Bilanço Dışı Kalemlerin Bankaların Firma Değerine Etkisi: Türk Mevduat Bankaları Üzerine Bir Uygulama

Off-balance sheet transactions are transactions that are not included in the balance sheets of banks but affect their profit and loss accounts. In this study, the effects of off-balance sheet items on firm values of 10 deposit banks traded in the BIST Banking Index between 2010 and 2023 are analysed. Derivatives, commitments, guarantees and sureties, which are off-balance sheet items of banks, are considered as independent variables, while market to book value ratio is used as the dependent variable. In the study, the existence of long-run relationships is analysed by Westerlund Cointegration Test and AMG and CCE methods are used for coefficient estimations. As a result of the analyses, it is found that derivative products of banks generally have an inverse effect on market to book value ratio, surety amounts generally have a positive effect on market to book value ratio, while the effect of commitment amounts varies from bank to bank and generally has no significant effect on market to book value ratio.