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Browsing İktisat by Author "Akın, Güzin Gülsün."
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Item Determinants of customer satisfaction in the Turkish credit card market(Thesis (M.A.) - Bogazici University. Institute for Graduate Studies in Social Sciences, 2011., 2011.) Özçelik, Serap.; Akın, Güzin Gülsün.This thesis investigates factors affecting the satisfaction levels of Turkish credit card holders using a recent nationwide credit card consumer survey. Ordered pro bit model estimations show that among other things, financial literacy is a major determinant of credit card satisfaction. This has important policy implications for regulators. The results also indicate that wealth, education and occupation are consumer characteristics that play a role in one's credit card satisfaction level. Card limits and non-price card benefits are which are important for consumer happiness. Being a convenience user or having been delinquent in card payments are payment behaviours which affect one's card satisfaction, too.Item Essays on a two-sided market: credit card market in Turkey(Thesis (M.A.)-Bogazici University. Institute for Graduate Studies in Social Sciences, 2009., 2009.) Göllü, Gültekin.; Akın, Güzin Gülsün.The credit card markets are subject to many debates in all over the world caused by their two-sided complex structure. Turkish credit card market also involves many controversial issues which originates several regulations in the market such as credit card interest rate regulation in 2006. While two sided markets have externalities, making the market complex, such regulations may have unexpected effects on the unregulated parts of the market. This thesis aims to shed light on the link between the non-interest and interest revenues of banks in the credit card market as it examines the effects of the credit card interest rate regulation in the Turkish credit card market in 2006. In the first essay, we present a comprehensive survey of the literature on bank revenues in the credit card market. Investigating the existing empirical and theoretical studies, we conclude that although the large theoretical literature on credit cards is quite beneficial to understand the complex market mechanism, it is insufficient for policy recommendations since the results of theoretical models are quite sensitive to assumptions about the market. On the other hand, empirical studies carry vital importance to check the results of theoretical studies, to quantify the abstract calculations of theoretical models and to detect unexpected externalities in a specific market. In the second essay, we empirically investigate the effects of a regulation in one part of two-sided credit card market to the other side. Concentrating on the Turkey experience, the article monitors the effects of credit card interest rate regulation in 2006 on non-interest revenues of banks in the market. The results indicate that the regulation on interest rates changed the banks attitude about non-interest revenues, and induced banks to consider their costs more when deciding their non-interest income strategies. In the third essay, we analyze the relationship between the interest and non-interest revenues of banks. Using the available data for Turkey case we investigate the nature of the relationship between the two revenue types. Besides, we check evidence for the effect of the credit card interest rate regulation in 2006. Our results indicate that the interest rate regulation caused banks to shift their focus from regulated interest revenues to non-interest revenues. Moreover, the results detect that interest revenues has a negative effect on non-interest revenues. We argue that this result is due to the banks’ tendency to compete in non-interest revenues and the banks’ action to compensate their lost incomes from the regulated interest revenue. Looking at the results, we suggest careful consideration of the possible effects of a potential regulatory action to the unregulated parts of a credit card market when a regulatory action is planned.Item Essays on consumer behavior in the Turkish credit card market(Thesis (M.A.)-Bogazici University. Institute for Graduate Studies in Social Sciences, 2010., 2010.) Tunçez, Ahmet Mithat.; Akın, Güzin Gülsün.This thesis discusses the payment behavior of cardholders in the Turkish credit card market using primary data obtained from the Survey of Credit Card Usage conducted between April and June 2009 in 31 cities of Turkey with 2576 cardholders. This thesis consists of two essays. In the first essay, consumer characteristics related with credit cards are analyzed. After examining the reasons of credit card usage, the main factors affecting holding one or more credit cards are investigated. Moreover, the reasons for choosing a credit card brand as one’s main card are stated. Notably, non-price marketing tools such as installments turn out to be more effective strategies for credit card issuers to impress potential cardholders than price competition tools such as low interest rates or annual fees. Furthermore, the main reasons for nonpayment behavior of cardholders (such as an insufficient income or income shocks) are explored. In the second essay, different types of cardholders -convenience users, rational revolvers and irrational revolvers- are analyzed with logit and multinominal logit models using demographic, personal, financial and attitudinal characteristics of cardholders. The results show that public sector workers or cardholders who did more investigation before attaining their cards are more likely to be convenience users. On the other hand, making unnecessary purchases with credit cards increases the probability of being an irrational revolver while people who obtained their main credit cards by applying to other banks than their main banks have a bigger chance of rational revolvers.Item Household indebtedness and financial literacy in Turkey(Thesis (M.A.) - Bogazici University. Institute for Graduate Studies in the Social Sciences, 2015., 2015.) Daşdöğen, Sezgin.; Akın, Güzin Gülsün.This thesis aims to understand which factors affect households’ decision to enter the credit market and the amount of debt they obtain, using data from the Credit Card Consumer Survey conducted in 2009 on 2576 credit card users across Turkey. Since this data presents information about different subcategories of debt, namely formal, informal and credit card debt, we examine whether different debt types have similar or different determinants. The possible factors that can affect formal, informal, credit card and total debt are investigated under five main categories: financial literacy, life cycles, economic situation, ability to get credit, and demographics. Financial literacy is divided into three components: financial inclusion, financial knowledge and financial behavior. We show that, more than financial information, it seems that people’s financial behavior and attitudes make a difference in indebtedness levels and smart borrowing. Education to improve behavior (on money management, for example) and regulations on the usage of credit cards (to prevent imprudent behavior, for example) may be relevant policy tools to be employed. This thesis can serve as a useful beginning point for the rapidly growing Turkish credit market and it can contribute to the designing of various solutions for the rising indebtedness problem for different household profiles.Item The effects of the compulsory schooling law on education-occupation mismatch in the Turkish labor market(Thesis (M.A.) - Bogazici University. Institute for Graduate Studies in the Social Sciences, 2021., 2021.) Erarslan, Rabia.; Akın, Güzin Gülsün.In Turkey, the duration of compulsory schooling increased from 5 years to 8 years in 1997. With this substantial change, the average educational attainment of individuals increased. This thesis estimates the effects of the eight years of compulsory schooling law on the education-occupation mismatch in the Turkish labor market using Turkish Household Labor Force Survey data between 2006-2018 on individuals between the ages of 21 and 32. Three measurement approaches are applied to determine the required years of schooling for each occupation. Individuals are categorized as overeducated, undereducated, and adequately educated according to these measurement methods. To capture the effects of compulsory schooling on the likelihood of being in any mismatch category, multinomial logit models are run by controlling individuals’ characteristics. The empirical findings show that the change in years of compulsory schooling has no effect on the likelihood of being overeducated for either gender. The compulsory schooling reform has a significant and positive effect on the likelihood of being adequately educated for both women and men. The likelihood of being undereducated decreased for women and men with the education reform.Item The informal borrowing ratio in Turkey(Thesis (M.A.) - Bogazici University. Institute for Graduate Studies in the Social Sciences, 2019., 2019.) Gültürk, Ezgi Sevinç.; Akın, Güzin Gülsün.This study aims to analyze empirically the behavior of individuals with respect to the choice between formal and informal borrowing. Informal borrowing stands for the borrowing practiced through informal institutions such as friends, relatives, moneylenders, other informal financial institutions whereas formal borrowing is defined as borrowing from banks and other formal credit institutions. The examination of the reasons behind the preference of informal versus formal type of borrowing is expected to contribute to the understanding of the structure of credit markets with a demand side analysis. Data from the Credit Card Consumer Survey conducted in 2009 in Turkey is used, in which 1014 participants have positive debt. The zero/one inflated beta regression model is utilized to estimate the proportion of informal borrowing in total debt, allowing the possibility that the boundary values of zero and one are generated through different decision processes. The results indicate that while informal borrowing cannot be completely eliminated since it is an option especially for people who borrow in higher amounts or people who are credit constrained, it can be reduced by policy makers and pioneers of the financial sector through enhancing integration to formal financial services and finding solutions to credit constraints.