Assessing the Impact of Managerial Capacity, Political Relationships, and Financial Crisis on Performance Improvement, Risk Management and Price Crash of accepted Banks in TEHRAN stock exchange: Combined method of data envelopment analysis and regression estimation of sls2
Subject Areas :Abdolmajid Kozehgar Kaliji 1 , abbas Pouraghajan 2 , Mohammad Abbasian 3
1 - Islamic Azad University Qaim Shahr branch
2 - Islamic Azad University Qaim Shahr branch
3 - Islamic Azad University Qaim Shahr branch
Keywords: management ability performance risk management falling stock prices,
Abstract :
Identifying the factors affecting the performance, risk and price of banks is important both from the perspective of shareholders and depositors and from the perspective of active elements in the market. Given that the financial market consists of the two main pillars of the money market and the capital market, the most important task of the capital market is to attract scattered capital and its optimal allocation to units that move both for economic development and to maintain the expected interests of investors. Therefore, banks, as the engine of financing the economy, are of special importance for other enterprises active in the economy, both for the government and for the banks themselves. Accordingly, identifying the factors and indicators affecting performance and profitability, risk management, as well as changes in their stock prices, both in terms of bank management and from a macroeconomic point of view, can guide the economy and governments. On the other hand, given that the main activity of banks is to provide facilities and loans to applicants, proper management of banking challenges and improving the factors affecting the efficiency and effectiveness of banking resources, can move the economic cycle in the right direction. Accordingly, the researcher analyzed the information of 11 banks in the 9-year period from 2009 to 2017 to assess the impact of management ability, political relations and financial crises on performance improvement, risk management and falling prices of banks listed on the stock exchange. Tehran Stock Exchange paid. The results of the analysis of hypotheses in three parts show that first, the ability to manage has no significant effects on any of the performance indicators of banks, including return on assets, return on capital, growth rate of shared income and growth rate of non-shared income, as well as management ability on liquidity risk effects. It is significant, but it does not affect credit, operational and bankruptcy risk. Finally, the ability to manage has not affected the risk of falling stock prices of banks. Second, political relations have only a positive and significant effect on the growth rate of shared income and have no significant effects on return on assets, return on capital and growth rate of non-shared income. Also, political relations have significant effects on liquidity risk and bankruptcy, but on risk. Credit and operations are not affected. Finally, political relations have not affected the risk of falling stock prices of banks. Third, financial crises only have a positive and significant effect on the growth rate of shared income and have no significant effects on return on assets, return on capital and growth rate of non-shared income. Also, financial crises have significant effects on credit risk, liquidity and bankruptcy. Does not affect operational risk Finally, financial crises have a statistically significant effect on the risk of falling stock prices of banks.
1. ابراهيمي كردلر، علي و شهرياري، عليرضا. (1394)، "بررسي رابطه بين هزينه‌هاي سياسي و محافظه كاري(فرضيه سياسي) در بورس اوراق بهادار تهران"، بررسي‌هاي حسابداري و حسابرسي، سال بيست و دوم، شماره 2 (پياپي 80)، تابستان، صص 3-16.
2. احمدی، علی؛ احمدی¬جشفقانی، حسین¬علی و اصغر، ابوالحسنی¬هستیانی. (1395)، " تأثیر ریسک اعتباری بر عملکرد نظام بانکی ایران: مطالعه بین بانکی با رویکرد PANEL VAR "، فصلنامه اقتصاد مالی، دوره 10، شماره 34، بهار، صص 131-152.
3. حسینی مقدم، سیدمحدرضا و حجازی، سیدرضا. (1392)، "تأثیر گرایش کارآفرینانه بر عملکرد بانک‌ها با متغیر میانجی بازارگرایی"، نشریه توسعه کارآفرینی، دوره 7، شماره 2 (پیاپی 24)، تابستان، 211-229.
4. خردمند, علی؛ پژوهی، محمدرضا و فاطمه، ضیاء الدینی دشت خاکی. (1396)، "بررسی تاثیر توانایی مدیریتی و کیفیت سود بر ریسک ریزش قیمت سهام شرکتهای پذیرفته شده در بورس اوراق بهادار تهران"، اولین کنفرانس ملی مطالعات نوین مدیریت در ایران، کرج، موسسه آموزش عالی علامه خویی و موسسه آموزش عالی معراج.
5. شاهچرا، مهشید و طاهری، ماندانا. (1395)، " ساز و‌کار انتقال سیاست پولی بر وام‌دهی بانک‌ها از طریق اقلام زیرخط ترازنامه"، فصلنامه پژوهشها و سیاستهای اقتصادی، سال بیست و چهارم، شماره 78، تابستان، صص 54-78.
6. عزتى، مرتضى؛ عاقلی، لطفعلى و نفیسه، کشاورز ساجى. (1395)، " عوامل موثر بر سودآوری بانکهای اسلامی (کشورهای عضو سازمان کنفرانس اسلامی)"، فصلنامه اقتصاد و بانکداري اسلامی، شماره پانزدهم، تابستان، صص153-139.
7. علی نژاد ساروکلائی، مهدی و ترفی، ستاره. (1396)، "تأثیر توانایی مدیریت بر سیاست تأمین مالی"، مجله دانش حسابداری، دوره 8، شماره 2 (پیاپی 29)، تابستان، صص 159-180.
8. فرهنگ، امیرعلی ؛ ابوالقاسم آثنی عشری؛ اصغر ابوالحسنی؛ محمدرضا رنجبر فلاح و جهانگیر بیابانی. (1395)، " درآمد غیربهره‌ای، ریسک و سودآوری در صنعت بانکداری"، مدلسازی اقتصادی، دوره 10، شماره 35، پاییز، صفحه 47-70.
9. لاری دشت بیاض، محمود؛ ابراهیمي، مجتبی و فهیمه، بالیده. (1396)، " بررسي رابطه افشا حسابداری، همزماني قیمت سهام و ریسک سقوط سهام در شرکتهای پذیرفته شده در بورس اوراق بهادار تهران"، ماهنامه پژوهشهای مدیریت و حسابداری، شماره سی و شش، خرداد، صص 119-137.
10. مهرآرا، محسن، مهران فر، مهدی، بهار 1392، "عملکرد بانکی و عوامل کلان اقتصادی در مدیریت ریسک"، فصلنامه مدلسازی اقتصادی، سال7، شماره 1.
11. Aning Sejati,Y.2009,Political connections and earnings quality : evidence from Malaysia.phd dissertation,Oklahoma state university
12. Boubakri, N.; Cosset, J. C.; and W. Saffar (2008). “Political Connections of Newly Privatized Firms.”,Journal of Corporate Finance, Vol. 14, pp. 654-673.
13. Boubakri, Narjess, Omrane Guedhami Dev Mishra, Walid Saffar, (2012), "Political connections and the cost of equity capital." Journal of Corporate Finance journal homepage: www.elsevier.com/locate/jcorpfin.
14. Boubakri. N , Claude.J, Saffar.W, (2012),"The impact of political connections on firms operating performance and financing decisions" , The Journal of Financial Research • Vol. 16, No. 3 PP 397-423
15. Chen. Chling. (2009). Bank Efficiency in Sub-Saharan Africa Middle –Income Countries IMF Working Paper, WP/09/14.
16. Freixas, Xavier/ Rochet, Jean-Charles, spring 2014, "Microeconomics of Banking, Monetary and Banking Research Institute, Central Bank of the Islamic Republic of Iran
17. Lina N, and I, Petraitytė. (2014), “Assessment of banks asset and liability management: problems and perspectives (case of Lithuania)”, Contemporary Issues in Business, Management and Education, Procedia - Social and Behavioral Sciences 110 (2014), pp 1082 – 1093.
18. Vaidyanathan, R. (1999), “Asset-liability management: Issues and trends in Indian context”, Asci Journal of Management, No.29. 39-48, 1999.
