The Impact of the COSO Enterprise Risk Management Framework on Credit Risk: Evidence from the Turkish Banking Sector

Öz

This study examines the impact of the COSO Enterprise Risk Management (ERM) framework on credit risk in the Turkish banking sector. The five core components defined in the 2017 update of COSO ERM -“Governance and Culture,” “Strategy and Objective-Setting,” “Performance,” “Review and Revision,” and “Information, Communication, and Reporting”- were analyzed by aligning them with bank-level governance and financial indicators. Data from nine deposit banks operating on Borsa İstanbul between 2017 and 2024 were analyzed using panel data methods. Empirical findings revealed that the "Information, Communication, and Reporting" and "Performance" components established significant relationships with credit risk, while the effects of "Performance" and "Governance" varied depending on bank structure and implementation. These results indicate that not only the structural presence of COSO, but also its integration and application level, is decisive in risk management. The study’s unique contribution is being among the first in Türkiye to empirically test the relationship between COSO ERM and credit risk using panel data analysis. In this respect, it provides an original contribution to corporate risk management literature by offering evidence-based insights into COSO ERM’s effectiveness.

Anahtar Kelimeler

• Enterprise Risk Management
• COSO Enterprise Risk Management Framework
• Türkiye

COSO Kurumsal Risk Yönetimi Çerçevesinin Kredi Riski Üzerindeki Etkisi: Türk Bankacılık Sektörü Örneği

Öz

Bu çalışma, COSO kurumsal risk yönetimi (ERM) çerçevesinin kredi riski üzerindeki etkisini Türkiye bankacılık sektörü özelinde incelemeyi amaçlamaktadır. COSO ERM’nin 2017 güncellemesiyle tanımlanan beş temel bileşen “Yönetişim ve Kültür”, “Strateji ve Hedef Belirleme”, “Performans”, “Gözden Geçirme ve Revizyon” ile “Bilgi, İletişim ve Raporlama” banka düzeyindeki yönetişimsel ve finansal göstergelerle eşleştirilerek analiz edilmiştir. Araştırma kapsamında, 2017 - 2024 yılları arasında Borsa İstanbul’da faaliyet gösteren dokuz mevduat bankasına ait veriler panel veri analizi yöntemi kullanılarak analiz edilmiştir. Ampirik bulgular, özellikle “Bilgi, İletişim ve Raporlama” ile “Performans” bileşenlerinin kredi riskiyle anlamlı ilişkiler kurabildiğini ortaya koyarken; “Performans” ve “Yönetişim” bileşenlerinin etkisi ise banka yapısına ve uygulama düzeyine bağlı olarak değişkenlik göstermiştir. COSO’nun sadece yapısal varlığı değil, uygulama ve entegrasyon düzeyi de risk yönetiminde belirleyici olmuştur. Çalışmanın özgün katkısı, Türkiye’de COSO ERM çerçevesi ile kredi riski arasındaki ilişkiyi panel veri yöntemiyle inceleyen ilk akademik çalışmalardan biri olmasıdır. Bu yönüyle çalışma, COSO ERM’nin ampirik olarak test edilmesine olanak sağlayarak, kurumsal risk yönetimi alanına özgün katkı sunmayı amaçlamaktadır.

Anahtar Kelimeler

• Kurumsal Risk Yönetimi,
• COSO Kurumsal Risk Yönetim Modeli,
• Türkiye,
• Panel Veri

Kaynakça

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