THE RESPONSE IN SPEED OF ADJUSTMENT ON FINANCIAL LEVERAGE TO PROFITABILITY IN PRIVATE BANKS APPLICATION OF DPD METHOD AND GMM-SYS ESTIMATOR

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ZAROKI SHAHRIAR; MOTAMENI MANI; SAFARZADEH AMIRI ABOLGHASAM

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Seminar Paper

Paper Information

Seminar: NATIONAL CONFERENCE ON MANAGEMENT AND HUMANITIES SCIENCE RESEARCH IN IRAN
Year:2017 | Issue:3

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Title

THE RESPONSE IN SPEED OF ADJUSTMENT ON FINANCIAL LEVERAGE TO PROFITABILITY IN PRIVATE BANKS APPLICATION OF DPD METHOD AND GMM-SYS ESTIMATOR

Author(s)

ZAROKI SHAHRIAR | MOTAMENI MANI | SAFARZADEH AMIRI ABOLGHASAM

Keywords

SPEED OF ADJUSTMENT

FINANCIAL LEVERAGE

PROFITABILITY

GMM-SYS

PRIVATE BANKS

Abstract

DECISIONS ABOUT CAPITAL STRUCTURE AS FINANCIAL LEVERAGE IS ONE OF THE MOST IMPORTANT ISSUES IN BANKS. WHILE EMPHASIZING THE ANALYSIS OF EFFECTIVE FACTORS ON FINANCIAL LEVERAGE, THE AIM OF THE STUDY IS TO EVALUATE THE REACTION IN SPEED OF ADJUSTMENT TO PROFITABILITY IN THE 15 BANKS LISTED ON THE TEHRAN STOCK EXCHANGE DURING 2010 TO 2015. FOR THIS PURPOSE, HAS BEEN USED THE PARTIAL ADJUSTMENT MODEL AND DYNAMIC PANEL DATA METHOD. THE RESULTS OF THE ESTIMATION BY GMM-SYS ESTIMATOR SHOWS THAT THE BANKS MOVE TO THE POTAINTIAL CAPITAL STRUCTURE WITH SPEED OF ADJUSTMENT IN 50 PERCENT AND WITHIN A YEAR COULD MAKE UP MORE THAN HALF OF DIVIATION IN POTAINTIAL LEVERAGE. PROFITABILITY IN ACCORDANCE WITH THE PECKINGORDER THEORY HAS NEGATIVE AND SIGNIFICANT IMPACT ON FINANCIAL LEVERAGE AND IT IS ALSO ASSOCIATED WITH A REDUCTION IN THE SPEED OF ADJUSTMENT. AS WELL AS GROWTH OPPORTUNITIES AND ASSET COLLATERAL IN ACCORDANCE WITH THE THEORY OF PECKINGORDER AND STATIC TRADE-OFF HAVE NEGATIVE IMPACT ON FINANCIAL LEVERAGE. TANGIBLE FIXED ASSETS AND FISCAL DEFICIT IN ACCORDANCE WITH THE STATIC TRADE-OFF THEORY HAVE A POSITIVE IMPACT ON FINANCIAL LEVERAGE.

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APA: Copy

ZAROKI, SHAHRIAR, MOTAMENI, MANI, & SAFARZADEH AMIRI, ABOLGHASAM. (2017). THE RESPONSE IN SPEED OF ADJUSTMENT ON FINANCIAL LEVERAGE TO PROFITABILITY IN PRIVATE BANKS APPLICATION OF DPD METHOD AND GMM-SYS ESTIMATOR. NATIONAL CONFERENCE ON MANAGEMENT AND HUMANITIES SCIENCE RESEARCH (1ST INTERNATIONAL AND 3RD NATIONA. SID. https://sid.ir/paper/948130/en

Vancouver: Copy

ZAROKI SHAHRIAR, MOTAMENI MANI, SAFARZADEH AMIRI ABOLGHASAM. THE RESPONSE IN SPEED OF ADJUSTMENT ON FINANCIAL LEVERAGE TO PROFITABILITY IN PRIVATE BANKS APPLICATION OF DPD METHOD AND GMM-SYS ESTIMATOR. 2017. Available from: https://sid.ir/paper/948130/en

IEEE: Copy

SHAHRIAR ZAROKI, MANI MOTAMENI, and ABOLGHASAM SAFARZADEH AMIRI, “THE RESPONSE IN SPEED OF ADJUSTMENT ON FINANCIAL LEVERAGE TO PROFITABILITY IN PRIVATE BANKS APPLICATION OF DPD METHOD AND GMM-SYS ESTIMATOR,” presented at the NATIONAL CONFERENCE ON MANAGEMENT AND HUMANITIES SCIENCE RESEARCH (1ST INTERNATIONAL AND 3RD NATIONA. 2017, [Online]. Available: https://sid.ir/paper/948130/en

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