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The Relationship between Bank Capital, Risk-Taking and Profitability: Fresh Evidence from Panel Quantile Approach

Yıl 2023, Cilt: 8 Sayı: 3, 378 - 403, 30.09.2023
https://doi.org/10.30784/epfad.1324401

Öz

This study aims to reveal the relationship between bank capital (BC), risk-taking, and profitability for commercial banks in Turkey using panel quantile regression models (QRPD) with non-additive fixed effects (NAFE). Accordingly, we consider the data of 18 commercial banks for 2012-2022. Firstly, we concluded a positive relationship between banks' risk-based capital (RBC) and traditional capital ratios (CR) and return on assets (ROA); in contrast, there is a negative relationship between RBC and risk-weighted assets (RWATA). Secondly, we found a positive relationship between RBC and the loan loss provision ratio (LLPTA) in other periods except the contraction period and between CR and LLPTA in other periods except the expansion period. The findings also showed an inverted U-shaped relationship between RBC and the LLPTA and return on equity (ROE) and an N-shaped relationship between CR and ROE. Lastly, we discovered a positive relationship between RWATA and ROA and ROE, whereas a negative relationship exists between LLPTA and ROA. The findings provide valuable insights into the validity of the moral hazard, cost-skimping, regulatory assumptions, agency, portfolio and risk-bearing profit theories in the commercial banking sector and that risk, capital and profitability indicators are leading factors in banks’ stability.

Kaynakça

  • Abbas, F. and Aziz, B. (2020). The interdependence between capital and profitability in banking industry of Asia: A comparative study of developed and developing economies. NUML International Journal of Business & Management, 15(2), 17-34. Retrieved from https://www.proquest.com/
  • Abbas, F. and Bashir, A. (2021). Ex ante, ex post risk and bank capital ratios: An empirical investigation. Journal of Economic and Administrative Sciences, Advance online publication. doi:10.1108/JEAS-06-2021-0108
  • Abbas, F., Ali, S., Moudud-Ul-Huq, S. and Naveed, M. (2021). Nexus between bank capital and risk-taking behaviour: Empirical evidence from US commercial banks. Cogent Business & Management, 8(1), 1947557, 1-18. https://doi.org/10.1080/23311975.2021.1947557
  • Abbas, F., Ali, S., Yousaf, I. and Wong, W-K. (2022). Economics of risk taking, risk-based capital and profitability: Empirical evidence of Islamic banks. Asian Academy of Management Journal of Accounting and Finance, 18(1), 1–31. https://doi.org/10.21315/aamjaf2022.18.1.1
  • Abbas, F., Iqbal, S. and Aziz, B. (2019). The impact of bank capital, bank liquidity and credit risk on profitability in postcrisis period:‎ A comparative study of US and Asia. Cogent Economics & Finance, 7(1), 1605683, 1-19. https://doi.org/10.1080/23322039.2019.1605683
  • Akhmedjonov, A. and Balci-Izgi, B. (2015). If bank capital matters, then how? The effect of bank capital on profitability of Turkish banks during the recent financial crisis. Macroeconomics and Finance in Emerging Market Economies, 8(1-2), 160-166. https://doi.org/10.1080/17520843.2014.940988
  • Allard, A., Takman, J., Uddin, G.S. and Ahmed, A. (2018). The N-shaped environmental Kuznets curve: An empirical evaluation using a panel quantile regression approach. Environmental Science and Pollution Research, 25, 5848-5861. https://doi.org/10.1007/s11356-017-0907-0
  • Ashraf, B.N., Arshad, S. and Hu, Y. (2016). Capital regulation and bank risk-taking behavior: Evidence from Pakistan. International Journal of Financial Studies, 4(3), 16. https://doi.org/10.3390/ijfs4030016
  • Ayaydin, H. and Karakaya, A. (2014). The effect of bank capital on profitability and risk in Turkish banking. International Journal of Business and Social Science, 5(1), 252-271. Retrieved from http://www.ijbssnet.com/
  • Aydin, Y. (2019). The relationship between bank capital and profitability: Evidence from Turkish banking sector. Journal of International Social Research, 12(62), 1174-1181. http://dx.doi.org/10.17719/jisr.2019.3128
  • BCBS. (1988). International convergence of capital measurement and capital standards. Retrieved from https://www.bis.org/publ/bcbs04a.pdf
  • BRSA. (2005). 10 soruda yeni Basel sermaye uzlaşısı (Basel II). Retrieved from https://www.bddk.org.tr/contentbddk/dokuman/duyuru_basel_0001_38.pdf
  • BRSA. (2010). Sorularla Basel III. Retrieved from https://www.bddk.org.tr/ContentBddk/dokuman/duyuru_basel_0001_53.pdf
  • Bitar, M., Pukthuanthong, K. and Walker, T. (2018). The effect of capital ratios on the risk, efficiency and profitability of banks: Evidence from OECD countries. Journal of International Financial Markets, Institutions and Money, 53, 227-262. https://doi.org/10.1016/j.intfin.2017.12.002
  • Boamah, N.A., Opoku, E. and Boakye-Dankwa, A. (2023). Capital regulation, liquidity risk, efficiency and banks performance in emerging economies. Journal of Financial Regulation and Compliance, 31(1), 126-145. https://doi.org/10.1108/JFRC-09-2021-0076
  • Bouheni, F.B. and Rachdi, H. (2015). Bank capital adequacy requirements and risk-taking behavior in Tunisia: A simultaneous equations framework. Journal of Applied Business Research, 31(1), 231-238. https://doi.org/10.19030/jabr.v31i1.9003
  • Bunyaminu, A., Bashiru, S., Amadu, I.M., Yakubu, I.N. and Iddrisu, A.J. (2021). Investigating the impact of capital adequacy ratio and corruption on bank risk-taking in Ghana. Academy of Accounting and Financial Studies Journal, 25(4), 1-7. doi:1528-2635-25-3-716
  • Celik, S. and Kaya, F. (2019). Micro-variables that affect bank profibility: A research on the Turkish banking sector. Bolu Abant İzzet Baysal Üniversitesi Sosyal Bilimler Enstitüsü Dergisi, 19(3), 765-788. https://doi.org/10.11616/basbed.v19i49542.594328
  • Coccorese, P. and Girardone, C. (2021). Bank capital and profitability: Evidence from a global sample. The European Journal of Finance, 27(9), 827-856. https://doi.org/10.1080/1351847X.2020.1832902
  • Dao, B.T.T. and Nguyen, D.P. (2020). Determinants of profitability in commercial banks in Vietnam, Malaysia and Thailand. Journal of Asian Finance, Economics and Business, 7(4), 133-143. doi:10.13106/jafeb.2020.vol7.no4.133
  • Demir, Y. and Kucukkaplan, I. (2017). An overview of preventive, restrictive and supervisory regulations in Turkish banking system. Ömer Halisdemir Üniversitesi İktisadi ve İdari Bilimler Fakültesi Dergisi, 10(2), 188-202. Retrieved from https://dergipark.org.tr/tr/pub/ohuiibf
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  • Dias, R. (2021). Capital regulation and bank risk‐taking–new global evidence. Accounting & Finance, 61(1), 847-884. https://doi.org/10.1111/acfi.12595
  • Dinu, V. and Bunea, M. (2022). The impact of competition and risk exposure on profitability of the Romanian banking system during the COVID-19 pandemic. Journal of Competitiveness, 14(2), 5–22. https://doi.org/10.7441/joc.2022.02.01
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Banka Sermayesi, Risk Alma ve Kârlılık İlişkisi: Panel Kantil Yaklaşımından Yeni Kanıtlar

Yıl 2023, Cilt: 8 Sayı: 3, 378 - 403, 30.09.2023
https://doi.org/10.30784/epfad.1324401

Öz

Bu çalışmanın amacı, Türkiye'deki ticari bankalar için banka sermayesi, risk alma ve kârlılık arasındaki ilişkiyi toplamsal olmayan sabit etkili panel kantil regresyon modelleriyle ortaya koymaktır. Bu doğrultuda, 18 ticari bankanın 2012-2022 dönemine ait verileri dikkate alınmıştır. İlk olarak, bankaların risk bazlı sermaye (RBC) ve geleneksel sermaye (CR) oranları ile aktif kârlılık (ROA) arasında pozitif bir ilişki varken, bankaların risk bazlı sermaye oranları ile risk ağırlıklı varlıkları (RWATA) arasında negatif bir ilişkinin olduğu sonucuna ulaşılmıştır. İkinci olarak, daralma dönemi hariç diğer dönemlerde RBC ile kredi zararları karşılığı oranı (LLPTA) arasında ve genişleme dönemi hariç diğer dönemlerde CR ile LLPTA arasında pozitif bir ilişkinin olduğu bulunmuştur. Bulgular ayrıca RBC ile LLPTA ve özkaynak kârlılığı (ROE) arasında ters U şeklinde, CR ile ROE arasında ise N şeklinde bir ilişkinin olduğunu göstermiştir. Son olarak, RWATA ile ROA ve ROE arasında pozitif ilişki varken, LLPTA ile ROA arasında negatif bir ilişkinin olduğu tespit edilmiştir. Bulgular, ahlaki tehlike, maliyet cimriliği, düzenleyici varsayımlar, vekâlet, portföy ve risk barındıran kâr teorilerinin ticari bankacılık sektöründe geçerliliğine ve risk, sermaye ve kârlılık göstergelerinin bankaların istikrarı üzerinde öncü faktörler olduğuna ilişkin değerli bilgiler sunmaktadır.

Kaynakça

  • Abbas, F. and Aziz, B. (2020). The interdependence between capital and profitability in banking industry of Asia: A comparative study of developed and developing economies. NUML International Journal of Business & Management, 15(2), 17-34. Retrieved from https://www.proquest.com/
  • Abbas, F. and Bashir, A. (2021). Ex ante, ex post risk and bank capital ratios: An empirical investigation. Journal of Economic and Administrative Sciences, Advance online publication. doi:10.1108/JEAS-06-2021-0108
  • Abbas, F., Ali, S., Moudud-Ul-Huq, S. and Naveed, M. (2021). Nexus between bank capital and risk-taking behaviour: Empirical evidence from US commercial banks. Cogent Business & Management, 8(1), 1947557, 1-18. https://doi.org/10.1080/23311975.2021.1947557
  • Abbas, F., Ali, S., Yousaf, I. and Wong, W-K. (2022). Economics of risk taking, risk-based capital and profitability: Empirical evidence of Islamic banks. Asian Academy of Management Journal of Accounting and Finance, 18(1), 1–31. https://doi.org/10.21315/aamjaf2022.18.1.1
  • Abbas, F., Iqbal, S. and Aziz, B. (2019). The impact of bank capital, bank liquidity and credit risk on profitability in postcrisis period:‎ A comparative study of US and Asia. Cogent Economics & Finance, 7(1), 1605683, 1-19. https://doi.org/10.1080/23322039.2019.1605683
  • Akhmedjonov, A. and Balci-Izgi, B. (2015). If bank capital matters, then how? The effect of bank capital on profitability of Turkish banks during the recent financial crisis. Macroeconomics and Finance in Emerging Market Economies, 8(1-2), 160-166. https://doi.org/10.1080/17520843.2014.940988
  • Allard, A., Takman, J., Uddin, G.S. and Ahmed, A. (2018). The N-shaped environmental Kuznets curve: An empirical evaluation using a panel quantile regression approach. Environmental Science and Pollution Research, 25, 5848-5861. https://doi.org/10.1007/s11356-017-0907-0
  • Ashraf, B.N., Arshad, S. and Hu, Y. (2016). Capital regulation and bank risk-taking behavior: Evidence from Pakistan. International Journal of Financial Studies, 4(3), 16. https://doi.org/10.3390/ijfs4030016
  • Ayaydin, H. and Karakaya, A. (2014). The effect of bank capital on profitability and risk in Turkish banking. International Journal of Business and Social Science, 5(1), 252-271. Retrieved from http://www.ijbssnet.com/
  • Aydin, Y. (2019). The relationship between bank capital and profitability: Evidence from Turkish banking sector. Journal of International Social Research, 12(62), 1174-1181. http://dx.doi.org/10.17719/jisr.2019.3128
  • BCBS. (1988). International convergence of capital measurement and capital standards. Retrieved from https://www.bis.org/publ/bcbs04a.pdf
  • BRSA. (2005). 10 soruda yeni Basel sermaye uzlaşısı (Basel II). Retrieved from https://www.bddk.org.tr/contentbddk/dokuman/duyuru_basel_0001_38.pdf
  • BRSA. (2010). Sorularla Basel III. Retrieved from https://www.bddk.org.tr/ContentBddk/dokuman/duyuru_basel_0001_53.pdf
  • Bitar, M., Pukthuanthong, K. and Walker, T. (2018). The effect of capital ratios on the risk, efficiency and profitability of banks: Evidence from OECD countries. Journal of International Financial Markets, Institutions and Money, 53, 227-262. https://doi.org/10.1016/j.intfin.2017.12.002
  • Boamah, N.A., Opoku, E. and Boakye-Dankwa, A. (2023). Capital regulation, liquidity risk, efficiency and banks performance in emerging economies. Journal of Financial Regulation and Compliance, 31(1), 126-145. https://doi.org/10.1108/JFRC-09-2021-0076
  • Bouheni, F.B. and Rachdi, H. (2015). Bank capital adequacy requirements and risk-taking behavior in Tunisia: A simultaneous equations framework. Journal of Applied Business Research, 31(1), 231-238. https://doi.org/10.19030/jabr.v31i1.9003
  • Bunyaminu, A., Bashiru, S., Amadu, I.M., Yakubu, I.N. and Iddrisu, A.J. (2021). Investigating the impact of capital adequacy ratio and corruption on bank risk-taking in Ghana. Academy of Accounting and Financial Studies Journal, 25(4), 1-7. doi:1528-2635-25-3-716
  • Celik, S. and Kaya, F. (2019). Micro-variables that affect bank profibility: A research on the Turkish banking sector. Bolu Abant İzzet Baysal Üniversitesi Sosyal Bilimler Enstitüsü Dergisi, 19(3), 765-788. https://doi.org/10.11616/basbed.v19i49542.594328
  • Coccorese, P. and Girardone, C. (2021). Bank capital and profitability: Evidence from a global sample. The European Journal of Finance, 27(9), 827-856. https://doi.org/10.1080/1351847X.2020.1832902
  • Dao, B.T.T. and Nguyen, D.P. (2020). Determinants of profitability in commercial banks in Vietnam, Malaysia and Thailand. Journal of Asian Finance, Economics and Business, 7(4), 133-143. doi:10.13106/jafeb.2020.vol7.no4.133
  • Demir, Y. and Kucukkaplan, I. (2017). An overview of preventive, restrictive and supervisory regulations in Turkish banking system. Ömer Halisdemir Üniversitesi İktisadi ve İdari Bilimler Fakültesi Dergisi, 10(2), 188-202. Retrieved from https://dergipark.org.tr/tr/pub/ohuiibf
  • Demirguc-Kunt, A. and Kane, E.J. (2002). Deposit insurance around the globe: Where does it work? Journal of Economic Perspectives, 16(2), 175–195. https://doi.org/10.1257/0895330027319
  • Dias, R. (2021). Capital regulation and bank risk‐taking–new global evidence. Accounting & Finance, 61(1), 847-884. https://doi.org/10.1111/acfi.12595
  • Dinu, V. and Bunea, M. (2022). The impact of competition and risk exposure on profitability of the Romanian banking system during the COVID-19 pandemic. Journal of Competitiveness, 14(2), 5–22. https://doi.org/10.7441/joc.2022.02.01
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  • Guris, S. and Sak, N. (2019). Investigation of environmental Kuznets curve hypothesis with non-additive fixed effect panel quantile method. Business and Economics Research Journal, 10(2), 327-340. doi: 10.20409/berj.2019.171
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  • Harkati, R., Alhabshi, S. M. and Kassim, S. (2020). Does capital adequacy ratio influence risk-taking behaviour of conventional and Islamic banks differently? Empirical evidence from dual banking system of Malaysia. Journal of Islamic Accounting and Business Research, 11(9), 1989-2015. https://doi.org/10.1108/JIABR-11-2019-0212
  • Hoque, H. and Liu, H. (2023). Impact of bank regulation on risk of Islamic and conventional banks. International Journal of Finance & Economics, 28(1), 1025-1062. https://doi.org/10.1002/ijfe.2462
  • Hu, T. and Xie, C. (2016). Competition, inovation, risk-taking, and profitability in the Chinese banking sector: An empirical analysis based on structural equation modeling. Discrete Dynamics in Nature and Society, 2016,1-10. http://dx.doi.org/10.1155/2016/3695379
  • Iannotta, G., Nocera, G. and 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. (2017). Internal determinants of profitability of state, private and foreign owned commercial banks operating in Turkey. Journal of Economics Finance and Accounting, 4(3), 342-353. https://doi.org/10.17261/Pressacademia.2017.701
  • Isik, O. and Belke, M. (2017). The determinants of liquidity risk: Evidence from banks traded on Borsa Istanbul. Journal of Research in Economics, Politics & Finance, 2(2), 113-126. https://doi.org/10.30784/epfad.354458
  • Isik, O., Yalman, I.N. and Kosaroglu, S.M. (2017). Factors affecting the profitability of deposit banks in Turkey. İşletme Araştırmaları Dergisi, 9(1), 362-380. doi:10.20491/isarder.2017.249
  • Jabra, W.B., Mighri, Z. and Mansouri, F. (2017). Bank capital, profitability and risk in BRICS banking industry. Global Business and Economics Review, 19(1), 89-119. https://doi.org/10.1504/GBER.2017.080782
  • Jensen, M.C. and Meckling, W.H. (1976). Theory of the firm: Managerial behavior, agency costs and ownership structure. Journal of Financial Economics, 3(4), 305–360. https://doi.org/10.1016/0304-405X(76)90026-X
  • Kadioglu, E., Telceken, N. and Ocal, N. (2017). Effect of the asset quality on the bank profitability. International Journal of Economics and Finance, 9(7), 60-68. Retrieved from https://www.ccsenet.org/journal/index.php/ijef
  • Kaplan, H.E., Hazar, A. and Babuscu, S. (2023). Scale factor in the performance of deposit banks-Turkey case. Journal of Research in Economics, Politics & Finance, 8(2), 244-262. https://doi.org/10.30784/epfad.1284307
  • Kaya, P., Babuscu, S. and Hazar, A. (2022). The impact of capital adequacy on the profitability of Turkish deposit banks in the period before and after the implementation of Basel II. Afyon Kocatepe Üniversitesi İktisadi ve İdari Bilimler Fakültesi Dergisi, 24(2), 46-60. https://doi.org/10.33707/akuiibfd.1128039
  • Kilic, M. (2019). The effect of the financial structure of banks on profitability: An analysis on the privately-owned deposit banks. Uluslararası İktisadi ve İdari İncelemeler Dergisi, 24, 45-58. https://doi.org/10.18092/ulikidince.579950
  • Kocaman, B.E., Hazar, A. and Babuscu, S. (2018). The effects of structured credits on bank profitability in the Turkish banking sector. Journal of Research in Economics, Politics & Finance, 3(3), 226-242. https://doi.org/10.30784/epfad.462990
  • Koenker, R. (2004). Quantile regression for longitudinal data. Journal of Multivariate Analysis, 91(1), 74-89. https://doi.org/10.1016/j.jmva.2004.05.006
  • Koenker, R. and Bassett, Jr.G. (1978). Regression quantiles. Econometrica: Journal of the Econometric Society, 46(1), 33-50. https://doi.org/10.2307/1913643
  • Lee, C.C., Ning, S.L. and Lee, C.C. (2015). How does bank capital affect bank profitability and risk? Evidence from China's WTO accession. China & World Economy, 23(4), 19-39. https://doi.org/10.1111/cwe.12119
  • Markowitz, H.M. (1991). Foundations of portfolio theory. The Journal of Finance, 46(2), 469-477. https://doi.org/10.1111/j.1540-6261.1991.tb02669.x
  • Mateev, M., Moudud-Ul-Huq, S., Sahyouni, A. and Tariq, M.U. (2022). Capital regulation, competition and risk-taking: Policy implications for banking sector stability in the MENA region. Research in International Business and Finance, 60(01579), 1-30. https://doi.org/10.1016/j.ribaf.2021.101579
  • Mendoza, R. and Rivera, J.P.R. (2017). The effect of credit risk and capital adequacy on the profitability of rural banks in the Philippines. Scientific Annals of Economics and Business, 64(1), 83-96. doi:10.1515/saeb-2017-0006
  • Mohsin, A.K.M. and Hongzhen, L. (2019). A study on the impact of risk and competition on bank profitability in Bangladesh. North American Academic Research, 2(8), 1-40. https://doi.org/10.5281/zenodo.3359666
  • Mujtaba, G., Akhtar, Y., Ashfaq, S., Abbas Jadoon, I. and Hina, S.M. (2022). The nexus between Basel capital requirements, risk-taking and profitability: What about emerging economies? Economic Research-Ekonomska Istraživanja, 35(1), 230-251. https://doi.org/10.1080/1331677X.2021.1890177
  • Myers, S.C. (2001). Capital structure. Journal of Economic Perspectives, 15(2), 81–102. https://doi.org/10.1257/jep.15.2.81
  • Nguyen, T.P.T. and Nghiem, S. (2015). The interrelationships among default risk, capital ratio and efficiency: Evidence from Indian banks. Managerial Finance, 41(5), 507-525. https://doi.org/10.1108/MF-12-2013-0354
  • Nur, T. (2022). Specific factors affecting risk-taking behaviour: Panel cointegration and causality analysis on BIST bank index. Pamukkale Üniversitesi Sosyal Bilimler Enstitüsü Dergisi, 52, 363-378. https://doi.org/10.30794/pausbed.1076301
  • Okuyan, H.A. (2013). Capital structure in Turkish banking sector. Ege Akademic Review, 13(3), 295-302. Retrieved from https://dergipark.org.tr/tr/pub/eab
  • Okuyan, H.A. and Karatas, Y. (2017). Profitability analysis of Turkish banking sector. Ege Akademic Review, 17(3), 395-406. doi:10.21121/eab.2017328405
  • Orgun, G.S. (2023). Effect of liquidity risk on bank performance: An investigation on banks operating on Borsa Istanbul. Dicle Üniversitesi Sosyal Bilimler Enstitüsü Dergisi, 32, 694-711. Retrieved from https://dergipark.org.tr/tr/pub/diclesosbed
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  • Senol, Z., Oncul, M. and Alici, M.S. (2019). The effect of bank specific financial risks on bank profitability. Journal of International Management Educational and Economics Perspectives, 7(2), 101-109. Retrieved from https://dergipark.org.tr/en/pub/jimeep
  • Shair, F., Sun, N., Shaorong, S., Atta, F. and Hussain, M. (2019). Impacts of risk and competition on the profitability of banks: Empirical evidence from Pakistan. PloS One, 14(11), 1-27, https://doi.org/10.1371/journal.pone.0224378
  • Subhani, G., Ali, S. and Iqbal, M. (2022). Bank capital, risk and profitability: A comparative study of Europe and MENA countries. African Journal of Accounting and Financial Research, 5(2), 1-15. doi:10.52589/AJAFR-LC4V4U4I
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  • Ul Mustafa, A.R., Ansari, R.H. and Younis, M.U. (2012). Does the loan loss provision affect the banking profitability in case of Pakistan? Asian Economic and Financial Review, 2(7), 772-783. Retrieved from https://archive.aessweb.com/
  • Van Dooren, M. (2017). Estimating the determinants of bank profitability in the European Union from 1998-2013. The Park Place Economist, 25(1), 13, 1-14. Retrieved from https://digitalcommons.iwu.edu/parkplace/
  • Yaman, S. (2021). The effects of bank specific factors on banks profitability: Panel data analysis on Turkish banking system. İktisadi ve İdari Yaklaşımlar Dergisi, 3(2), 77-100. Retrieved from https://dergipark.org.tr/tr/pub/jeaa
  • Yazici, E. and Kandil-Goker, I.E. (2019). The effect of banking regulations on risk-taking behaviour of banks: A research in the Turkish banking sector. Journal of International Management Educational and Economics Perspectives, 7(2), 120-138. Retrieved from https://dergipark.org.tr/en/pub/jimeep
Toplam 70 adet kaynakça vardır.

Ayrıntılar

Birincil Dil İngilizce
Konular Banka Yönetimi, Bankacılıkta Risk Yönetimi, Ticari Bankacılık, Finans
Bölüm Makaleler
Yazarlar

Selim Güngör 0000-0002-2997-1113

Yayımlanma Tarihi 30 Eylül 2023
Kabul Tarihi 10 Eylül 2023
Yayımlandığı Sayı Yıl 2023 Cilt: 8 Sayı: 3

Kaynak Göster

APA Güngör, S. (2023). The Relationship between Bank Capital, Risk-Taking and Profitability: Fresh Evidence from Panel Quantile Approach. Ekonomi Politika Ve Finans Araştırmaları Dergisi, 8(3), 378-403. https://doi.org/10.30784/epfad.1324401