TY  - JOUR
VL  - 7
PB  - International Economic Society
SN  - 1307-1637
A1  - Erol, Cengiz
A1  - Seven, Ünal
A1  - Aydo?an, Berna
A1  - Tunc, Seda
Y1  - 2013/03//
TI  - The impact of financial restructuring after 2001 Turkey crisis on the risk determinants of Turkish commercial bank stocks
ID  - eprints2199
AV  - none
N2  - This paper examines the risk features of Turkish commercial banks and the determinants of their systematic and unsystematic risks by analyzing the effects of financial reforms after 2001 crisis. The sample period is divided into two sub-periods: before financial restructuring period (1994-2000) and post-financial restructuring period (2001-2010). The OLS framework is utilized to investigate the impact of financial restructuring on the risk determinants. For the majority of the stocks in the sample, the results point out that turnover and size are the most explanatory variables for systematic risk and unsystematic risk, respectively in two sub-periods. As for the comparison of the before and post-financial restructuring periods, the results indicate that there is not a significant change in risk factors, suggesting that investors risk preferences are same for the analyzed period.
JF  - International Journal of Economic Perspectives
KW  - Systematic Risk; Risk Factors; Financial Restructuring; Commercial Banks    -    JEL Classification: G01; G11; G21; G32
IS  - 4
UR  - http://www.econ-society.org/journals/ijep/2013/erol7.4.htm
ER  -