HUMAN CAPITAL AND PROFITABILITY: CASE of TURKISH BANKING SECTOR

Hüseyin Nazmi Kartal Demirgüneş; Haluk Bengü; Elif Karakaş

doi:10.25287/ohuiibf.1563328

Araştırma Makalesi

HUMAN CAPITAL AND PROFITABILITY: CASE of TURKISH BANKING SECTOR

Yıl 2024, Cilt: 17 Sayı: 4, 1073 - 1088, 10.10.2024

Hüseyin Nazmi Kartal Demirgüneş , Haluk Bengü , Elif Karakaş

https://doi.org/10.25287/ohuiibf.1563328

Öz

This study aims to examine the effect of human capital on profitability of Turkish banking sector by a panel data covering 2009.q1-2022.q4. Throughout this aim, a research model based on a dependent variable as return on equity is set up. The independent variable to be focused is the Human Capital Efficiency Coefficient -mostly considered as the most significant sub-coefficient of the Value-Added Intellectual Coefficient Methodology developed by Ante Pulic (2004)- to measure intellectual capital efficiency. Besides, three control variables are included in the model to proxy balance sheet structure, assets quality and liquidity. Levin-Lin-Chu (LLC), Im-Pesaran-Shin (IPS) and Augmented Dickey Fuller (ADF) Fisher panel unit root tests, and Pedroni (1999) panel co-integration test are conducted in the econometric analyses to test the stationarity and co-integration among the series. Long term co-integration coefficients are estimated by Fully Modified Ordinary Least Squares (FMOLS) methodology proposed by Pedroni (2000). The empirical findings indicate the existence of a statistically significant and positive relationship between human capital and profitability; and statistically significant and negative relationships among human capital and assets quality, and human capital and liquidity. Another finding is that there exists no statistically significant relationship between human capital and balance sheet structure.Levin-Lin-Chu (LLC), Im-Pesaran-Shin (IPS) and Augmented Dickey Fuller (ADF) Fisher panel unit root tests, and Pedroni (1999) panel co-integration test are conducted in the econometric analyses to test the stationarity and co-integration among the series. Long term co-integration coefficients are estimated by Fully Modified Ordinary Least Squares (FMOLS) methodology proposed by Pedroni (2000). The empirical findings indicate the existence of a statistically significant and positive relationship between human capital and profitability; and statistically significant and negative relationships among human capital and assets quality, and human capital and liquidity. Another finding is that there exists no statistically significant relationship between human capital and balance sheet structure.

Anahtar Kelimeler

Human Capital, Profitability, Balance Sheet Structure, Aset Quality, Liquidity

Kaynakça

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İNSAN SERMAYESİ ve KÂRLILIK: TÜRK BANKACILIK SEKTÖRÜ ÜZERİNE BİR UYGULAMA

Yıl 2024, Cilt: 17 Sayı: 4, 1073 - 1088, 10.10.2024

Hüseyin Nazmi Kartal Demirgüneş , Haluk Bengü , Elif Karakaş

https://doi.org/10.25287/ohuiibf.1563328

Öz

Bu çalışmanın amacı; 2009.q1-2022.q4 dönemini kapsayan panel veri seti kullanılarak, insan sermayesinin Türk bankacılık sektörünün kârlılığı üzerindeki olası etkisinin irdelenmesidir. Bu amaç doğrultusunda, kârlılığın bağımlı değişken olarak özsermaye getirisi ile test edildiği bir araştırma modeli oluşturulmuştur. Modelin temel bağımsız değişkeni Ante Pulic (2004) tarafından geliştirilen ve entelektüel sermaye etkinliğini ölçmede kullanılan Entelektüel Katma Değer Katsayısı (Intellectual Value Added Coefficient-VAIC) Yöntemi’nin en önemli alt bileşeni olan İnsan Sermayesi Etkinliği (Human Capital Efficiency-HCE) Katsayısı’dır. Ayrıca, araştırma modeline kontrol değişkenleri olarak ilgili bankanın bilanço yapısı, aktif kalitesi ve likidite değişkenleri dâhil edilmiştir. Çalışmanın ekonometrik metodolojisi kapsamında, modele dâhil edilen değişkenlerin durağanlık ve eş-bütünleşme düzeylerinin tespit edilmesinde Levin-Lin-Chu (LLC), Im-Pesaran-Shin (IPS) ve Augmented Dickey Fuller (ADF) Fisher panel birim kök testleri ile Pedroni (1999) panel eş-bütünleşme testi kullanılmaktadır. Uzun dönem eş- bütünleşme katsayıları ise Pedroni (2000) tarafından önerilen (tam Modifiye Edilmiş En Küçük Kareler (Fully Modified Ordinary Least Squares-FMOLS) yöntemi ile tespit edilmektedir. Elde edilen ampirik bulgular, insan sermayesi etkinliğinin kârlılık üzerindeki etkisinin pozitif; buna karşın aktif kalitesinin ve likiditenin finansal performans üzerindeki etkilerinin negatif yönlü olduğunu göstermektedir. Elde edilen bir diğer ampirik bulgu ise kontrol değişkenlerinden olan bilanço yapısı değişkeninin, kârlılık üzerinde istatistiksel olarak anlamlı bir etkisinin bulunmadığıdır.Çalışmanın ekonometrik metodolojisi kapsamında, modele dâhil edilen değişkenlerin durağanlık ve eş-bütünleşme düzeylerinin tespit edilmesinde Levin-Lin-Chu (LLC), Im-Pesaran-Shin (IPS) ve Augmented Dickey Fuller (ADF) Fisher panel birim kök testleri ile Pedroni (1999) panel eş-bütünleşme testi kullanılmaktadır. Uzun dönem eş-bütünleşme katsayıları ise Pedroni (2000) tarafından önerilen (tam Modifiye Edilmiş En Küçük Kareler (Fully Modified Ordinary Least Squares-FMOLS) yöntemi ile tespit edilmektedir. Elde edilen ampirik bulgular, insan sermayesi etkinliğinin kârlılık üzerindeki etkisinin pozitif; buna karşın aktif kalitesinin ve likiditenin finansal performans üzerindeki etkilerinin negatif yönlü olduğunu göstermektedir. Elde edilen bir diğer ampirik bulgu ise kontrol değişkenlerinden olan bilanço yapısı değişkeninin, kârlılık üzerinde istatistiksel olarak anlamlı bir etkisinin bulunmadığıdır.

Anahtar Kelimeler

İnsan Sermayesi, Kârlılık, Bilanço Yapısı, Varlık Kalitesi, Likidite

Kaynakça

Ahmed, Z. N., & Hussin, M. R. A. (2023). Intellectual capital and firm performance: value-added intellectual coefficient. Journal of Accounting Research, Organization, and Economics, 6(2), 124-137.
Ahmed, Z. N., & Hussin, M. R. A. (2024). The effect of intellectual capital efficiency on Malaysian firm performance: a dynamic panel estimation. Management and Accounting Review, 23(1), 57-84.
Alain, D., Egide, K., & Zhan, S. (2014). Towards a better understanding of intellectual capital in Mexican SMEs. Journal of Intellectual Capital, 15, 316–332.
Albertini, E., & Berger-Remy, F. (2019). Intellectual capital and financial performance: a meta-analysis and research agenda. Management, 22(2), 216-249.
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Toplam 120 adet kaynakça vardır.

Ayrıntılar

Birincil Dil	İngilizce
Konular	Finans ve Yatırım (Diğer)
Bölüm	Makaleler
Yazarlar	Hüseyin Nazmi Kartal Demirgüneş 0000-0002-6305-0967 Haluk Bengü 0000-0001-7751-0285 Elif Karakaş 0000-0002-8088-1455
Yayımlanma Tarihi	10 Ekim 2024
Gönderilme Tarihi	8 Ekim 2024
Kabul Tarihi	8 Ekim 2024
Yayımlandığı Sayı	Yıl 2024 Cilt: 17 Sayı: 4

Kaynak Göster

APA	Demirgüneş, H. N. K., Bengü, H., & Karakaş, E. (2024). HUMAN CAPITAL AND PROFITABILITY: CASE of TURKISH BANKING SECTOR. Ömer Halisdemir Üniversitesi İktisadi Ve İdari Bilimler Fakültesi Dergisi, 17(4), 1073-1088. https://doi.org/10.25287/ohuiibf.1563328

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