The Relationship between Stock Performance and the Efficiency in Turkish Banking Sector

Hakan AYGÖREN, M. Ensar YEŞİLYURT, Bülent GÜLOĞLU, İlhan KÜÇÜKKAPLAN

Öz


This study aims to investigate the relationship between efficiency and the stock performance of the banking sector in Turkey. Efficiency analysis is conducted via Stochastic Frontier Analysis (SFA). Subsequently, the market-to-book value as a measure of stock performance is regressed against the percentage change in efficiency using panel data analysis. SFA shows that the concentration ratios and capital adequacy ratio have a positive effect on the efficiency of stocks, whereas the number of employees per unit of branches and age influence stocks negatively. The results also show that investors perceive efficiency to be a significant factor in terms of stock performance.

Anahtar Kelimeler


Efficiency; Banking Sector; Stochastic Frontier (SFA); Stock Performance; Panel Data

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Doğuş Üniversitesi Dergisi'nin içeriği Creative Commons Atıf-Gayriticari 4.0 Uluslararası Lisansı ile lisanslanmıştır.
 

İletişim:

Doğuş Üniversitesi Dergisi
Acıbadem Zeamet Sokak, No: 21
34722 - Kadıköy, İSTANBUL
E-posta: journal@dogus.edu.tr