  • Erol, H. (2007). Bankalarda Net Faiz Marjının Belirleyicileri, Risk Duyarlılığı ve Politika Önerileri, TCMB Bankacılık ve Finansal Kuruluşlar Genel Müdürlüğü, Uzmanlık Yeterlilik Tezi, Ankara.
  • Fungacova, Z. & Poghosyan T. (2011). Determinants of Bank Interest Margins in Russia: Does bank ownership matter?, Economic Systems, 35, 481–495.
  • Ho, T.S.Y. &. Saunders , A. (1981). The Determinants Of Bank Interest Margins: Theory and Empirical Evidence, Journal of Financial and Quantitative Analyses, 16(4), 581-600.
  • Islam, M. D. & Nishiyama, S.I. (2016). The Determinants of Bank Net Interest Margins: A Panel Evidence from South Asian Countries, Research in International Business and Finance, 37, 501–514.
  • İslantince, N. (2016). Estimation of Net Interest Margin Determinants of the Deposit Banks in Turkey Through Static and Dynamic Panel Data Modeling, International Journal of Humanities and Social Science Invention, 5(12), 26-32.
  • Kansoy, F. (2012). The Determinants of Net Interest Margin in the Turkish Banking Sector: Does Bank OwnershipMatter?. Journal of BRSA Banking and FinancialMarkets, 6(2), 13-49.
  • King, M. R. (2013). The Basel III Net Stable Funding Ratio and Bank Net Interest Margins, Journal of Banking&Finance, 37, 4144-4156.
  • Lepetit, L., Nys, E., Rous, P. & Tarazi, A. (2008). The Expansion of Services in European Banking: Implications for Loan Pricing And Interest Margins, Journal of Banking and Finance, 32(11), 2325-2335.
  • Lin, J-R., Chung, H., Hsieh, M-H. & Wu, S. (2012), The Determinants of Interest Margins and their Effect on Bank Diversification: Evidence from Asian Banks, Journal of Financial Stability, 8, 96-106.
  • Maudos, J. & De Guevara, J.F. (2004). Factors Explaining the Interest Margin in the Banking Sectors of the European Union, Journal of Banking&Finance, 28(9), 2259-2281.
  • Maudos, J. & Solis, L. (2009). The Determinants of Net Interest Income in the Mexican Banking System: an Integrated Model, Journal of Banking&Finance, 33, 1920-1931.
  • Saksonova, S. (2014). The Role of Net Interest Margin in Improving Banks’ Asset Structure and Assesing the Stability and Efficiency of Their Operations, 10. International Strategic Menegement Conference, Procedia-Social and Behaioral Sciences, 150, 132-141.
  • Saunders, A. & Schumacher, L. (2000). The Determinants of Bank Interest Rate, Margins: an International Study, Journalof International Money and Finance, 19, 813-832.
  • Tarus, D.K., Chekol, Y.B. & Mutwol, M. (2012). Determinants of Net Interest Margins of Commercial Banks in Kenya: A Panel Study, Procedia Economics and Finance 2(2012), 199-208.
  • Trinugroho, I., Risfandy, T. & Ariefianto, M.D. (2018). Competition, Diversification and Bank Margins: Evidence form Indonesian Islamic Rural Banks, Borsa Istanbul Review, 18-4, 349-358.
  • Türker Kaya, Y. (2001). Türk Bankacılık Sisteminde Net Faiz Marjının Modellenmesi, BDDK MSPD Çalışma Raporları, 2001/4.
  • Yüksel, S. & Zengin, S (2017). Influencing Factors of Net Interest Margin in Turkish Banking Sector, International Journal of Economics and Financial Issues, 7(1), 178-191.
  • Zhou, K. & Wong, M.C.S. (2008). The Determinants of Net Interest Margins of Commercial Banks in Mainland China, Emerging Markets Finance&Trade, September-October 2008, 44(5), 41-53.

Ayrıntılar

Birincil Dil Türkçe
Konular Sosyal
Bölüm Makaleler
Yazarlar

Gamze GÖÇMEN YAĞCILAR (Sorumlu Yazar)
SÜLEYMAN DEMİREL ÜNİVERSİTESİ, İKTİSADİ VE İDARİ BİLİMLER FAKÜLTESİ
0000-0002-5009-4696
Türkiye


Şeref KALAYCI
KARADENİZ TEKNİK ÜNİVERSİTESİ, İKTİSADİ VE İDARİ BİLİMLER FAKÜLTESİ
0000-0001-5439-0858
Türkiye

Yayımlanma Tarihi 30 Haziran 2020
Yayınlandığı Sayı Yıl 2020, Cilt 10, Sayı 19

Kaynak Göster

Bibtex @araştırma makalesi { sbed585470, journal = {Karadeniz Teknik Üniversitesi Sosyal Bilimler Enstitüsü Sosyal Bilimler Dergisi}, issn = {}, eissn = {2146-3727}, address = {}, publisher = {Karadeniz Teknik Üniversitesi}, year = {2020}, volume = {10}, pages = {7 - 34}, doi = {}, title = {TÜRK BANKACILIK SEKTÖRÜNDE NET FAİZ MARJININ MİKRO-BELİRLEYİCİLERİ: KÜRESEL MALİ KRİZİN ETKİLERİ}, key = {cite}, author = {Göçmen Yağcılar, Gamze and Kalaycı, Şeref} }
APA Göçmen Yağcılar, G. & Kalaycı, Ş. (2020). TÜRK BANKACILIK SEKTÖRÜNDE NET FAİZ MARJININ MİKRO-BELİRLEYİCİLERİ: KÜRESEL MALİ KRİZİN ETKİLERİ . Karadeniz Teknik Üniversitesi Sosyal Bilimler Enstitüsü Sosyal Bilimler Dergisi , 10 (19) , 7-34 . Retrieved from https://dergipark.org.tr/tr/pub/sbed/issue/55569/585470
MLA Göçmen Yağcılar, G. , Kalaycı, Ş. "TÜRK BANKACILIK SEKTÖRÜNDE NET FAİZ MARJININ MİKRO-BELİRLEYİCİLERİ: KÜRESEL MALİ KRİZİN ETKİLERİ" . Karadeniz Teknik Üniversitesi Sosyal Bilimler Enstitüsü Sosyal Bilimler Dergisi 10 (2020 ): 7-34 <https://dergipark.org.tr/tr/pub/sbed/issue/55569/585470>
Chicago Göçmen Yağcılar, G. , Kalaycı, Ş. "TÜRK BANKACILIK SEKTÖRÜNDE NET FAİZ MARJININ MİKRO-BELİRLEYİCİLERİ: KÜRESEL MALİ KRİZİN ETKİLERİ". Karadeniz Teknik Üniversitesi Sosyal Bilimler Enstitüsü Sosyal Bilimler Dergisi 10 (2020 ): 7-34
RIS TY - JOUR T1 - TÜRK BANKACILIK SEKTÖRÜNDE NET FAİZ MARJININ MİKRO-BELİRLEYİCİLERİ: KÜRESEL MALİ KRİZİN ETKİLERİ AU - Gamze Göçmen Yağcılar , Şeref Kalaycı Y1 - 2020 PY - 2020 N1 - DO - T2 - Karadeniz Teknik Üniversitesi Sosyal Bilimler Enstitüsü Sosyal Bilimler Dergisi JF - Journal JO - JOR SP - 7 EP - 34 VL - 10 IS - 19 SN - -2146-3727 M3 - UR - Y2 - 2020 ER -
EndNote %0 Karadeniz Teknik Üniversitesi Sosyal Bilimler Enstitüsü Sosyal Bilimler Dergisi TÜRK BANKACILIK SEKTÖRÜNDE NET FAİZ MARJININ MİKRO-BELİRLEYİCİLERİ: KÜRESEL MALİ KRİZİN ETKİLERİ %A Gamze Göçmen Yağcılar , Şeref Kalaycı %T TÜRK BANKACILIK SEKTÖRÜNDE NET FAİZ MARJININ MİKRO-BELİRLEYİCİLERİ: KÜRESEL MALİ KRİZİN ETKİLERİ %D 2020 %J Karadeniz Teknik Üniversitesi Sosyal Bilimler Enstitüsü Sosyal Bilimler Dergisi %P -2146-3727 %V 10 %N 19 %R %U
ISNAD Göçmen Yağcılar, Gamze , Kalaycı, Şeref . "TÜRK BANKACILIK SEKTÖRÜNDE NET FAİZ MARJININ MİKRO-BELİRLEYİCİLERİ: KÜRESEL MALİ KRİZİN ETKİLERİ". Karadeniz Teknik Üniversitesi Sosyal Bilimler Enstitüsü Sosyal Bilimler Dergisi 10 / 19 (Haziran 2020): 7-34 .
AMA Göçmen Yağcılar G. , Kalaycı Ş. TÜRK BANKACILIK SEKTÖRÜNDE NET FAİZ MARJININ MİKRO-BELİRLEYİCİLERİ: KÜRESEL MALİ KRİZİN ETKİLERİ. KTÜSBD. 2020; 10(19): 7-34.
Vancouver Göçmen Yağcılar G. , Kalaycı Ş. TÜRK BANKACILIK SEKTÖRÜNDE NET FAİZ MARJININ MİKRO-BELİRLEYİCİLERİ: KÜRESEL MALİ KRİZİN ETKİLERİ. Karadeniz Teknik Üniversitesi Sosyal Bilimler Enstitüsü Sosyal Bilimler Dergisi. 2020; 10(19): 7-34.
IEEE G. Göçmen Yağcılar ve Ş. Kalaycı , "TÜRK BANKACILIK SEKTÖRÜNDE NET FAİZ MARJININ MİKRO-BELİRLEYİCİLERİ: KÜRESEL MALİ KRİZİN ETKİLERİ", Karadeniz Teknik Üniversitesi Sosyal Bilimler Enstitüsü Sosyal Bilimler Dergisi, c. 10, sayı. 19, ss. 7-34, Haz. 2020

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