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Piyasa Yapısı ve Talebin Belirleyicileri: Türkiye Havalimanları Üzerine Bir Panel Veri Analizi

Year 2023, Volume: 30 Issue: 1, 59 - 77, 09.03.2023
https://doi.org/10.18657/yonveek.1193780

Abstract

Bu araştırmanın amacı, havalimanındaki havayolu şirketi sayısını ve pazara olan talebi belirleyen faktörleri ortaya koymaktır. Ayrıca yoğunlaşma ölçüm araçları ile pazar yapısını ve pazar yapısındaki değişimi ortaya çıkarmak da bir diğer araştırma amacıdır. Türkiye'deki yirmi sekiz havalimanı, 2007-2018 yılları arasında panel veri analizi ile incelenmiştir. Genel olarak piyasa yapısına bakıldığında, yoğunlaşma değerlerinde zaman içinde düşüşler gözlenmiştir. Diğer bir deyişle, havalimanları zamanla daha rekabetçi hale gelmiştir. Panel veri sonuçları ilgili pazardaki yolcu sayısının, şehrin GSYH'sinin, üniversite öğrencisi sayısının, turist sayısının ve Hub Havalimanı'nın, havalimanlarındaki havayolu sayısını anlamlı bir biçimde etkilediğini göstermektedir. Diğer taraftan ilgili pazardaki havayolu işletmesi sayısının, şehrin GSYH'sinin, havalimanının bulunduğu şehirde yaşayan nüfusun, üniversite öğrencisi sayısının, Hub Havalimanı'nın varlığının ve turist sayısının havalimanlarındaki talep üzerinde anlamlı etkiye sahip olduğu görülmektedir. Bu araştırmadan elde edilen sonuçların, pazarın yapısı ve talebe ilişkin sunduğu yeni modeller ile yazına katkı sağlayacağı düşünülmektedir. Araştırmanın talebi tahmin etme konusunda havayolu şirketlerine ve havalimanı yöneticilerine yol göstereceği düşünülmektedir.
Anahtar Kelimeler: Havaalanları, Panel Veri, Havayolu Talebi, Pazar Yapısı, Rekabet.
JEL Sınıflandırması: L11, L93, R41

References

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Determinants of Market Structure and Demand: A Panel Data Study on Turkish Airports

Year 2023, Volume: 30 Issue: 1, 59 - 77, 09.03.2023
https://doi.org/10.18657/yonveek.1193780

Abstract

The aim of this research is to reveal the factors that determine the number of airlines at the airport and the demand for the market. In addition, another objective of the research is to reveal the market structure and the changes in the market structure using concentration measurement tools is another research purpose. The twenty-eight airports in Turkey were examined by panel data analysis between the years 2007-2018. Regarding the market structure in general, decreases have been observed in the concentration values over time. In other words, airports have become more competitive over time. The panel data results show that the number of airlines at airports is strongly influenced by the number of passengers in the relevant market, the city’s GDP, the number of university students, the number of visitors, and the hub airport. On the other hand, it is evident that the number of airline carriers operating in the relevant market, the city’s GDP, its population, the number of university students, the presence of a hub airport, and the number of tourists have a substantial impact on the demand at airports. Results obtained in this research will contribute to the literature by providing new models of market structure and demand. It is thought that the research will guide airline companies and airport managers in terms of predicting demand.
Key Words: Airports, Panel Data, Air Travel Demand, Market Structure, Competition.
JEL Classification: L11, L93, R41

References

  • Abed, S. Y., Ba-Fail, A. O., and Jasimuddin, S. M. (2001), ‘’An econometric analysis of international air travel demand in Saudi Arabia’’, Journal of Air Transport Management, Vol. 7 No. 3, pp. 143-148.
  • Abramowitz, A. D., and Brown, S. M. (1993), ‘’Market share and price determination in the contemporary airline industry’’, Review of Industrial Organization, Vol. 8 No. 4, pp. 419-433.
  • Aderamo, A. J. (2010), ‘’Demand for air transport in Nigeria’’, Journal of Economics, Vol. 1 No. 1, pp. 23-31.
  • Akan, Y. (2002), ‘’Türk İmalat Sanayinde Yoğunlaşma: 1980-86’’, Iktisat Isletme ve Finans, Vol. 17 No. 198, pp. 91-97.
  • Akomea, S. Y., and Adusei, M. (2013), ‘’Bank recapitalization and market concentration in Ghana’s banking industry: A Herfindahl-Hirschman Index analysis’’, Global Journal of Business Research, Vol. 7 No. 3, pp. 31-45.
  • Belobaba, P. P., and Van Acker, J. (1994), ‘’Airline market concentration: An analysis of US origin-destination markets’’, Journal of Air Transport Management, Vol. 1 No. 1, pp. 5-14.
  • Bhadra, D. (2002), ‘’Demand for air travel in the United States: Bottom-up econometric estimation and implications for forecasts by origin-destination pairs’’, in AIAA's Aircraft Technology, Integration, and Operations (ATIO) 2002 Technical Forum, p. 5861, doi: 10.2514/6.2002-5861.
  • Bhadra, D., and Wells, M. (2005), ‘’Air travel by state: Its determinants and contributions in the United States’’ Public Works Management & Policy, Vol. 10 No. 2, pp. 119-137.
  • Blažková, I. (2016), ‘’Convergence of Market Concentration: Evidence from Czech Food Processing Sectors’’, Agris on-line Papers in Economics and Informatics, Vol. 8 No. 4, pp. 25-36, doi: 10.7160/aol.2016.080403.
  • Borenstein, S., Bushnell, J., and Knittel, C. R. (1999), ‘’Market power in electricity markets: Beyond concentration measures’’, The Energy Journal, Vol. 20 No. 4, pp. 65-88.
  • Celebi, E., and Fuller, J. D. (2012), ‘’Time-of-use pricing in electricity markets under different market structures’’, IEEE Transactions on Power Systems, Vol. 27 No. 3, pp. 1170-1181.
  • Dai, M., Liu, Q., and Serfes, K. (2014), ‘’Is the Effect of Competition on Price Dispersion Nonmonotonic? Evidence from the U.S. Airline Industry’’, The Review of Econonomics and Statistics, Vol. 96 No. 1, pp. 161-170, doi:10.1162/REST_a_00362.
  • Dantas, T. M., Oliveira, F. L. C., and Repolho, H. M. V. (2017), ‘’Air transportation demand forecast through Bagging Holt Winters methods’’, Journal of Air Transport Management, Vol. 59, pp. 116-123, doi: 10.1016/j.jairtraman.2016.12.006.
  • Dobruszkes, F., Lennert, M., and Hamme, G. V. (2011), ‘’An analysis of the determinants of air traffic volume for European metropolitan areas’’, Journal of Transport Geography, Vol. 19 No. 4, pp. 755-762, doi:10.1016/j.jtrangeo.2010.09.003.
  • Doganis, R. (2002), Flying off course: The economics of international airlines, Routledge.
  • Doganis, R. (2005), The airport business, Routledge.
  • Doganis, R. (2006), Airline business 2nd edition, Routledge.
  • Duval, D. T. (2013), ‘’Critical issues in air transport and tourism’’, Tourism Geographies, Vol. 15 No. 3, pp. 494–510, doi:10.1080/14616688.2012.675581.
  • Field, A. (2009), Discovering statistics using SPSS, Sage publications.
  • Finkel, S. E. (1995), Causal analysis with panel data (No. 105), Sage.
  • Fleurbaey, M., and Blanchet, D. (2013), Beyond GDP: Measuring welfare and assessing sustainability, Oxford University Press.
  • Gerede, E. (2010), ‘’The Evolution of Turkish Air Transport Industry: Significant Developments and the Impacts of 1983 Liberalization’’, Journal of Management & Economics, Vol. 17 No. 2, pp. 63-91.
  • Gerede, E. (2011), ‘’Türkiye’deki Havayolu Taşımacılığına İlişkin Ekonomik Düzenlemelerin Havayolu İşletmelerine Etkisinin Değerlendirilmesi’’, Celal Bayar Üniversitesi Sosyal Bilimler Dergisi, Vol. 9 No. 2, pp. 505-537.
  • Gerede, E., and Orhan, G. (2015), ‘’Türk havayolu taşımacılığındaki ekonomik düzenlemelerin gelişim süreci’’, Gerede, E. (Ed.), Havayolu taşımacılığı ve ekonomik düzenlemeler teori ve Türkiye uygulaması, SHGM, Ankara, pp. 163-208.
  • Giaume, S., and Guillou, S. (2004), ‘’Price discrimination and concentration in European airline markets’’, Journal of Air Transport Management, Vol. 10 No. 5, pp. 305-310.
  • Graham, A. (2008), Managing Airports 3rd edition: An international perspective, Butterworth-Heinemann.
  • Graham, D. R., Kaplan, D. P., and Sibley, D. S. (1983), ‘’Efficiency and competition in the airline industry’’, The Bell Journal of Economics, Vol. 14 No. 1, pp. 118-138.
  • Gwartney, J., Stroup, R., Sobel, R. and Macpherson, D. (2008), Microeconomics: Private and Public Choice, South-Western, Cengage Learning.
  • Hanlon, P. (2007), Global airlines 3rd edition, Butterworth-Heinemann.
  • Hannan, T. H. (1997), ‘’Market share inequality, the number of competitors, and the HHI: An examination of bank pricing’’, Review of Industrial Organization, Vol. 12 No. 1, pp. 23-35.
  • Hsiao, C. (2007), ‘’Panel data analysis—advantages and challenges’’, Test, Vol. 16 No. 1, pp. 1-22.
  • Hurdle, G. J., Johnson, R. L., Joskow, A. S., Werden, G. J., and Williams, M. A. (1989), ‘’Concentration, potential entry, and performance in the airline industry’’, The Journal of Industrial Economics, Vol. 38 No. 2, pp. 119-139.
  • Ippolito, R. A. (1981), ‘’Estimating airline demand with quality of service variables’’, Journal of Transport Economics and Policy, Vol. 15 No. 1, pp. 7-15.
  • Jorge-Calderón, J. D. (1997), ‘’A demand model for scheduled airline services on international European routes’’, Journal of Air Transport Management, Vol. 3 No. 1, pp. 23-35.
  • Kaynak, S. (2016), ‘’Giyim Eşyası İmalatı Piyasa Yapısı ve Yoğunlaşma Oranı: Türkiye'nin İlk 500 Sanayi Kuruluşu Üzerine Bir Uygulama’’, Bülent Ecevit Üniversitesi Uluslararası Yönetim İktisat ve İşletme Dergisi, Vol. 12 No. 30, pp. 21-37, doi: 10.17130/ijmeb.20161224223
  • Kiracı, K , Yaşar, M , Kayhan, S and Ustaömer, T . (2017), ‘’A Concentration Analysis In The Turkish Domestic Air Transportation Industry using with CRm and Herfindahl-Hirschman Indexes’’, Gaziantep University Journal of Social Sciences, Vol. 16 No. 3, pp. 687-704, doi: 10.21547/jss.287910.
  • Kumar, M., Arora, A., and Lahille, J. P. (2011), ‘’Construct of credit risk management index for commercial banks’’, Banks and Bank Systems, Vol. 6 No. 1, pp. 16-25.
  • Lijesen, M. G., Nijkamp, P., and Rietveld, P. (2002), ‘’Measuring competition in civil aviation’’, Journal of Air Transport Management, Vol. 8 No. 3, pp. 189-197.
  • Lijesen, M. G. (2004), ‘’Adjusting the Herfindahl index for close substitutes: an application to pricing in civil aviation’’, Transportation Research Part E: Logistics and Transportation Review, Vol. 40 No. 2, pp. 123-134, doi: 10.1016/S1366-5545(03)00045-0.
  • Marin, P. L. (1995), ‘’Competition in European aviation: Pricing policy and market structure’’, The Journal of Industrial Economics, Vol. 43 No. 2, pp. 141-159.
  • McConnell, C. R., Brue, S. L., and Flynn, S. M. (2018), Economics: Principles, Problems and Policies, McGraw-Hill Education.
  • Orhan, G., and Gerede, E. (2013), ‘’A study of the strategic responses of Turkish airline companies to the deregulation in Turkey’’, Journal of Management Research, Vol. 5 No. 4, pp. 34-63.
  • Pan, C. M. (2005), ‘’Market structure and profitability in the international tourist hotel industry’’, Tourism Management, Vol. 26 No. 6, pp. 845-850, doi: 10.1016/j.tourman.2004.04.008.
  • Parkin, M. (2011), Economics, Addison-Wesley.
  • Pehlivanoğlu, F., and Tekçe, E. (2013), ‘’Türkiye elektrik enerjisi piyasasında Herfindahl-Hirschman ve CRm endeksleri ile yoğunlaşma analizi’’, Abant İzzet Baysal Üniversitesi Sosyal Bilimler Enstitüsü Dergisi, Vol. 28 No. 28, pp. 363-386.
  • Phillips, O. R., Weatherford, L. R., Mason, C. F., and Kunce, M. (2005), ‘’Passenger leaks and the fate of small community air service’’, Economic Inquiry, Vol. 43 No. 4, pp. 785-794.
  • Rhoades, S. A. (1993), ‘’The herfindahl-hirschman index’’, Fed. Res. Bull., Vol. 79, p. 88.
  • Rhoades, S. A. (1995), ‘’Market share inequality, the HHI, and other measures of the firm-composition of a market’’, Review of industrial organization, Vol. 10 No. 6, pp. 657-674.
  • Robinson, J. C. (2011), ‘’Hospital market concentration, pricing, and profitability in orthopedic surgery and interventional cardiology’’, American Journal of Managed Care, Vol. 17 No. 6, pp. 241-248.
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There are 64 citations in total.

Details

Primary Language English
Journal Section Articles
Authors

Mehmet Yaşar 0000-0001-7237-4069

Publication Date March 9, 2023
Published in Issue Year 2023 Volume: 30 Issue: 1

Cite

APA Yaşar, M. (2023). Determinants of Market Structure and Demand: A Panel Data Study on Turkish Airports. Yönetim Ve Ekonomi Dergisi, 30(1), 59-77. https://doi.org/10.18657/yonveek.1193780