2008 Küresel finansal krizin aracı kurumların karlılıklarına ve verimliliklerine etkileri

Abstract

The effects of 2008 global financial crisis on the profitability and the efficiency of brokerage firms, which are capital markets institutions, are researched in this study. Profitability of brokerage firms is examined by the calculating the return on asset ratios and return on equity ratios between 2005 and 2008. Changes in the total factor productivities of brokerage firms during 2005- 2008 are determined by using Data Envelopment Analysis based Malmquist index method. Results of the analysis show that average profitability and efficiency of brokerage firms decreased considerably during the global financial crisis. Average profitability ratios of brokerage firms got negative values only in 2008 during the analysis period. In addition, the total factor productivity of brokerage firms decreased by 20.9 % in 2008.