eprintid: 2199
rev_number: 7
eprint_status: archive
userid: 6
dir: disk0/00/00/21/99
datestamp: 2014-06-11 12:52:21
lastmod: 2016-03-18 10:41:24
status_changed: 2014-06-11 12:52:21
type: article
metadata_visibility: show
creators_name: Erol, Cengiz
creators_name: Seven, Ünal
creators_name: Aydoğan, Berna
creators_name: Tunc, Seda
creators_id: 
creators_id: unal.seven@imtlucca.it
creators_id: 
creators_id: 
title: The impact of financial restructuring after 2001 Turkey crisis on the risk determinants of Turkish commercial bank stocks
ispublished: pub
subjects: HB
subjects: HG
divisions: EIC
full_text_status: none
keywords: Systematic Risk; Risk Factors; Financial Restructuring; Commercial Banks    -    JEL Classification: G01; G11; G21; G32
abstract: 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.
date: 2013-03
date_type: published
publication: International Journal of Economic Perspectives
volume: 7
number: 4
publisher: International Economic Society
refereed: TRUE
issn: 1307-1637
official_url: http://www.econ-society.org/journals/ijep/2013/erol7.4.htm
citation:   Erol, Cengiz and Seven, Ünal and Aydoğan, Berna and Tunc, Seda  The impact of financial restructuring after 2001 Turkey crisis on the risk determinants of Turkish commercial bank stocks.  International Journal of Economic Perspectives, 7 (4).   ISSN 1307-1637      (2013)