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DOI :10.26650/ISTJECON2021-1070542   IUP :10.26650/ISTJECON2021-1070542    Full Text (PDF)

The Lending Behavior of Investment and Development Banks in Turkiye: Evidence from Quantile Regression Approach

Fatih Kayhan, Onur Özdemir

The major aim of this paper is to analyze the extent to which the lending behavior of 14 investment and development banks in Turkiye is responsive to different quantiles of selected three core variables (i.e., (i) non-performing loans/total cash loans ratio (%), (ii) net profit/equity ratio (%), and (iii) liabilities/equity ratio (%)) for the period between 2005/January and 2020/December. The estimation of a change in the degree of lending behavior, proxied by total loans/total assets ratio (%), is stimulated through an endogenous model where different quantile regression models are performed to examine the miscellaneous relationship among the selected variables and to correct potential diagnostic problems stemming from the endogeneous regressors in the panel data analysis. The empirical results imply that there are two fundamental outputs produced in regression analyses: On the one hand, the lending behavior is affected only by the nonperforming loans/total cash loans ratio with a negative coefficient sign and the liabilities/equity ratio with a positive coefficient sign, mostly at the lowest quantiles. On the other hand, the highest quantiles showed that the coefficients of these variables are insignificant. In addition, the net profit/equity ratio is only significant with a negative coefficient sign in limited quantiles. This means that there is a mild heterogeneity of statistically significant variables across different quantiles where the lowest quartile of lending behavior of investment and development banks is not confronted with the higher level of financial activities.

Keywords: Investment and development banks, Lending behavior, Financial markets, Turkish economy, Quantile regression approach
JEL Classification : E00 , F31 , G21 , G24
DOI :10.26650/ISTJECON2021-1070542   IUP :10.26650/ISTJECON2021-1070542    Full Text (PDF)

Türkiye’de Yatırım ve Kalkınma Bankalarının Kredi Verme Davranışı: Nicel Regresyon Yaklaşımından Kanıtlar

Fatih Kayhan, Onur Özdemir

Bu çalışmanın temel amacı, Türkiye’deki 14 yatırım ve kalkınma bankasının kredi verme davranışının, seçilen üç temel değişkenin farklı niceliklerine ne ölçüde yanıt verdiğini analiz etmektir ((i) sorunlu krediler/toplam nakdi krediler oranı, (ii) net kar/özkaynak oranı (%) ve (iii) yükümlülükler/özkaynak oranı (%) (2005/Ocak ve 2020/Aralık dönemi için %)). Toplam krediler/toplam aktifler oranı (%) ile temsil edilen kredi verme davranışı derecesindeki bir değişikliğin tahmini, seçilen değişkenler arasındaki çeşitli ilişkiyi incelemek için ve panel veri analizinde endojen regresörlerden kaynaklanan potansiyel tanısal sorunları düzeltmek için farklı kantil regresyon modellerinin oluşturulduğu içsel bir model aracılığıyla uyarılır. Ampirik sonuçlar, regresyon analizlerinde üretilen iki temel çıktı olduğuna işaret eder: Bir yandan, kredi verme davranışı, çoğunlukla en düşük oranlarda, yalnızca negatif katsayı işaretli sorunlu krediler/toplam nakdi krediler oranından ve pozitif katsayı işaretli yükümlülükler/özkaynak oranından etkilenir. Öte yandan, en yüksek kantiller bu değişkenlerin katsayılarının önemsiz olduğunu göstermiştir. Ek olarak, net kar/özkaynak oranı sadece sınırlı niceliklerde negatif bir katsayı işareti ile anlamlıdır. Bir başka deyişle, istatistiksel olarak anlamlı değişkenlerin hafif bir heterojenliği söz konusudur.

Keywords: Yatırım ve kalkınma bankaları, Kredi verme davranışı, Finansal piyasalar, Turkiye ekonomisi, Nicel regresyon yaklaşım
JEL Classification : E00 , F31 , G21 , G24

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APA

Kayhan, F., & Özdemir, O. (2022). The Lending Behavior of Investment and Development Banks in Turkiye: Evidence from Quantile Regression Approach. Istanbul Journal of Economics, 72(1), 239-267. https://doi.org/10.26650/ISTJECON2021-1070542


AMA

Kayhan F, Özdemir O. The Lending Behavior of Investment and Development Banks in Turkiye: Evidence from Quantile Regression Approach. Istanbul Journal of Economics. 2022;72(1):239-267. https://doi.org/10.26650/ISTJECON2021-1070542


ABNT

Kayhan, F.; Özdemir, O. The Lending Behavior of Investment and Development Banks in Turkiye: Evidence from Quantile Regression Approach. Istanbul Journal of Economics, [Publisher Location], v. 72, n. 1, p. 239-267, 2022.


Chicago: Author-Date Style

Kayhan, Fatih, and Onur Özdemir. 2022. “The Lending Behavior of Investment and Development Banks in Turkiye: Evidence from Quantile Regression Approach.” Istanbul Journal of Economics 72, no. 1: 239-267. https://doi.org/10.26650/ISTJECON2021-1070542


Chicago: Humanities Style

Kayhan, Fatih, and Onur Özdemir. “The Lending Behavior of Investment and Development Banks in Turkiye: Evidence from Quantile Regression Approach.” Istanbul Journal of Economics 72, no. 1 (Jun. 2023): 239-267. https://doi.org/10.26650/ISTJECON2021-1070542


Harvard: Australian Style

Kayhan, F & Özdemir, O 2022, 'The Lending Behavior of Investment and Development Banks in Turkiye: Evidence from Quantile Regression Approach', Istanbul Journal of Economics, vol. 72, no. 1, pp. 239-267, viewed 11 Jun. 2023, https://doi.org/10.26650/ISTJECON2021-1070542


Harvard: Author-Date Style

Kayhan, F. and Özdemir, O. (2022) ‘The Lending Behavior of Investment and Development Banks in Turkiye: Evidence from Quantile Regression Approach’, Istanbul Journal of Economics, 72(1), pp. 239-267. https://doi.org/10.26650/ISTJECON2021-1070542 (11 Jun. 2023).


MLA

Kayhan, Fatih, and Onur Özdemir. “The Lending Behavior of Investment and Development Banks in Turkiye: Evidence from Quantile Regression Approach.” Istanbul Journal of Economics, vol. 72, no. 1, 2022, pp. 239-267. [Database Container], https://doi.org/10.26650/ISTJECON2021-1070542


Vancouver

Kayhan F, Özdemir O. The Lending Behavior of Investment and Development Banks in Turkiye: Evidence from Quantile Regression Approach. Istanbul Journal of Economics [Internet]. 11 Jun. 2023 [cited 11 Jun. 2023];72(1):239-267. Available from: https://doi.org/10.26650/ISTJECON2021-1070542 doi: 10.26650/ISTJECON2021-1070542


ISNAD

Kayhan, Fatih - Özdemir, Onur. “The Lending Behavior of Investment and Development Banks in Turkiye: Evidence from Quantile Regression Approach”. Istanbul Journal of Economics 72/1 (Jun. 2023): 239-267. https://doi.org/10.26650/ISTJECON2021-1070542



TIMELINE


Submitted09.02.2022
Accepted09.06.2022
Published Online30.06.2022

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