Türkiye’de Hayat ve Emeklilik Şirketlerinin Finansal Performansını Etkileyen Faktörlerin Panel Veri Analiziyle İncelenmesi
Investigation of Factors Influencing the Financial Performance of Life and Pension Companies in Turkey by Panel Data Analysis

Summary/Abstract: In this study, it is aimed to investigate the firm-specific factors and the COVID19 crisis that affect the financial performance of life and pension companies operating in the Turkish insurance sector with panel data analysis. For this purpose, 12 years of financial data covering the period 2009-2020 belonging to 24 companies are employed in the study. The return on assets ratio is employed as the dependent variable in the study. In addition, the variables such as company size, leverage ratio, retention rate, company capital, return on investment, loss ratio, liquidity level and company age and COVID-19 crisis are utilized as independent variables. The findings of the fixed effects panel data analysis demonstrate that variables such as company size, company capital, return on investment, company age and the COVID-19 crisis are significant variables in explaining the financial performance of life and pension companies in the sample. In addition, a U-shaped nonlinear association is found between company age and financial performance.

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