Risk-Oriented Efficiency Assessment within the Level of Capitalization for Financial Institutions: Evidence from Turkish Securities Firms
نویسندگان
چکیده
Securities firms are the leading institutions that facilitate flow of funds by performing key services both in primary and secondary markets. The assessment efficiency these has become a contemporary major issue due to increasingly intense competition, globalization, innovation capital As part nature business environment for such firms, risk-taking behaviors play role their efficiency. In addition, level capitalization more critical tool counterbalance risk Therefore, we aimed assess relationship between efficiency, risk, sample Turkish securities covering detailed data 2004 Q1 2021 Q4. After employing three-stage least-squares method panel-data framework, empirical findings showed there was positive significant incentive brokerage industry, which implied can improve through diversified portfolio. We further report also firms’ incentives could be explained higher risky-asset ratio needed larger amounts compensate losses. These results have potentially important implications industry’s prudent supervision underlined importance attaining long-term gains support development
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ژورنال
عنوان ژورنال: International Journal of Financial Studies
سال: 2022
ISSN: ['2227-7072']
DOI: https://doi.org/10.3390/ijfs10040110