Meta-Synthesis of Factors Affecting the Securitization of Bank Claims Collateral through the Capital Market

Abstract

The securitization of bank claims collateral, as one of the modern financing instruments, can play an effective role in enhancing banks’ lending capacity and supporting the growth of production in the national economy. The purpose of this study is to present a comprehensive model for the securitization of bank claims collateral through the capital market, with a financing-oriented approach to economic enterprises active in various productive sectors. This study was conducted during the period 2023–2024 and, from a methodological perspective, is qualitative in nature and based on the meta-synthesis method. Accordingly, through a systematic search of scientific sources and the application of inclusion and exclusion criteria, the results of 15 relevant domestic and international studies were collected and analyzed using open, axial, and selective coding. The findings indicate that four main dimensions—legal, structural, economic, and behavioral—directly influence the success of the securitization process of bank claims collateral. In the legal dimension, the existence of legal gaps, regulatory complexity, and jurisprudential ambiguities are among the most significant barriers to the effective utilization of this instrument. In the structural dimension, factors such as information transparency, the quality of underlying assets, and the design of securitization contracts play a decisive role. In the economic dimension, variables such as credit risk, capital market conditions, and investors’ expected rate of return are of particular importance. Moreover, in the behavioral dimension, the application of behavioral economics concepts and nudges can strengthen the motivation of investors and financial institutions for active participation in the securitization process. Based on the meta-synthesis results, the proposed model provides a systematic and multidimensional framework for the securitization of bank claims collateral which, while reducing banks’ non-performing loans, contributes to strengthening productive enterprises and supporting production growth policies. The findings of this study can offer a practical foundation for policymakers, supervisory authorities, and banking managers in designing and implementing effective capital market–based financing strategies.