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Efficiency and productivity analysis for intermediary institutions: Turkish capital markets case
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| Veröffentlicht in: | Journal of capital markets studies 4(2020), 2, Seite 193-208 |
|---|---|
| Personen und Körperschaften: | , , |
| Titel: | Efficiency and productivity analysis for intermediary institutions: Turkish capital markets case/ Guler Aras, Yasemin Karaman, Evrim Hacioglu Kazak |
| Format: | E-Book-Kapitel |
| Sprache: | Englisch |
| veröffentlicht: |
2020
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| Gesamtaufnahme: |
: Journal of capital markets studies, 4(2020), 2, Seite 193-208
, volume:4 |
| Schlagwörter: | |
| Quelle: | Verbunddaten SWB Lizenzfreie Online-Ressourcen |
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| 520 | |a Purpose-The purpose of this study is to investigate efficiency and productivity of Turkey's both brokeragesector and intermediary institutions (IIs) that have been active in Turkish capital markets.Design/methodology/approach-Data envelopment analysis (DEA) and Malmquist total factorproductivity index (MPI) are used to analyze efficiency and productivity of Turkey's both brokerage sectorand 51 Turkish IIs constantly operated between the years 2008 and 2018. Paid-in capital, administrativeexpenses and trading volumes are used as input, while net trading commissions and net profit/loss are used asoutput in analysis. The calculations of this analysis are made with DEAP 2.2 program and Python.Findings-The results reveal that during the analysis period, percentage of efficient institutions among 51 IIswas between 18% and 39% while the sector's mean efficiency score ranged between 52% and 65%. While 2009is the year with the highest number of efficient institutions, 2013 is observed to be the least. Finally, the resultsof productivity analysis indicate that all types of IIs are not fully productive during the related period. Thestriking finding obtained is that though there is a decrease in total productivity change, the technologicalchange has a positive effect on their productivity change.Originality/value-This study is a double-layered research paper that includes efficiency analysis by DEA inthe first step and productivity analysis by using MPI in the second step. | ||
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| contents | Purpose-The purpose of this study is to investigate efficiency and productivity of Turkey's both brokeragesector and intermediary institutions (IIs) that have been active in Turkish capital markets.Design/methodology/approach-Data envelopment analysis (DEA) and Malmquist total factorproductivity index (MPI) are used to analyze efficiency and productivity of Turkey's both brokerage sectorand 51 Turkish IIs constantly operated between the years 2008 and 2018. Paid-in capital, administrativeexpenses and trading volumes are used as input, while net trading commissions and net profit/loss are used asoutput in analysis. The calculations of this analysis are made with DEAP 2.2 program and Python.Findings-The results reveal that during the analysis period, percentage of efficient institutions among 51 IIswas between 18% and 39% while the sector's mean efficiency score ranged between 52% and 65%. While 2009is the year with the highest number of efficient institutions, 2013 is observed to be the least. Finally, the resultsof productivity analysis indicate that all types of IIs are not fully productive during the related period. Thestriking finding obtained is that though there is a decrease in total productivity change, the technologicalchange has a positive effect on their productivity change.Originality/value-This study is a double-layered research paper that includes efficiency analysis by DEA inthe first step and productivity analysis by using MPI in the second step. |
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| spelling | Aras, Güler VerfasserIn (DE-588)1044017929 (DE-627)771271921 (DE-576)396636004 aut, Efficiency and productivity analysis for intermediary institutions Turkish capital markets case Guler Aras, Yasemin Karaman, Evrim Hacioglu Kazak, 2020, Text txt rdacontent, Computermedien c rdamedia, Online-Ressource cr rdacarrier, DE-206 Open Access Controlled Vocabulary for Access Rights http://purl.org/coar/access_right/c_abf2, Purpose-The purpose of this study is to investigate efficiency and productivity of Turkey's both brokeragesector and intermediary institutions (IIs) that have been active in Turkish capital markets.Design/methodology/approach-Data envelopment analysis (DEA) and Malmquist total factorproductivity index (MPI) are used to analyze efficiency and productivity of Turkey's both brokerage sectorand 51 Turkish IIs constantly operated between the years 2008 and 2018. Paid-in capital, administrativeexpenses and trading volumes are used as input, while net trading commissions and net profit/loss are used asoutput in analysis. The calculations of this analysis are made with DEAP 2.2 program and Python.Findings-The results reveal that during the analysis period, percentage of efficient institutions among 51 IIswas between 18% and 39% while the sector's mean efficiency score ranged between 52% and 65%. While 2009is the year with the highest number of efficient institutions, 2013 is observed to be the least. Finally, the resultsof productivity analysis indicate that all types of IIs are not fully productive during the related period. Thestriking finding obtained is that though there is a decrease in total productivity change, the technologicalchange has a positive effect on their productivity change.Originality/value-This study is a double-layered research paper that includes efficiency analysis by DEA inthe first step and productivity analysis by using MPI in the second step., DE-206 Namensnennung 4.0 International CC BY 4.0 cc https://creativecommons.org/licenses/by/4.0/, Aufsatz in Zeitschrift DE-206, Karaman, Yasemin VerfasserIn aut, Hacioglu Kazak, Evrim VerfasserIn aut, Enthalten in Journal of capital markets studies Bingley : Emerald, 2017 4(2020), 2, Seite 193-208 Online-Ressource (DE-627)1013853148 (DE-600)2919974-8 (DE-576)49981424X 2514-4774 nnns, volume:4 year:2020 number:2 pages:193-208, https://www.emerald.com/insight/content/doi/10.1108/JCMS-08-2020-0032/full/pdf?title=efficiency-and-productivity-analysis-for-intermediary-institutions-turkish-capital-markets-case Verlag kostenfrei, https://doi.org/10.1108/JCMS-08-2020-0032 Resolving-System kostenfrei, https://doi.org/10.1108/JCMS-08-2020-0032 LFER, https://www.emerald.com/insight/content/doi/10.1108/JCMS-08-2020-0032/full/pdf?title=efficiency-and-productivity-analysis-for-intermediary-institutions-turkish-capital-markets-case LFER, LFER 2021-02-08T16:51:45Z |
| spellingShingle | Aras, Güler, Karaman, Yasemin, Hacioglu Kazak, Evrim, Efficiency and productivity analysis for intermediary institutions: Turkish capital markets case, Purpose-The purpose of this study is to investigate efficiency and productivity of Turkey's both brokeragesector and intermediary institutions (IIs) that have been active in Turkish capital markets.Design/methodology/approach-Data envelopment analysis (DEA) and Malmquist total factorproductivity index (MPI) are used to analyze efficiency and productivity of Turkey's both brokerage sectorand 51 Turkish IIs constantly operated between the years 2008 and 2018. Paid-in capital, administrativeexpenses and trading volumes are used as input, while net trading commissions and net profit/loss are used asoutput in analysis. The calculations of this analysis are made with DEAP 2.2 program and Python.Findings-The results reveal that during the analysis period, percentage of efficient institutions among 51 IIswas between 18% and 39% while the sector's mean efficiency score ranged between 52% and 65%. While 2009is the year with the highest number of efficient institutions, 2013 is observed to be the least. Finally, the resultsof productivity analysis indicate that all types of IIs are not fully productive during the related period. Thestriking finding obtained is that though there is a decrease in total productivity change, the technologicalchange has a positive effect on their productivity change.Originality/value-This study is a double-layered research paper that includes efficiency analysis by DEA inthe first step and productivity analysis by using MPI in the second step., Aufsatz in Zeitschrift |
| title | Efficiency and productivity analysis for intermediary institutions: Turkish capital markets case |
| title_auth | Efficiency and productivity analysis for intermediary institutions Turkish capital markets case |
| title_full | Efficiency and productivity analysis for intermediary institutions Turkish capital markets case Guler Aras, Yasemin Karaman, Evrim Hacioglu Kazak |
| title_fullStr | Efficiency and productivity analysis for intermediary institutions Turkish capital markets case Guler Aras, Yasemin Karaman, Evrim Hacioglu Kazak |
| title_full_unstemmed | Efficiency and productivity analysis for intermediary institutions Turkish capital markets case Guler Aras, Yasemin Karaman, Evrim Hacioglu Kazak |
| title_in_hierarchy | Efficiency and productivity analysis for intermediary institutions: Turkish capital markets case / Guler Aras, Yasemin Karaman, Evrim Hacioglu Kazak, |
| title_short | Efficiency and productivity analysis for intermediary institutions |
| title_sort | efficiency and productivity analysis for intermediary institutions turkish capital markets case |
| title_sub | Turkish capital markets case |
| topic | Aufsatz in Zeitschrift |
| topic_facet | Aufsatz in Zeitschrift |
| url | https://www.emerald.com/insight/content/doi/10.1108/JCMS-08-2020-0032/full/pdf?title=efficiency-and-productivity-analysis-for-intermediary-institutions-turkish-capital-markets-case, https://doi.org/10.1108/JCMS-08-2020-0032 |