Yazar "Sahin, Arzu" seçeneğine göre listele

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    Does Trade Credit Channel Operate in Turkey? An Analysis with CBRT Sector Statistics
    (Ege Univ, Fac Economics & Admin Sciences, 2019) Sahin, Arzu
    This paper aims to test trade credit channel in Turkey over the period from 2008 to 2016 using two data sets at sectoral level obtained from the aggregated accounts of Central Bank of the Republic of Turkey (CBRT) statistics. First sample consists of 7 main sectors and other sample involves 12 manufacturing-sub sectors. Dynamic panel data methods were applied to test whether monetary and nonmonetary factors of trade credit had an impact on both gross and net trade credit status. According to analysis results about trade credit received (gross), monetary policy restrictions has increased the trade credit usage of SME sized firm classes. Findings for net trade credit (net) showed that main-sectors medium sized firm groups became net trade credit receiver. These findings confirming substitution hypothesis conclude that trade credit channel has operated with the strongest effects on SME firms.
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    Financial Profile of Zombie Firms: Evidence from the Emerging Turkish Market
    (Sosyoekonomi Society, 2025) Sahin, Arzu
    This study examines the financial profile of zombie companies that damage other firms, sectors, and the economy in T & uuml;rkiye, an emerging market. To investigate the factors affecting the likelihood of becoming a zombie company, panel probit models are estimated using 241 non-financial listed firms on Borsa Istanbul from 2013 to 2019. Among these firms, 64 are classified as zombies. The results indicate that the probability of becoming a zombie is higher in companies that are more indebted, less efficient in asset usage, and younger. That is, less experienced companies that invest heavily in inefficient assets have the potential to become zombies and harm the economy in the long run.
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    Financing Challenges of the Agriculture: A Comprehensive Sectoral and Company-Level Financial Analysis for Türkiye
    (Eskisehir Osmangazi Univ, Fac Education, 2025) Sahin, Arzu
    In this study, a financial analysis was conducted on the agricultural sector of T & uuml;rkiye-which has a disproportionately low share in the real sector and stock market relative to its added value-as well as on a selected listed company within the sector for the period 2016-2022. The findings indicate that the sector's reliance on short-term borrowing to meet its external financing needs arising from low asset turnover and profitability increases financial risk and weakens both liquidity and profitability. The company chosen for the analysis managed to reduce borrowing costs and improve profitability through a strong financial structure and agricultural incentives. Despite structural and financial challenges, the sector offers growth and profit opportunities for companies with robust financial foundations.
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    Sectoral Concentration in Loans and Credit Risk: An Examination by Company Accounts in Turkey
    (Mehmet Akif Ersoy Univ, 2024) Sahin, Arzu; Acar, Elif
    This study examines the impact of sectoral concentration on credit default risk, drawing from economic theory and portfolio management principles, utilizing the Turkish aggregated sector-level data and banking data from 2009 to 2022. The study employs a panel data analysis framework to investigate the relationship between sectoral diversification in loans and credit risk, controlling for sector-specific variables. Unlike previous studies primarily reliant on banking system data, this research broadens the scope by incorporating the real sector credit usage data for the measurement of concentration. Additionally, instead of the commonly used Herfindahl-Hirschman Index, the study employs the Sector Concentration Index as a measure of concentration, allowing for a comparison of sector distribution with an ideal market sector distribution. The analysis considers not only the widely used indicator of credit risk, non-performing loans ratio in the banking system but also bad debt ratios in the real sector, thereby enhancing the understanding of credit risk dynamics. The analysis results, which show a significant positive relationship between sectoral concentration indices and non-performing ratios employed, reveal that sectoral credit concentration has an increasing effect on the credit risk level and offers insights into the optimal diversification strategies for mitigating credit risk in the banking sector.