Profitability of brokerage houses in Turkey
Bibliographic Data
| ID | 15067445 |
|---|---|
| Authors | Eyup Kadioglu (0000-0001-7836-868X, Investor Compensation Center, Capital Markets Board of Turkey, Ankara, Turkey, corresponding author), Burak Günalp (0000-0001-6546-4031, Department of Economics, Cankaya University, Ankara, Turkey) |
| Year | 2019 |
| Volume | 32 |
| Issue | 1 |
| Pages | 1583-1601 |
| Publication date | 2019-01-01 |
| Peer Reviewed | Yes |
| Open Access | Yes |
| Type | ARTICLE |
| Venue | Economic Research-Ekonomska Istraživanja (JOURNAL) |
| Journal identifiers | ISSN: 1331-677X • E-ISSN: 1848-9664 |
| Publisher | Informa UK Limited (PUBLISHER • GB) |
| DOI | 10.1080/1331677x.2019.1638282 |
| OpenAlex | W2957581813 |
| Language | EN |
| References cited | 41 |
This paper uses a direct measure of efficiency to examine the relationship between market structure and the performance of brokerage houses in Turkey. This methodology involves two stages: First, a stochastic translog cost frontier is specified to obtain a direct measure of efficiency. Second, this measure is included in a profitability equation along with market concentration and market share variables. These two equations are then estimated using quarterly data from 112 brokerage houses for the period 2008–2015. The results show that the efficiency of brokerage houses does not influence profitability when measured directly. Market share, on the other hand, is found to be one of the main determinants of profitability, providing support for the relative market power hypothesis
Business · Econometrics · Economics · Industrial organization · Market concentration · Market power · Market share · Market structure · Microeconomics · Monopoly · Profitability index · Computer Science · Economic and Environmental Valuation · Efficiency Analysis Using DEA · Housing Market and Economics · Finance
Barriers to New Competition
Efficiency of financial institutions
Industry Structure, Market Rivalry, and Public Policy
Relation of Profit Rate to Industry Concentration
Errors in Variables
Alternative Tests of Independence between Stochastic Regressors and Disturbances
On the estimation of technical inefficiency in the stochastic frontier production function model
Asymptotic Distributions of Instrumental Variables Statistics with Many Instruments
Efficiency Estimation from Cobb-Douglas Production Functions with Composed Error
Testing Identifiability and Specification in Instrumental Variable Models
Formulation and estimation of stochastic frontier production function models
Specification Tests in Econometrics
Empirical analysis of collusive behaviour in the Turkish deposits market
| Citation velocity | historical |
|---|---|
| Highly cited | No |