Which firms engage small, foreign, or state banks? And who goes Islamic? Evidence from Turkey

Date

2011-12-01

Author

Ongena, Steven
Şendeniz Yüncü, İlkay

Metadata

Show full item record

This work is licensed under a Creative Commons Attribution-NonCommercial-NoDerivatives 4.0 International License.

Item Usage Stats

118
views

0
downloads

We study a representative dataset from Turkey that identifies firm-bank connections. Banks in Turkey differ not only in size and nationality, but also in ownership and orientation (non-Islamic versus Islamic)-resulting in at least six distinct bank types. We estimate a multinomial logit of the choice by the firm of bank type. We document a strong correspondence between bank type and firm characteristics that is not always the same as has been documented so far for US datasets. For example, small firms engage large rather than small banks. Young, large, multiple-bank, and industry-diversified firms, that are located in or close to Istanbul, team up with foreign banks. Islamic banks mainly deal with young, multiple-bank, industry-focused and transparent firms.

Subject Keywords

Economics and Econometrics, Finance

URI

https://hdl.handle.net/11511/38235

Journal

JOURNAL OF BANKING & FINANCE

DOI

https://doi.org/10.1016/j.jbankfin.2011.05.001

Collections

Department of Business Administration, Article

Suggestions

OpenMETU
Core

The Relationship Between Disaggregated Country Risk Ratings and Stock Market Movements: An ARDL Approach Sarı, Ramazan; Hammoudeh, Shawkat (Informa UK Limited, 2013-01-01) We examine the relationships between disaggregated country risk ratings and stock market movements in Turkey, using the autoregressive distributed lag approach. The long- and short-run relationships between stock market movements and political risk, financial risk, and economic risk components of country risk ratings are investigated. The presence of a long-run relationship between Turkey's risk ratings and stock market movements is confirmed. In the long run, Turkey's three economic, financial, and politic...
Macroeconomic variables and the housing market in Turkey Sarı, Ramazan; AYDIN, Bahadir (Informa UK Limited, 2007-09-01) This paper investigates the relation between housing starts and macroeconomic variables in Turkey from 1961 to 2000. The generalized variance decomposition approach is used to examine relations between housing market activity and prices, interest rates, output, money stock, and employment. In contrast to previous findings for developed countries, our results indicate that the monetary aggregate has a relatively more important and substantial effect on housing investment than does employment. Generally speak...
The capital structure of Turkish real estate investment trusts (REITS) Yıldırım, Burak; Erol, Işıl; Department of Financial Mathematics (2008) To the best of my knowledge, there has not been any academic study about capital structure of Turkish REITs so far. This study attempts to fulfill this gap in the literature by analyzing the capital structure choices of Turkish REITs which are listed in Istanbul Stock Exchange (ISE) over the period of 1998 - 2007. The key contribution of this study is to understand whether the firm specific, institutional and country specific factors that affect the capital structures of all institutional firms including RE...
How are cultural dimensions and governance quality related to socioeconomic development? Gaygısız Lajunen, Esma (Elsevier BV, 2013-12-01) This study presents evidence about relations between national cultural dimensions, socioeconomic development and governance quality. Relations between Hofstede's dimensions, Schwartz cultural values, Worldwide Governance Indicators (WGI) and UNPD Human Development Index (HDI) were analysed by using correlations, multiple regression analysis, moderator and mediator analyses as well as path analyses. Correlation results showed that WGI, indulgence, harmony, affective and intellectual autonomy and egalitariani...
The nature of persistence in Turkish real exchange rates Erlat, Haluk (Informa UK Limited, 2003-03-01) The objective of this paper is to investigate the persistence in Turkish real exchange rates (RER) using unit root tests and autoregressive fractionally integrated moving average (ARFIMA) models. We consider two RERs, one in terms of the German DM and the other in terms of the US$. ne plots of these RERs (based on both wholesale price indices and consumer price indices)for the period 1984.01-2000.09 reveal that they contain multiple shifts in their deterministic terms, one of which may need to be treated as...

Citation Formats

S. Ongena and İ. Şendeniz Yüncü, “Which firms engage small, foreign, or state banks? And who goes Islamic? Evidence from Turkey,” JOURNAL OF BANKING & FINANCE, pp. 3213–3224, 2011, Accessed: 00, 2020. [Online]. Available: https://hdl.handle.net/11511/38235.