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

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 Count: 29
Bank Credit in Uncertain Times: Islamic Vs. Conventional Banks
(Elsevier Ltd, 2020) Bilgin, Mehmet Hüseyin; Danışman, Gamze Öztürk; Demir, Ender; Tarazi, Amine
This paper explores whether the impact of economic uncertainty on credit growth differs for Islamic vs. conventional banks. Using a sample of 416 banks (58 Islamic and 358 conventional) in 12 countries, the findings indicate that an increase in economic uncertainty significantly decreases the credit growth of conventional banks but does not have any significant impact on Islamic banks’ credit growth. Our results are robust to alternative specifications and addressing endogeneity concerns using GMM estimators. We further observe that our findings are stronger for the following countries: (1) countries with explicit deposit insurance protection system for Islamic banks, (2) lower foreign dominance, and (3) countries with a higher share of deposits and assets in Islamic banks.
Citation Count: 6
ESG performance and investment efficiency: The impact of information asymmetry
(Elsevier, 2024) Bilyay-Erdogan, Seda; Danisman, Gamze Ozturk; 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.
Determinants of Bank Lending 'evidence From Brics Countries'
(Kadir Has Üniversitesi, 2023) Ahmed, Abdullai; Öztürk Danışman, Gamze
This thesis aims to investigate the determinants of bank lending for the countries forming BRICS, namely Brazil, Russia, India, China, and South Africa. The empirical analysis is performed using a sample of 130 listed commercial banks between 2000 and 2021. While bank-level data is obtained from Thomson Reuters Refinitiv Eikon, country-level data is extracted from the World Bank. The study uses panel data estimation techniques with fixed effects regression models. Study findings show that bank size, capital adequacy ratio, credit risk, the share of deposits and return on asset have a direct influence on bank lending in BRICS countries since all these variables are statistically significant. Larger banks are observed to lend more, and banks with higher shares of deposit, higher capital adequacy ratios, higher return on assets and higher credit risk are observed to lend more. Country-level variables such as gross domestic product per capita, real interest rate, deposit interest rate, and lending interest rate have no direct impact on bank lending. In contrast, banks in countries with higher inflation lend more. This study points out differences in the determinants of bank lending in the BRICS countries versus the rest of the world and offers important policy implications.
Index Composition Changes Around the World: a Comprehensive Literature Review
(Kadir Has Üniversitesi, 2023) Yenikalaycı, Yunus Emre; Öztürk Danışman, Gamze
This paper aims to provide a comprehensive literature review on composition changes for benchmark indexes not only for popular indexes such as the S&P 500 but for also global counterparts both in the developed world and the emerging market realm. By shedding light on the phenomena at play for index changes we seek to provide an overview starting from the roots of the literature to modern day works that reflect the current state of the topic and also where it is going. The theme of our study is orientated around the discussion range between information effects associated with index inclusions and exclusions, implications for liquidity, price pressure and demand shocks resulting with demand curve shifts and slopes for the demand curves of stocks and other subtopics such as thematic index composition changes. We dive into whether index composition changes en masse are rooted in information and/or demand driven explanations around the world.
Citation Count: 42
Loan Loss Provisioning of Us Banks: Economic Policy Uncertainty and Discretionary Behavior
(Elsevier Inc, 2021) 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 Count: 51
Financial Inclusion and Bank Stability: Evidence From Europe
(Routledge Journals, 2020) Danışman, Gamze Öztürk; 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 Count: 44
Economic Policy Uncertainty and Bank Credit Growth: Evidence From European Banks
(Elsevier B.V., 2020) Danışman, Gamze Öztürk; Ersan, Oğuz; 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 Count: 1
Asimetrik Maliyet Davranışı ve Alıcıların Getirileri: A.b.d. Birleşmelerinden Bulgular
(2019) Ugurlu, Mine; Danışman, Gamze Öztürk; 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 Count: 1
Asymmetric Cost Behavior and Acquirer Returns: Evidence From U.s. Mergers
(Ege Univ, 2019) Uğurlu, Mine; Öztürk Danışman, Gamze; 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 Count: 0
Technological Innovations and Firm Internationalisation
(Sosyoekonomi Soc, 2022) Ozturk-Danisman, 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.