Öztürk Danışman, Gamze

Öztürk Danışman, Gamze

Name Variants

Öztürk Danışman, Gamze
G.,Öztürk Danışman
G. Öztürk Danışman
Gamze, Öztürk Danışman
Ozturk Danisman, Gamze
G.,Ozturk Danisman
G. Ozturk Danisman
Gamze, Ozturk Danisman
Danışman, Gamze Öztürk
Ozturk-Danisman, Gamze
Danisman, Gamze Ozturk

Job Title

Dr. Öğr. Üyesi

Email Address

Gamze.danısman@khas.edu.tr

Main Affiliation

International Trade and Finance

Status

Former Staff

Full item page

Scholarly Output

17

Articles

15

Citation Count

0

Supervised Theses

2 Scholarly Output Search Results

Now showing 1 - 10 of 17

Citation - WoS: 57
Citation - Scopus: 59
The Impact of Economic Uncertainty and Geopolitical Risks on Bank Credit
(Elsevier Inc., 2021) Demir, Ender; Öztürk Danışman, Gamze; Danışman, Gamze Öztürk
This paper compares the effects of economic uncertainty and geopolitical risks on bank credit growth. Using a sample of 2439 banks from 19 countries for the period of 2010–2019, our findings indicate that economic uncertainty causes a significant decrease in overall bank credit growth while no such significant overall effect of geopolitical risks is documented. Further analysis on loan types shows that the highest negative impact of economic uncertainty is observed on corporate loans. Geopolitical risk, however, dampens consumer and mortgage loans. Additional analyses on bank heterogeneity reveal that the credit behavior of foreign and publicly listed banks are more immune to such risks.
Citation - WoS: 61
Citation - Scopus: 73
Banking Sector Reactions To Covid-19: the Role of Bank-Specific Factors and Government Policy Responses
(Elsevier, 2021) Demir, Ender; Öztürk Danışman, Gamze; Danisman, Gamze Ozturk
This paper examines the impact of bank-specific factors and variations in the context of stringency of government policy responses on bank stock returns because of the COVID-19 pandemic. A sample of 1,927 publicly listed banks from 110 countries is used for the period of the first major wave of COVID-19, that is, January to May 2020. Our findings indicate that stock returns of banks with higher capitalization and deposits, more diversification, lower non-performing loans, and larger size are more resilient to the pandemic. While banks' environment and governance scores do not have a significant impact, higher social and corporate social responsibility strategy scores intensify the negative stock price reaction to COVID-19. We further observe that the pandemic induced reduction in bank stock prices is mitigated as the strictness of government policy responses increases, mainly through economic responses such as income support, debt and contract relief, and fiscal measures from governments.
Asimetrik Maliyet Davranışı ve Alıcıların Getirileri: A.b.d. Birleşmelerinden Bulgular
(2019) Ugurlu, Mine; Öztürk Danışman, Gamze; Danışman, Gamze Öztürk; Vural Yavaş, Çiğdem; Bılyay-erdogan, Seda; Vural-yavas, Cigdem
Bu çalışma alıcıların satış, genel ve yönetim maliyetlerinin asimetrik davranışlarını incelemekle birlikte; “Birleşme ve Satın Alma” performanslarına olan etkisini 1 yıllık olay penceresinden analiz etmektedir. Çalışma A.B.D.’de 2003-2015 yılları arasında tamamlanan 6,888 birleşme ve satınalmaya dayanmakta ve panel veri regresyonları kullanmaktadır. Sonuçlar alıcıların 73%’ünün maliyetlerinin asimetrik davranış sergilediğini göstermektedir. Birleşme duyurusunun ardından maliyet yapışkanlığı ile alıcıların olağandışı getirileri arasında anlamlı ve negatif bir ilişki olduğu saptanmıştır. Piyasadaki rekabet alıcıların getirilerini olumlu etkiler, ancak yapışkan maliyetlerin alıcıların olağandışı getirileri üzerindeki olumsuz etkisini daha da artırır. Ayrıca alıcıların temerrüt riskinin olağandışı getiriler üzerinde anlamlı ve negatif yönde etkisi vardır. Bununla birlikte, temerrüt riskinin getiriler üzerindeki olumsuz etkisi yapışkan olmayan maliyet yapısı olan alıcılar için daha kuvvetlidir. Alıcıların riski rekabetin getiriler üzerindeki pozitif etkisini azaltmaktadır. Bir yıllık olay penceresinden incelendiğinde, yapışkan maliyet yapısına sahip alıcıların yapışkan olmayan maliyet yapısına sahip alıcılara göre daha az olağandışı getirilere sahip olduğu gözlemlenmiştir. Bu çalışma 2003-2015 yılları arasında gerçekleşen birleşmelerde rol alan alıcıların asimetrik maliyet davranışlarını ortaya çıkararak ve alıcı firmaların daha düşük olağandışı getiri elde etmelerine alternatif bir açıklama getirerek literatüre katkıda bulunmuştur.
Citation - WoS: 1
Citation - Scopus: 3
The Effect of Pandemics on Domestic Credit: a Cross-Country Analysis
(Economics Bulletin, 2021) Danisman, Gamze Ozturk; Öztürk Danışman, Gamze; Demir, Ender
Using a panel of 140 countries covering the period 1996-2018, this paper examines how previous pandemics (such as SARS, MERS, Ebola, Swine flu, etc.) have influenced the lending behavior of banks. We take advantage of a new index developed by Ahir et al. (2020) which measures discussions about pandemics at the country level. Our findings reveal that uncertainty related to pandemics significantly hamper domestic credit available to the private sector. The negative effect of pandemics on credit levels is more prevalent for the low-income & emerging economies and non-OECD countries.
Citation - WoS: 2
Asymmetric Cost Behavior and Acquirer Returns: Evidence From U.s. Mergers
(Ege Univ, 2019) Uğurlu, Mine; Öztürk Danışman, Gamze; Öztürk Danışman, Gamze; Vural Yavaş, Çiğdem; Bilyay-Erdoğan, Seda; Vural-Yavaş, Çiğdem
This paper investigates the asymmetric behavior of the selling, general and administrative (SG&A) costs of acquirers, and reveals its effects on mergers & acquisitions (M&A) performance in a one-year event window. It is based on a sample of 6888 M&As completed in the U.S. during the 2003-2015 period and employs panel data regressions. The results show that 73% of the acquirers display asymmetric cost behavior. A significant negative relation is found between cost stickiness and acquirers' abnormal returns following the merger announcement. Competition in the market for corporate control is positively related with acquirer returns but exacerbates the negative effects of cost-stickiness on abnormal returns of acquirers. The acquirers' risk of default is significantly negatively related to the abnormal returns they generate. This adverse effect of default risk on returns is stronger for acquirers with anti-sticky costs. Acquirer risk offsets the positive effects of competition on returns. Acquirers with sticky costs have lower abnormal returns than those with anti-sticky costs in a one-year window. The present study contributes to the literature by revealing the asymmetric cost behavior of acquirers involved in merger activity during the last decade, and provides evidence for an alternative explanation for the lower abnormal returns of the acquiring firms.
Citation - WoS: 66
Citation - Scopus: 73
Economic Policy Uncertainty and Bank Credit Growth: Evidence From European Banks
(Elsevier B.V., 2020) Danışman, Gamze Öztürk; Ersan, Oğuz; Ersan, Oğuz; Öztürk Danışman, Gamze; Demir, Ender
Using a sample of 2977 private and listed banks in the EU-5 countries (the United Kingdom, Germany, Spain, Italy, France) for the years 2009–2018, this paper explores the impact of Economic Policy Uncertainty (EPU) on credit growth. Using panel data fixed effects methodology and controlling for endogeneity using two-step difference GMM estimators, our findings indicate that uncertainty in economic policies hampers the credit growth of European banks. Our bank type-based analyses indicate that the effect is mainly valid for cooperative banks. Additional analyses imply that the negative impact of EPU on credit growth is more pronounced in civil law countries, increases with debt maturity, and weakens for banks with a larger number of employees and branches. Furthermore, the unfavorable effects are stronger in well-capitalized banks, banks with foreign subsidiaries, and banks with a higher share of wholesale funding. We also provide several policy implications for different economic actors.
Citation - WoS: 0
Technological Innovations and Firm Internationalisation
(Sosyoekonomi Soc, 2022) Ozturk-Danisman, Gamze; Öztürk Danışman, Gamze
This paper explores the relevance of technological innovations for the internationalisation of manufacturing firms. It differentiates between two technological innovations: eco-innovations and generic-technological innovations (i. e., intelligent manufacturing). By pooling the Flash Eurobarometer-415 and -433 surveys, we use a broad firm-level sample of 4954 European and nonEuropean (the US and Switzerland) manufacturing firms. Appling the Heckman selection model, the findings indicate that eco-innovations positively affect the decision of the firms to internationalise whilst showing no significant impact on the level of international operations. On the other hand, generic-technological innovations positively affect both the decision and the level of global operations.
Citation - WoS: 68
Citation - Scopus: 82
Financial Inclusion and Bank Stability: Evidence From Europe
(Routledge Journals, 2020) Danışman, Gamze Öztürk; Öztürk Danışman, Gamze; Tarazi, Amine
The Great Recession of 2007-2009 piqued the interest of policymakers worldwide, prompting various initiatives to stabilize the financial system and advance financial inclusion. However, few studies have considered their interconnectedness or whether any synergies or trade-offs exist between them. This paper investigates how financial inclusion affects the stability of the European banking system. The findings indicate that advancements in financial inclusion through more account ownership and digital payments have a stabilizing effect on the banking industry. A deeper investigation shows that such a stabilizing impact is mainly driven by the targeting of disadvantaged adults who are young, undereducated, unemployed, and who live in rural areas. Hence, along with its known benefits to society as a whole, financial inclusion has the additional benefit of improving the stability of the financial system. Such findings call for policy configurations that are specifically designed to achieve financial inclusion for disadvantaged individuals.
Citation - WoS: 63
Citation - Scopus: 75
Loan Loss Provisioning of Us Banks: Economic Policy Uncertainty and Discretionary Behavior
(Elsevier Inc, 2021) Öztürk Danışman, Gamze; Öztürk Danışman, Gamze; Demir, Ender; Ozili, Peterson K.
This paper examines the effect of economic policy uncertainty (EPU) on loan loss provisions (LLP). Using a sample of 6384 US banks and yearly data from 2009 to 2019 and addressing endogeneity (GMM and IV estimations), the findings reveal that in times of higher economic policy uncertainty, banks tend to increase their loan loss provisioning. Considering the four components of EPU, the findings document that the majority of the explanatory power on loan loss provisions originates from news-based and tax expiration indices. Moreover, US banks discretionally use loan loss provisions in normal times, especially for capital management and income smoothing. In uncertain times, they use provisions for income smoothing rather than capital management and after controlling for the discretionary behavior, the positive relationship of EPU and LLPs continue to hold. Additional analysis indicates that private banks conduct more income smoothing through provisions in uncertain times as compared to listed banks. The findings of the study highlight EPU as an additional procyclical factor to influence bank provisioning behavior and offer some relevant policy implications.
Citation - WoS: 60
Citation - Scopus: 62
ESG performance and investment efficiency: The impact of information asymmetry
(Elsevier, 2024) Erdoğan, Seda; Öztürk Danışman, Gamze; Demir, Ender
This paper investigates the relationship between firms' engagement in environmental, social, and governance (ESG) activities and corporate investment efficiency, using 1,094 firms from 21 countries in Europe, covering the years 2002-2019. We conduct our estimations using fixed effects panel data techniques and address potential endogeneity with instrumental variables (IV) estimations. We provide evidence that overall ESG engagement is positively and significantly associated with investment efficiency. Analyzing overinvestment and underinvestment scenarios shows that ESG engagement decreases only overinvestment problems. Within the underinvestment scenario, we observe that ESG engagement is beneficial only for firms with higher information asymmetries. Thus, information asymmetry matters in the underinvestment case. We next show that four firm-level channels-information asymmetry, financial constraints, cash flows, and risk-link ESG performance to investment inefficiency. Additional analysis shows that firms with extreme ESG scores (i.e., very low and very high) do not experience significant reductions in investment inefficiency. Altogether, our findings draw attention to the critical role of ESG performance and information asymmetry in determining corporate investment efficiency.