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Küresel Finansal Kriz, Covid-19 Pandemisi ve Banka Sahiplik Yapısının Türkiye'deki Takipteki Krediler Üzerindeki Etkileri

Yıl 2023, Cilt: 41 Sayı: 2, 316 - 333, 15.06.2023
https://doi.org/10.17065/huniibf.1113344

Öz

Sistem Genelleştirilmiş Momentler Yöntemi ile 2002-2020 dönemi için 23 mevduat bankasının verilerini kullanan bu çalışma, Türkiye'deki takipteki kredilerin bankaya özgü ve makroekonomik belirleyicilerini incelemeyi amaçlamaktadır. İyi çalısan bir bankacılık sistemi için takipteki kredilerin ampirik belirleyicilerini tespit etmek önemlidir. Bu kapsamda özellikle küresel finansal krizin, Covid-19 salgınının ve banka sahiplik yapısının takipteki krediler üzerindeki etkilerine odaklanılmaktadır. Ek bilgi sağlamak için, incelenen periyot kriz öncesi ve kriz sonrası dönemler olarak ikiye ayrılmıştır. Sonuçlar, takipteki kredilerin açıklanmasında hem bankaya özgü hem de makroekonomik faktörlerin önemli bir rol oynadığını göstermektedir. Ayrıca, son küresel mali krizin önemli bir etkisi olduğuna dair herhangi bir kanıt bulunmazken, Covid-19 pandemisinin olumsuz etkisi gözlemlenmiştir. Daha da ilginci, banka sahiplik yapısının takipteki krediler üzerinde önemli bir etkisi olmadığıdır. Ayrıca, takipteki kredilerin belirleyicileri kriz öncesi ve kriz sonrası dönemlerde büyük farklılıklar göstermektedir. Güçlü bir bankacılık ve finansal sistemin finansal kaynakların etkin dağılımı ve böylece makroekonomik istikrar konusunda önemli bir rol oynayabileceği düşünülmektedir.

Kaynakça

  • Abdioglu, N., & Aytekin, S. (2016). Assessing the factors that impact non-performing loan ratio: An application on deposit banks by using dynamic panel data. Journal of Business Research Turk, 8(1) 538-55.
  • Afşar, M. (2011). Küresel kriz ve Türk bankacılık sektörüne yansımaları. Eskişehir Osmangazi Üniversitesi İİBF Dergisi, 6(2), 143‐171. Retrieved from https://dergipark.org.tr/tr/pub/oguiibf/issue/5718/76546
  • Arellano, M., & Bond, S. (1991). Some tests of specification for panel data: Monte Carlo evidence and an application to employment equations. The Review of Economic Studies, 58(2), 277-297. https://doi.org/10.2307/2297968
  • Arellano, M., & Bover, O. (1995). Another look at the instrumental variable estimation of error-components models. Journal of Econometrics, 68, 29-51. https://doi.org/10.1016/0304-4076(94)01642-D
  • Athanasoglou, P., Brissimis, S. N., & Delis, M. D. (2008). Bank-Specific, industry specific and macroeconomic determinants of bank profitability. Journal of International Financial Markets, Institutions and Money, 18, 121–136. https://doi.org/10.1016/j.intfin.2006.07.001
  • Ayaydin, H., Pilatin, A., & Barut, A. (2021). Takipteki kredilerin bankaya özgü, finansal ve makroekonomik belirleyicileri: Türkiye örneği. Uluslararası İktisadi ve İdari İncelemeler Dergisi, 33, 169-186. https://doi.org/10.18092/ulikidince.1013685
  • Balgova, M., Nies, M., & Plekhanov, A. (2016). The economic impact of reducing non-performing loans. European Bank for Reconstruction and Development Working Paper, 193. http://dx.doi.org/10.2139/ssrn.3119677
  • Banking Regulation and Supervision Agency. (2009). From crisis to financial stability (Turkey Experience), December 29.
  • Barseghyan, L. (2010). Non-Performing loans, prospective bailouts and Japan’s slowdown. Journal of Monetary Economics, 57(7), 873-890. https://doi.org/10.1016/j.jmoneco.2010.08.002
  • Beck, R., Jakubik, P., & Piloiu A. (2013). Non-Performing loans: What matters in addition to the economic cycle?. ECB Working Paper Series, 1515, 1-32. http://dx.doi.org/10.2139/ssrn.2214971
  • Beck, R., Jakubik, P., & Piloiu, A. (2015). Key determinants of non-performing loans: New evidence from a global sample. Open Economies Review, 26, 525–550. https://doi.org/10.1007/s11079-015-9358-8
  • Berger, A. N., & DeYoung, R. (1997). Problem loans and cost efficiency in commercial banks. Journal of Banking and Finance, 21(6), 849-870. https://doi.org/10.1016/S0378-4266(97)00003-4 Blundell, R., & Bond, S. (1998). Initial conditions and moment restrictions in dynamic panel data models. Journal of econometrics, 87(1), 115-143. https://doi.org/10.1016/S0304-4076(98)00009-8
  • Dash, M., & Kabra, G. (2010). The determinants of non-performing assets in Indian commercial bank: An econometric study. Middle Eastern Finance and Economics, 7, 94-106.
  • Dietrich, A., & Wanzenried, G. (2011). Determinants of bank profitability before and during the crisis: Evidence from Switzerland. Journal of International Financial Markets. Institutions & Money, 21, 307-327. https://doi.org/10.1016/j.intfin.2010.11.002
  • Erdas, M. (2019). Do macroeconomic variables have a symmetric or asymmetric effect on non-performing loans? Evidence from Turkey. Mehmet Akif Ersoy Üniversitesi İktisadi ve İdari Bilimler Fakültesi Dergisi, 6(2), 370-392. https://doi.org/10.30798/makuiibf.518076
  • Ersoy, E. (2021). The determinants of the non-performing loans: the case of Turkish banking sector. International Journal of Insurance and Finance, 1(2), 1-11. https://doi.org/10.52898/ijif.2021.6
  • Espinoza, R., & Prasad, A. (2010). Non-Performing loans in the GCC banking system and their macroeconomic effects. International Monetary Fund Working Paper, 10/224.
  • Fernandez de Lis, S., Pagés, J. M., & Saurina, J. (2000). Credit growth, problem loans and credit risk provisioning in Spain. Banco de Espana Working Paper, 18.
  • García-Herrero, A., Gavilá, S., & Santabárbara, D. (2009). What explains the low profitability of Chinese banks? Journal of Banking and Finance 33(11), 2080-2092. https://doi.org/10.1016/j.jbankfin.2009.05.005
  • García-Marco, T., & Robles-Fernández, M. D. (2008). Risk-Taking behavior and ownership in the banking ındustry: The Spanish evidence. Journal of Economics and Business, 60(4), 332-354. https://doi.org/10.1016/j.jeconbus.2007.04.008
  • Ghosh, A. (2015). Banking-industry specific and regional economic determinants of non-performing loans: Evidence from US states. Journal of Financial Stabiloulity, 20, 93-104. https://doi.org/10.1016/j.jfs.2015.08.004
  • Girardone, C., Molyneux, P., & Gardener E.P.M. (2004). Analyzing the determinants of bank efficiency: The case of Italian banks. Applied Economics, 36, 215–227. https://doi.org/10.1080/0003684042000175334
  • Hasan, I., & Wall, L. D. (2004). Determinants of the loan loss allowance: Some cross-country comparison. The Financial Review, 39(1), 129-152. https://doi.org/10.1111/j.0732-8516.2004.00070.x
  • Hasanov, F. J., Bayramli, N., & Al-Musehel, N. (2018). Bank-Specific and macroeconomic determinants of bank profitability: Evidence from an oil-dependent economy. International Journal of Financial Studies, 6(78), 1-21. https://doi.org/10.3390/ijfs6030078
  • Hausmann, R., Panizza, U., & Stein, E. (2001). Why do countries float the way they float? Journal of Development Economics, 66(2), 387-414. https://doi.org/10.1016/S0304-3878(01)00168-7
  • Hu, J. (2002). Ownership and loans: Evidence from Taiwanese banks and non-performing loans: Evidence from Taiwanese banks. Wiley Online Library, 3, 405-420.
  • Hu, J. L., Li, Y., & Chiu, Y. H. (2004). Ownership and non-performing loans: Evidence from Taiwan’s banks. The Developing Economies, 42(3), 405-420. https://doi.org/10.1111/j.1746-1049.2004.tb00945.x
  • Hwang, J., & Sun, Y. (2018) Should we go one step further? An accurate comparison of one-step and two-step procedures in a generalized method of moments framework. Journal of Econometrics, 207(2), 381-405. https://doi.org/10.1016/j.jeconom.2018.07.006
  • Iannotta, G., Nocera, G., & Sironi, A. (2007). Ownership structure, risk and performance in the European banking industry. Journal of Banking & Finance, 31(7), 2127–2149. https://doi.org/10.1016/j.jbankfin.2006.07.013
  • Isik, O., & Bolat, S. (2016). Determinants of non-performing loans of deposit banks in Turkey. Journal of Business Economics and Finance, 5(4), 341-350. https://doi.org/10.17261/Pressacademia.2017.356
  • Kartal, M. T., Depren, Ö., & Depren, S. K. (2020). Determination of influential financial factors on non-performing loans: Evidence from Turkey. International Journal of Monetary Economics and Finance, 13(6), 569–584. https://doi.org/10.1504/IJMEF.2020.112193
  • Keeton, W. R., & Morris, C. S. (1987). Why do banks’ loan losses differ?. Federal Reserve bank of Kansas city, Economic Review, 72(5), 3-21.
  • Khemraj, T., & Pasha, S. (2009). The determinants of non-performing loans: An econometric case study of Guyana. MPRA Paper, No. 53128.
  • Kishan, R., & Opiela, T. (2000). Bank size, bank capital, and the bank lending channel. Journal of Money, Credit and Banking, 32(1), 121-141. https://doi.org/10.2307/2601095
  • Louzis, D. P., Vouildis, A. T., & Metaxas, V. L. (2012). Macroeconomic and bank-specific determinants of non-performing loans in Greece: A comparative study of mortgage, business and consumer loan portfolios. Journal of Banking and Finance, 36(4), 1012-1027. https://doi.org/10.1016/j.jbankfin.2011.10.012
  • Messai, A. S., & Jouini, F. (2013). Micro and macro determinants of non-performing loans. International Journal of Economics and Financial Issues, 3, 852-860. Retrieved from https://www.econjournals.com/index.php/ijefi/article/view/517
  • Micco, A., Panizza, U. & Yanez, M. (2007). Bank ownership and performance: does politics matter? Journal of Banking and Finance, 31, 219-241. https://doi.org/10.1016/j.jbankfin.2006.02.007 Michael, J. N. (2006). Effect of non-performing assets on operational efficiency of central co-operative banks. Indian Economic Panorama, 16(3), 33-34 & 39.
  • Mohaddes, K., Raissi M., & Weber, A. (2017). Can Italy grow out of its NPL overhang? A panel threshold analysis. IMF Working Paper, 17/66.
  • Moinescu, B., & Codirlaşu, A. (2012). Assessing the sectoral dynamics of non-performing loans: Signs from financial and real economy. Theoretical and Applied Economics, 19(2), 69-80. Nickell, S. (1981). Biases in Dynamic Models with Fixed Effects. Econometrica, 49(6), 1417–1426. https://doi.org/10.2307/1911408
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THE EFFECTS OF GLOBAL FINANCIAL CRISIS, COVID-19 PANDEMIC, AND BANK OWNERSHIP STRUCTURE ON NON-PERFORMING LOANS IN TURKEY

Yıl 2023, Cilt: 41 Sayı: 2, 316 - 333, 15.06.2023
https://doi.org/10.17065/huniibf.1113344

Öz

Using System Generalized Method of Moments and data for 23 deposit banks over the period 2002-2020 this study aims to investigate the bank-specific and macroeconomic determinants of non-performing loans in Turkey. For a well-functioning banking system, it is important to understand the empirical determinants of non-performing loans. In this context, we particularly focus on the effects of global financial crisis, Covid-19 pandemic, and bank ownership structure on non-performing loans. To provide additional insights, we divide our sample into two as the pre-crisis and post-crisis periods. Our results indicate that both bank-specific and macroeconomic factors play a significant role in explaining the non-performing loans. Moreover, we find a negative impact of Covid-19 pandemic while there is no evidence for any significant impact of the last global financial crisis. More interesting is to note that bank ownership structure does not exert any significant effect on non-performing loans. Furthermore, the determinants of non-performing loans greatly differ in pre-crisis and post-crisis periods. We think that a sound banking and financial system would play a decisive role for allocating financial resources and thus supporting macroeconomic stability.

Kaynakça

  • Abdioglu, N., & Aytekin, S. (2016). Assessing the factors that impact non-performing loan ratio: An application on deposit banks by using dynamic panel data. Journal of Business Research Turk, 8(1) 538-55.
  • Afşar, M. (2011). Küresel kriz ve Türk bankacılık sektörüne yansımaları. Eskişehir Osmangazi Üniversitesi İİBF Dergisi, 6(2), 143‐171. Retrieved from https://dergipark.org.tr/tr/pub/oguiibf/issue/5718/76546
  • Arellano, M., & Bond, S. (1991). Some tests of specification for panel data: Monte Carlo evidence and an application to employment equations. The Review of Economic Studies, 58(2), 277-297. https://doi.org/10.2307/2297968
  • Arellano, M., & Bover, O. (1995). Another look at the instrumental variable estimation of error-components models. Journal of Econometrics, 68, 29-51. https://doi.org/10.1016/0304-4076(94)01642-D
  • Athanasoglou, P., Brissimis, S. N., & Delis, M. D. (2008). Bank-Specific, industry specific and macroeconomic determinants of bank profitability. Journal of International Financial Markets, Institutions and Money, 18, 121–136. https://doi.org/10.1016/j.intfin.2006.07.001
  • Ayaydin, H., Pilatin, A., & Barut, A. (2021). Takipteki kredilerin bankaya özgü, finansal ve makroekonomik belirleyicileri: Türkiye örneği. Uluslararası İktisadi ve İdari İncelemeler Dergisi, 33, 169-186. https://doi.org/10.18092/ulikidince.1013685
  • Balgova, M., Nies, M., & Plekhanov, A. (2016). The economic impact of reducing non-performing loans. European Bank for Reconstruction and Development Working Paper, 193. http://dx.doi.org/10.2139/ssrn.3119677
  • Banking Regulation and Supervision Agency. (2009). From crisis to financial stability (Turkey Experience), December 29.
  • Barseghyan, L. (2010). Non-Performing loans, prospective bailouts and Japan’s slowdown. Journal of Monetary Economics, 57(7), 873-890. https://doi.org/10.1016/j.jmoneco.2010.08.002
  • Beck, R., Jakubik, P., & Piloiu A. (2013). Non-Performing loans: What matters in addition to the economic cycle?. ECB Working Paper Series, 1515, 1-32. http://dx.doi.org/10.2139/ssrn.2214971
  • Beck, R., Jakubik, P., & Piloiu, A. (2015). Key determinants of non-performing loans: New evidence from a global sample. Open Economies Review, 26, 525–550. https://doi.org/10.1007/s11079-015-9358-8
  • Berger, A. N., & DeYoung, R. (1997). Problem loans and cost efficiency in commercial banks. Journal of Banking and Finance, 21(6), 849-870. https://doi.org/10.1016/S0378-4266(97)00003-4 Blundell, R., & Bond, S. (1998). Initial conditions and moment restrictions in dynamic panel data models. Journal of econometrics, 87(1), 115-143. https://doi.org/10.1016/S0304-4076(98)00009-8
  • Dash, M., & Kabra, G. (2010). The determinants of non-performing assets in Indian commercial bank: An econometric study. Middle Eastern Finance and Economics, 7, 94-106.
  • Dietrich, A., & Wanzenried, G. (2011). Determinants of bank profitability before and during the crisis: Evidence from Switzerland. Journal of International Financial Markets. Institutions & Money, 21, 307-327. https://doi.org/10.1016/j.intfin.2010.11.002
  • Erdas, M. (2019). Do macroeconomic variables have a symmetric or asymmetric effect on non-performing loans? Evidence from Turkey. Mehmet Akif Ersoy Üniversitesi İktisadi ve İdari Bilimler Fakültesi Dergisi, 6(2), 370-392. https://doi.org/10.30798/makuiibf.518076
  • Ersoy, E. (2021). The determinants of the non-performing loans: the case of Turkish banking sector. International Journal of Insurance and Finance, 1(2), 1-11. https://doi.org/10.52898/ijif.2021.6
  • Espinoza, R., & Prasad, A. (2010). Non-Performing loans in the GCC banking system and their macroeconomic effects. International Monetary Fund Working Paper, 10/224.
  • Fernandez de Lis, S., Pagés, J. M., & Saurina, J. (2000). Credit growth, problem loans and credit risk provisioning in Spain. Banco de Espana Working Paper, 18.
  • García-Herrero, A., Gavilá, S., & Santabárbara, D. (2009). What explains the low profitability of Chinese banks? Journal of Banking and Finance 33(11), 2080-2092. https://doi.org/10.1016/j.jbankfin.2009.05.005
  • García-Marco, T., & Robles-Fernández, M. D. (2008). Risk-Taking behavior and ownership in the banking ındustry: The Spanish evidence. Journal of Economics and Business, 60(4), 332-354. https://doi.org/10.1016/j.jeconbus.2007.04.008
  • Ghosh, A. (2015). Banking-industry specific and regional economic determinants of non-performing loans: Evidence from US states. Journal of Financial Stabiloulity, 20, 93-104. https://doi.org/10.1016/j.jfs.2015.08.004
  • Girardone, C., Molyneux, P., & Gardener E.P.M. (2004). Analyzing the determinants of bank efficiency: The case of Italian banks. Applied Economics, 36, 215–227. https://doi.org/10.1080/0003684042000175334
  • Hasan, I., & Wall, L. D. (2004). Determinants of the loan loss allowance: Some cross-country comparison. The Financial Review, 39(1), 129-152. https://doi.org/10.1111/j.0732-8516.2004.00070.x
  • Hasanov, F. J., Bayramli, N., & Al-Musehel, N. (2018). Bank-Specific and macroeconomic determinants of bank profitability: Evidence from an oil-dependent economy. International Journal of Financial Studies, 6(78), 1-21. https://doi.org/10.3390/ijfs6030078
  • Hausmann, R., Panizza, U., & Stein, E. (2001). Why do countries float the way they float? Journal of Development Economics, 66(2), 387-414. https://doi.org/10.1016/S0304-3878(01)00168-7
  • Hu, J. (2002). Ownership and loans: Evidence from Taiwanese banks and non-performing loans: Evidence from Taiwanese banks. Wiley Online Library, 3, 405-420.
  • Hu, J. L., Li, Y., & Chiu, Y. H. (2004). Ownership and non-performing loans: Evidence from Taiwan’s banks. The Developing Economies, 42(3), 405-420. https://doi.org/10.1111/j.1746-1049.2004.tb00945.x
  • Hwang, J., & Sun, Y. (2018) Should we go one step further? An accurate comparison of one-step and two-step procedures in a generalized method of moments framework. Journal of Econometrics, 207(2), 381-405. https://doi.org/10.1016/j.jeconom.2018.07.006
  • Iannotta, G., Nocera, G., & Sironi, A. (2007). Ownership structure, risk and performance in the European banking industry. Journal of Banking & Finance, 31(7), 2127–2149. https://doi.org/10.1016/j.jbankfin.2006.07.013
  • Isik, O., & Bolat, S. (2016). Determinants of non-performing loans of deposit banks in Turkey. Journal of Business Economics and Finance, 5(4), 341-350. https://doi.org/10.17261/Pressacademia.2017.356
  • Kartal, M. T., Depren, Ö., & Depren, S. K. (2020). Determination of influential financial factors on non-performing loans: Evidence from Turkey. International Journal of Monetary Economics and Finance, 13(6), 569–584. https://doi.org/10.1504/IJMEF.2020.112193
  • Keeton, W. R., & Morris, C. S. (1987). Why do banks’ loan losses differ?. Federal Reserve bank of Kansas city, Economic Review, 72(5), 3-21.
  • Khemraj, T., & Pasha, S. (2009). The determinants of non-performing loans: An econometric case study of Guyana. MPRA Paper, No. 53128.
  • Kishan, R., & Opiela, T. (2000). Bank size, bank capital, and the bank lending channel. Journal of Money, Credit and Banking, 32(1), 121-141. https://doi.org/10.2307/2601095
  • Louzis, D. P., Vouildis, A. T., & Metaxas, V. L. (2012). Macroeconomic and bank-specific determinants of non-performing loans in Greece: A comparative study of mortgage, business and consumer loan portfolios. Journal of Banking and Finance, 36(4), 1012-1027. https://doi.org/10.1016/j.jbankfin.2011.10.012
  • Messai, A. S., & Jouini, F. (2013). Micro and macro determinants of non-performing loans. International Journal of Economics and Financial Issues, 3, 852-860. Retrieved from https://www.econjournals.com/index.php/ijefi/article/view/517
  • Micco, A., Panizza, U. & Yanez, M. (2007). Bank ownership and performance: does politics matter? Journal of Banking and Finance, 31, 219-241. https://doi.org/10.1016/j.jbankfin.2006.02.007 Michael, J. N. (2006). Effect of non-performing assets on operational efficiency of central co-operative banks. Indian Economic Panorama, 16(3), 33-34 & 39.
  • Mohaddes, K., Raissi M., & Weber, A. (2017). Can Italy grow out of its NPL overhang? A panel threshold analysis. IMF Working Paper, 17/66.
  • Moinescu, B., & Codirlaşu, A. (2012). Assessing the sectoral dynamics of non-performing loans: Signs from financial and real economy. Theoretical and Applied Economics, 19(2), 69-80. Nickell, S. (1981). Biases in Dynamic Models with Fixed Effects. Econometrica, 49(6), 1417–1426. https://doi.org/10.2307/1911408
  • Nugroho, M., Arif, D., & Halik, A. (2021). The effect of loan-loss provision, non-performing loans and third-party fund on capital adequacy ratio. Accounting, 7(10), 943–950. https://doi.org/10.5267/j.ac.2021.1.013
  • Ozili, P. K. (2019). Non-performing loans and financial development: New evidence. Journal of Risk Finance, 20(1), 59-81. https://doi.org/10.1108/JRF-07-2017-0112
  • Panopoulou, M. (2005). Technological Change and Corporate Strategy in the Greek Banking Industry. Center of Planning and Economic Research: Athens.
  • Partovi, E., & Matousek, R. (2019). Bank efficiency and non-performing loans: Evidence from Turkey. Research in International Business and Finance, 48, 287-309. https://doi.org/10.1016/j.ribaf.2018.12.011
  • Reinhart, C., & Rogoff, K. (2011). From financial crash to debt crisis. American Economic Review, 101(5), 1676-1706. https://doi.org/10.1257/aer.101.5.1676
  • Rezina, S. (2020). Non-performing loan in Bangladesh: A comparative study on the islamic banks and conventional banks. Indian Journal of Finance and Banking, 4(1), 76-83.
  • Salas, V., & Saurina, J. (2002). Credit risk in two institutional regimes: Spanish commercial and savings banks. Journal of Financial Services Research, 22(3), 203-224.
  • Serrano, A. S. (2021). The impact of non-performing loans on bank lending in Europe: An empirical analysis. The North American Journal of Economics and Finance, 55(101312), 1-19. https://doi.org/10.1016/j.najef.2020.101312
  • Staehr, K., & Uusküla, L. (2020). Macroeconomic and macro-financial factors as leading indicators of non-performing loans: Evidence from the EU countries. Journal of Economic Studies, 48(3), 720-740. https://doi.org/10.1108/JES-03-2019-0107
  • Suryanto, S. (2015). Non-performing loans on regional development bank in Indonesia and factors that influence. Mediterranean Journal of Social Sciences, 4, 280-287. https://doi.org/10.5901/mjss.2015.v6n4p280
  • Turan, T. (2022). Makroekonomik değişkenlerin ve sermaye yapısının Türkiye’de banka kârlılığı üzerindeki etkileri: dinamik panel analiz. Hacettepe Üniversitesi İktisadi ve İdari Bilimler Fakültesi Dergisi, 40(4), 884-902. https://doi.org/10.17065/huniibf.1022971
  • Ullah, S., Akhtar, P., & Zaefarian, G. (2018). Dealing with endogeneity bias: The generalized method of moments (GMM) for panel data. Industrial Marketing Management, 71, 69-78. https://doi.org/10.1016/j.indmarman.2017.11.010
  • Us, V. (2017). A dynamic approach to analysing the effect of the global crisis on non-performing loans: Evidence from the Turkish banking sector. Applied Economics Letters, 24(3), 186-192. https://doi.org/10.1080/13504851.2016.1176106
  • Us, V. (2018). The determinants of non-performing loans before and after the crisis: Challenges and policy implications for Turkish banks. Emerging Markets Finance and Trade, 54(7), 1608-1622. https://doi.org/10.1080/1540496X.2017.1315334
  • Vatansever, M., & Hepsen, A. (2013). Determining impacts on non-performing loan ratio in Turkey. Journal of Finance and Investment Analysis, 2(4), 119-129.
  • Vazquez, F., Tabak, B. M., & Souto, M. (2012). A macro stress test model of credit risk for the Brazilian banking sector. Journal of Financial Stability, 8(2), 69-83. https://doi.org/10.1016/j.jfs.2011.05.002
  • Vithessonthi, C. (2016). Deflation, bank credit growth, and non-performing loans: Evidence from Japan. International Review of Financial Analysis, 45, 295-305. https://doi.org/10.1016/j.irfa.2016.04.003
  • Webel, B., & Labonte, M. (2010). Government interventions in response to financial turmoil. Congressional Research Service, R41073.
  • Windmeijer, F. (2005). A finite sample correction for the variance of linear efficient two-step GMM estimators. Journal of Econometrics, 126(1), 25-51. https://doi.org/10.1016/j.jeconom.2004.02.005
  • Yagli, I., & Topcu M. (2023). Determinants of credit risk in the Turkish banking sector: Does ownership matter? Sosyoekonomi, 31(55), 49-67. https://doi.org/10.17233/sosyoekonomi.2023.01.03
  • Yuksel, Ö. (2011). Makroekonomik değişkenlere dayalı kredi riski modellemesi ve stres testi analizi. [Unpublished Master’s Thesis]. TOBB Ekonomi ve Teknoloji Üniversitesi.
  • Zheng, C., Bhowmik, P. K., & Sarker, N. (2020). Industry-specific and macroeconomic determinants of non-performing loans: A comparative analysis of ARDL and VECM. Sustainability, 12(1-325), 1-17. https://doi.org/10.3390/su12010325
Toplam 61 adet kaynakça vardır.

Ayrıntılar

Birincil Dil İngilizce
Konular Finansal Risk Yönetimi
Bölüm Hacettepe Üniversitesi İktisadi ve İdari Bilimler Fakültesi Dergisi
Yazarlar

Taner Turan 0000-0003-3012-340X

Murat İsmet Haseki 0000-0002-1461-7285

Orhan Emre Elma 0000-0002-3521-3677

Yayımlanma Tarihi 15 Haziran 2023
Gönderilme Tarihi 6 Mayıs 2022
Yayımlandığı Sayı Yıl 2023 Cilt: 41 Sayı: 2

Kaynak Göster

APA Turan, T., Haseki, M. İ., & Elma, O. E. (2023). THE EFFECTS OF GLOBAL FINANCIAL CRISIS, COVID-19 PANDEMIC, AND BANK OWNERSHIP STRUCTURE ON NON-PERFORMING LOANS IN TURKEY. Hacettepe Üniversitesi İktisadi Ve İdari Bilimler Fakültesi Dergisi, 41(2), 316-333. https://doi.org/10.17065/huniibf.1113344
AMA Turan T, Haseki Mİ, Elma OE. THE EFFECTS OF GLOBAL FINANCIAL CRISIS, COVID-19 PANDEMIC, AND BANK OWNERSHIP STRUCTURE ON NON-PERFORMING LOANS IN TURKEY. Hacettepe Üniversitesi İktisadi ve İdari Bilimler Fakültesi Dergisi. Haziran 2023;41(2):316-333. doi:10.17065/huniibf.1113344
Chicago Turan, Taner, Murat İsmet Haseki, ve Orhan Emre Elma. “THE EFFECTS OF GLOBAL FINANCIAL CRISIS, COVID-19 PANDEMIC, AND BANK OWNERSHIP STRUCTURE ON NON-PERFORMING LOANS IN TURKEY”. Hacettepe Üniversitesi İktisadi Ve İdari Bilimler Fakültesi Dergisi 41, sy. 2 (Haziran 2023): 316-33. https://doi.org/10.17065/huniibf.1113344.
EndNote Turan T, Haseki Mİ, Elma OE (01 Haziran 2023) THE EFFECTS OF GLOBAL FINANCIAL CRISIS, COVID-19 PANDEMIC, AND BANK OWNERSHIP STRUCTURE ON NON-PERFORMING LOANS IN TURKEY. Hacettepe Üniversitesi İktisadi ve İdari Bilimler Fakültesi Dergisi 41 2 316–333.
IEEE T. Turan, M. İ. Haseki, ve O. E. Elma, “THE EFFECTS OF GLOBAL FINANCIAL CRISIS, COVID-19 PANDEMIC, AND BANK OWNERSHIP STRUCTURE ON NON-PERFORMING LOANS IN TURKEY”, Hacettepe Üniversitesi İktisadi ve İdari Bilimler Fakültesi Dergisi, c. 41, sy. 2, ss. 316–333, 2023, doi: 10.17065/huniibf.1113344.
ISNAD Turan, Taner vd. “THE EFFECTS OF GLOBAL FINANCIAL CRISIS, COVID-19 PANDEMIC, AND BANK OWNERSHIP STRUCTURE ON NON-PERFORMING LOANS IN TURKEY”. Hacettepe Üniversitesi İktisadi ve İdari Bilimler Fakültesi Dergisi 41/2 (Haziran 2023), 316-333. https://doi.org/10.17065/huniibf.1113344.
JAMA Turan T, Haseki Mİ, Elma OE. THE EFFECTS OF GLOBAL FINANCIAL CRISIS, COVID-19 PANDEMIC, AND BANK OWNERSHIP STRUCTURE ON NON-PERFORMING LOANS IN TURKEY. Hacettepe Üniversitesi İktisadi ve İdari Bilimler Fakültesi Dergisi. 2023;41:316–333.
MLA Turan, Taner vd. “THE EFFECTS OF GLOBAL FINANCIAL CRISIS, COVID-19 PANDEMIC, AND BANK OWNERSHIP STRUCTURE ON NON-PERFORMING LOANS IN TURKEY”. Hacettepe Üniversitesi İktisadi Ve İdari Bilimler Fakültesi Dergisi, c. 41, sy. 2, 2023, ss. 316-33, doi:10.17065/huniibf.1113344.
Vancouver Turan T, Haseki Mİ, Elma OE. THE EFFECTS OF GLOBAL FINANCIAL CRISIS, COVID-19 PANDEMIC, AND BANK OWNERSHIP STRUCTURE ON NON-PERFORMING LOANS IN TURKEY. Hacettepe Üniversitesi İktisadi ve İdari Bilimler Fakültesi Dergisi. 2023;41(2):316-33.

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