Türkiye'de faaliyet gösteren mevduat bankalarının teknik verimlilik analizi: Veri zarflama analizi ve sabit etki panel veri tekniği

This study aims to understand the impact of major macroeconomic and regulatory changes on technical efficiency measures of deposits banks operating in Turkey. In the first stage of the study, the technical efficiency scores are estimated by using Data Envelopment Analysis (DEA) over the period of 1990-2011. In the second stage, a fixed effect panel data model is conducted in order to investigate determinants of the technical efficiency measures. Empirical findings suggest that, the technical efficiency scores of Turkish deposits banks were improved significantly during the period under study. While the technical efficiency scores fluctuate substantially (in yearly basis) until 2001, they later become smoother, indicating a more stable phase of economic/financial environment. According to panel data regression results, the changes in the technical efficiency scores are not significantly explained by economic crises even if they play a premonitory role for the crises. Restructuring program introduced in 2001, on the other hand, has a significant, positive effect on the technical efficiency scores. Publicly traded banks outperform their non-publicly traded peers and being publicly traded has positive effect on the technical efficiency scores whereas capital adequacy ratio and number of branches have negative effects on the technical efficiency scores. Lastly, there is no robust relationship between the technical efficiency scores and non-performing loans (NPL), liquidity or profitability ratio. Key words: Efficiency, Data Envelopment Analysis, Turkish banking sector, Panel data analysis