KATILIM VE MEVDUAT BANKALARININ TİCARİ KREDİLERİNDE SEKTÖR TERCİHİ: BELİRLEYİCİLER, FARKLILIKLAR VE MOTİVASYONLAR
Abstract
Bu çalışmanın amacı, bankaların ticari kredilerindeki sektör paylarını incelemek; söz konusu payları belirleyen değişkenleri tespit etmek ve katılım bankaları ile geleneksel mevduat bankalarının ticari kredilerindeki sektör payları arası farklılığın sebeplerini ortaya koymaktır. Bu kapsamda 2009-2021 yılları arasındaki 12 farklı sektörün verileri ve banka verilerini içeren panel veri ile regresyon analizi gerçekleştirilmiştir. Analizde katılım bankaları ve geleneksel bankaların ticari kredi portföyündeki sektör payları ve bu paylar arasındaki fark bağımlı değişken olarak belirlenmiştir. Sektörlerin finansal ve finansal olmayan bazı özellikleri ise bağımsız değişken olarak dikkate alınmıştır. Analiz neticesinde katılım bankalarının sektör tercihinde büyük oranda finansal olmayan değişkenler etkiliyken; geleneksel mevduat bankalarının sektör tercihinin hem sektörlerin finansal özellikleri hem de finansal olmayan özellikleri tarafından belirlendiği ortaya konulmuştur. Ayrıca katılım bankaları ile geleneksel bankalar arasındaki sektör payı farkı üzerinden gerçekleştirilen analiz, söz konusu farkın hem finansal hem de finansal olmayan bazı sektör değişkenleri ile açıklanabileceğini göstermektedir. Sonuçlar, katılım bankalarının bankacılık faaliyetlerinde finansal hedeflerinin yanı sıra finansal olmayan motivasyonlarının da bulunduğunu doğrulamaktadır.
Anahtar Kelimeler: Katılım Bankaları, Mevduat Bankaları, Ticari Krediler, Sektör Payı, Kredi Dağılımı
JEL Sınıflandırması: G21, E51
Supporting Institution
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Project Number
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Thanks
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References
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- Auer, R., Matyunina, A., Ongena, S. (2022). The countercyclical capital buffer and the composition of bank lending. Journal of Financial Intermediation, 52, 1-17.
- Aysan, A.F., Disli, M. Adam, N., Ozturk, H. (2016). Is small the new big? Islamic banking for SMEs in Turkey. Economic Modelling, 54, 187-194.
- Bafra, E. (2015). İslami banka kavramı karşısında özel finans kurumu’ndan katılım bankası kavramına geçiş bir çelişki midir?. Ekonomik Yaklaşım, 26(95), 71-88.
- Bahadır, B., Valev, N. (2019). Credit information sharing and the shift in bank lending towards households. International Journal of Finance & Economics, 26(1), 60-72.
- Berger, A. N., Klapper, L. F., Udell, G. F. (2001). The ability of banks to lend to informationally opaque small businesses. Journal of Banking and Finance, 25, 2127–2167.
- Chen, J.J. (2004). Determinants of capital structure of Chinese-listed companies. Journal of Business Research, 57(12), 1341-1351.
- Claeys, S., Hainz, C. (2007). Acquisition versus greenfield: The impact of the mode of foreign bank entry on information and bank lending rates. Sveriges Riksbank Working Paper Series, 210.
- Çidem, T. (2020). Türkiye’de katılım bankacılığı: mevcut durum, tartışmalar ve öneriler. Yayımlanmamış Yüksek Lisans Tezi. Sivas: Sivas Cumhuriyet Üniversitesi Sosyal Bilimler Enstitüsü.
- De Haas, R., Ferreira, D., Taci, A. (2010). What determines the composition of banks’ loan portfolios? evidence from transition countries. Journal of Banking & Finance, 34 388–398.
- De la Torre, A., Martinez Peria, M.S., Schmukler, S.L. (2008). Bank involvement with SMEs: Beyond relationship lending. World Bank Policy Research Working Paper, 4649.
- Di Patti, E.B., D’Ignazio, A., Gallo, M., Micucci, G. (2015). The role of leverage in firm solvency: evidence from bank loans. Italian Economic Journal, 1, 253-286.
- Farooq, M.O.(2015). Islamic finance and debt culture: treading the conventional path?. International Journal of Social Economics, 42(12), 1168-1195.
- Frieder, L. Martell, R. (2006). On capital structure and the liquidity of a firm's stock. Purdue University Working Paper,https://papers.ssrn.com/sol3/papers.cfm?abstract_id=880421 adresinden erişilmiştir.
- Farooq, M.O., Taher, N.E., Alkhenaizi, A.A. (2018). Sectoral distribution and islamic finance: comparative study of conventional and islamic banks in Bahrain. Journal of Islamic Financial Studies, 4(2), 103-121.
- Gropp, R. Heider, F. (2010). The determinants of bank capital structure. Review of Finance, 14(4), 587–622.
- Hallajian, E., Tilehnouei, M.H. (2016). Impact of firm size on leverage: an empirical study of companies listed on NSE of India. International Journal of Scientific Research, 5(5), 99-101.
- Haselmann, R. Wachtell, P. (2010). Institutions and bank behavior: legal environment, legal perception, and the composition of bank lending. Journal of Money, Credit and Banking, 42(5), 965-984.
- Hill, R.C., Griffiths, W.E., Lim, G.C. (2011). Principles of Econometrics (4th Edt.). Phoenix: Wiley& Sons.
- Kennedy, P.,(2008). A Guide to Econometrics(6th Edt.). Malden: Blackwell Publishing.
- Lipson, M., Mortal, S. (2009). Liquidity and capital structure. Journal of Financial Markets, 12, 611-644.
- Margaritis, D., Psillaki, M. (2007). Capital structure and firm efficiency. Journal of Business, Finance and Accounting, 34(9), 1447-1469.
- Myers, S.C., Majluf, N.S. (1984). Corporate financing and investment decisions when firms have information that investors do not have. Journal of Financial Economics, 13(2), 187-221.
- Naim N. Y. A., Rahman A. N. A. (2023). The effects of internal governance factors on lending portfolio composition in islamic banks. International Journal of Financial Studies. 11(3), 85-101.
- Okura, M. (2008). Firm characteristics and access to bank loans: an empirical analysis of manufacturing SMEs in China. International Journal of Business and Management Science, 1(2), 165-186.
- Omar, F.A., Haq, M.A (1996). Islamic Banking Theory, Practice and Challenges (1st ed.). London: Oxford University Press.
- Özen, E. (2019). Katılım bankacılığına özgü yatırım araçları ve dünyada katılım bankacılığı. Yayımlanmamış Yüksek Lisans Tezi. İstanbul: Marmara Üniversitesi Bankacılık ve Sigortacılık Enstitüsü.
- Özulucan, A., Deran, A. (2009). Katılım bankacılığı ile geleneksel bankaların bankacılık hizmetleri ve muhasebe uygulamaları açısından karşılaştırılması. Mustafa Kemal Üniversitesi Sosyal Bilimler Enstitüsü Dergisi, 6(11), 85-108.
- Panda, S. K., Panda, G. P., Swain, A. K.(2017). Determınants of priority sector lending of Indian public sector banks: an econometric analysis. International Journal of Research-Granthaalayah, 5(7), 461-473.
- Park, H.M.,(2011), Practical guidelines to panel data modeling: a step by step analysis using stata. Tutorial Working Paper. Graduate School of International Relations, International University of Japan.
- Sevastyanova, E. P. (2008). Determinants of composition of banks’ loan portfolios in Russia. Journal of Siberian Federal University, 3(1), 391-397.
- Sevüktekin, M. (2013). Ekonometriye Giriş. Bursa: Dora Yayınevi.
- Tatoğlu, F. Y. (2016). Panel Veri Ekonometrisi. İstanbul: Beta Yayınevi.
- Tayem, G. (2022). Loan portfolio structure: the impact of foreign and Islamic banks. EuroMed Journal of Business, Yayın hazırlığında. https://doi.org/10.1108/EMJB-11-2021-0170.
- Terzi, A. (2013). Katılım bankacılığı: kitaba uymak mı, kitabına uydurmak mı?. Karadeniz Sosyal Bilimler Dergisi, 5(9), 55-76.
- Van Tassel, E., Vishwasrao, S. (2007). Asymmetric information and the mode of entry in foreign credit markets. Journal of Banking and Finance, 31, 3742–3760.
SECTOR PREFERENCE IN PARTICIPATION AND DEPOSIT BANKS’ COMMERCIAL LOANS: DETERMINANTS, DIFFERENCES AND MOTIVATIONS
Abstract
The aim of this paper is to analyze sectoral distribution of banks’ commercial loans; to identify the variables that determine this distribution and to reveal the reasons of the differences between the sectoral shares of participation banks and traditional deposit banks’ commercial loans. In this context, regression analysis is performed with panel data of 12 different sectors and banks between the years 2009-2021. In the analysis, the sectoral shares of participation banks and traditional banks’ commercial loan portfolio and the difference between these shares are determined as dependent variables. Some financial and non-financial characteristics of the sectors are taken into consideration as independent variables. According to the analysis results, non-financial variables are the most important determinants in the sector preference of participation banks while deposit banks’ sector preference is affected by both financial and non-financial sector characteristics. Moreover, the analysis that performed on the sector share differences between participation banks and traditional banks demosnstrates that the difference can be explained by some financial and non-financial sector variables. Results verify that participation banks have non-financial motivations beside their financial targets in their banking activity.
Keywords: Participation Banks, Deposit Banks, Commercial Loans, Sector Shares, Lending Composition
JEL Classification: G21, E51
Project Number
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References
- Asutay, M. (2011). Conceptualising and locating the social failure of islamic finance:aspirations of islamic moral economy vs the realities of islamic finance. Frontier of Islamic Economics and Finance: New Challenges, 11(2), 93-113.
- Auer, R., Matyunina, A., Ongena, S. (2022). The countercyclical capital buffer and the composition of bank lending. Journal of Financial Intermediation, 52, 1-17.
- Aysan, A.F., Disli, M. Adam, N., Ozturk, H. (2016). Is small the new big? Islamic banking for SMEs in Turkey. Economic Modelling, 54, 187-194.
- Bafra, E. (2015). İslami banka kavramı karşısında özel finans kurumu’ndan katılım bankası kavramına geçiş bir çelişki midir?. Ekonomik Yaklaşım, 26(95), 71-88.
- Bahadır, B., Valev, N. (2019). Credit information sharing and the shift in bank lending towards households. International Journal of Finance & Economics, 26(1), 60-72.
- Berger, A. N., Klapper, L. F., Udell, G. F. (2001). The ability of banks to lend to informationally opaque small businesses. Journal of Banking and Finance, 25, 2127–2167.
- Chen, J.J. (2004). Determinants of capital structure of Chinese-listed companies. Journal of Business Research, 57(12), 1341-1351.
- Claeys, S., Hainz, C. (2007). Acquisition versus greenfield: The impact of the mode of foreign bank entry on information and bank lending rates. Sveriges Riksbank Working Paper Series, 210.
- Çidem, T. (2020). Türkiye’de katılım bankacılığı: mevcut durum, tartışmalar ve öneriler. Yayımlanmamış Yüksek Lisans Tezi. Sivas: Sivas Cumhuriyet Üniversitesi Sosyal Bilimler Enstitüsü.
- De Haas, R., Ferreira, D., Taci, A. (2010). What determines the composition of banks’ loan portfolios? evidence from transition countries. Journal of Banking & Finance, 34 388–398.
- De la Torre, A., Martinez Peria, M.S., Schmukler, S.L. (2008). Bank involvement with SMEs: Beyond relationship lending. World Bank Policy Research Working Paper, 4649.
- Di Patti, E.B., D’Ignazio, A., Gallo, M., Micucci, G. (2015). The role of leverage in firm solvency: evidence from bank loans. Italian Economic Journal, 1, 253-286.
- Farooq, M.O.(2015). Islamic finance and debt culture: treading the conventional path?. International Journal of Social Economics, 42(12), 1168-1195.
- Frieder, L. Martell, R. (2006). On capital structure and the liquidity of a firm's stock. Purdue University Working Paper,https://papers.ssrn.com/sol3/papers.cfm?abstract_id=880421 adresinden erişilmiştir.
- Farooq, M.O., Taher, N.E., Alkhenaizi, A.A. (2018). Sectoral distribution and islamic finance: comparative study of conventional and islamic banks in Bahrain. Journal of Islamic Financial Studies, 4(2), 103-121.
- Gropp, R. Heider, F. (2010). The determinants of bank capital structure. Review of Finance, 14(4), 587–622.
- Hallajian, E., Tilehnouei, M.H. (2016). Impact of firm size on leverage: an empirical study of companies listed on NSE of India. International Journal of Scientific Research, 5(5), 99-101.
- Haselmann, R. Wachtell, P. (2010). Institutions and bank behavior: legal environment, legal perception, and the composition of bank lending. Journal of Money, Credit and Banking, 42(5), 965-984.
- Hill, R.C., Griffiths, W.E., Lim, G.C. (2011). Principles of Econometrics (4th Edt.). Phoenix: Wiley& Sons.
- Kennedy, P.,(2008). A Guide to Econometrics(6th Edt.). Malden: Blackwell Publishing.
- Lipson, M., Mortal, S. (2009). Liquidity and capital structure. Journal of Financial Markets, 12, 611-644.
- Margaritis, D., Psillaki, M. (2007). Capital structure and firm efficiency. Journal of Business, Finance and Accounting, 34(9), 1447-1469.
- Myers, S.C., Majluf, N.S. (1984). Corporate financing and investment decisions when firms have information that investors do not have. Journal of Financial Economics, 13(2), 187-221.
- Naim N. Y. A., Rahman A. N. A. (2023). The effects of internal governance factors on lending portfolio composition in islamic banks. International Journal of Financial Studies. 11(3), 85-101.
- Okura, M. (2008). Firm characteristics and access to bank loans: an empirical analysis of manufacturing SMEs in China. International Journal of Business and Management Science, 1(2), 165-186.
- Omar, F.A., Haq, M.A (1996). Islamic Banking Theory, Practice and Challenges (1st ed.). London: Oxford University Press.
- Özen, E. (2019). Katılım bankacılığına özgü yatırım araçları ve dünyada katılım bankacılığı. Yayımlanmamış Yüksek Lisans Tezi. İstanbul: Marmara Üniversitesi Bankacılık ve Sigortacılık Enstitüsü.
- Özulucan, A., Deran, A. (2009). Katılım bankacılığı ile geleneksel bankaların bankacılık hizmetleri ve muhasebe uygulamaları açısından karşılaştırılması. Mustafa Kemal Üniversitesi Sosyal Bilimler Enstitüsü Dergisi, 6(11), 85-108.
- Panda, S. K., Panda, G. P., Swain, A. K.(2017). Determınants of priority sector lending of Indian public sector banks: an econometric analysis. International Journal of Research-Granthaalayah, 5(7), 461-473.
- Park, H.M.,(2011), Practical guidelines to panel data modeling: a step by step analysis using stata. Tutorial Working Paper. Graduate School of International Relations, International University of Japan.
- Sevastyanova, E. P. (2008). Determinants of composition of banks’ loan portfolios in Russia. Journal of Siberian Federal University, 3(1), 391-397.
- Sevüktekin, M. (2013). Ekonometriye Giriş. Bursa: Dora Yayınevi.
- Tatoğlu, F. Y. (2016). Panel Veri Ekonometrisi. İstanbul: Beta Yayınevi.
- Tayem, G. (2022). Loan portfolio structure: the impact of foreign and Islamic banks. EuroMed Journal of Business, Yayın hazırlığında. https://doi.org/10.1108/EMJB-11-2021-0170.
- Terzi, A. (2013). Katılım bankacılığı: kitaba uymak mı, kitabına uydurmak mı?. Karadeniz Sosyal Bilimler Dergisi, 5(9), 55-76.
- Van Tassel, E., Vishwasrao, S. (2007). Asymmetric information and the mode of entry in foreign credit markets. Journal of Banking and Finance, 31, 3742–3760.
Details
| Primary Language | Turkish |
|---|---|
| Subjects | Islamic Finance |
| Journal Section | Articles |
| Authors | |
| Project Number | - |
| Early Pub Date | November 30, 2023 |
| Publication Date | December 31, 2023 |
| Submission Date | August 20, 2023 |
| Acceptance Date | October 16, 2023 |
| Published in Issue | Year 2023 Volume: 9 Issue: 2 |
All articles published in the Journal of Islamic Economics and Finance are licensed under the Creative Commons Attribution-NoDerivatives 4.0 International License.
Publisher: Istanbul Sabahattin Zaim Univeristy, Halkalı Caddesi No:2 Küçükçekmece / İstanbul