جستجوی مقالات مرتبط با کلیدواژه « financial stability » در نشریات گروه « اقتصاد »

The importance of the life cycle of organizations, especially financial and commercial organizations, is that these organizations have different characteristics at different stages of their life cycle; Therefore, one of the most important concerns of an economic and financial organization is to determine how to finance its investment and operational activities throughout its life cycle, in such a way that the efficiency and stability (reduction of risk) of the organization is maximized so that they can increase their organizational value in this way to improve as much as possible. Basically, economic enterprises have the main role of providing financial resources in developing countries. Also, these companies have a high debt-to-asset ratio due to customer investment. Due to the mentioned reasons, they are more affected by the regulations in such a way that they should have the ability to respond more to the rights of depositors, reduce their risk and ensure the stability of the payment system. In other words, every economic enterprise is looking for more financial stability and attracting investors. In the meantime, one of the most important economic organizations is the stock exchange organization. The stock exchange provides long-term capital for the main sectors of the economy, including business and government. Therefore, examining the organizational health and complications in the stock exchange organization and a model that can provide strategic organizational complications in such an important economic organization is highly necessary. Based on this goal, the main question of the current research is: "What indicators is the organizational strategic problem-solving model using financial indicators based on the organizational life cycle in Tehran Stock Exchange organization?"

In this study, the research method is correlational (descriptive) in terms of its nature and content, which uses data extracted from the financial statements of companies admitted to the Tehran Stock Exchange to analyze the correlation relationship. The approach of conducting this research will be done in the framework of deductive-inductive reasoning. Basically, the reason for using the correlation method is to discover the correlation between research variables. In this research, first the correlation between research variables will be tested and if the existence of correlation between variables is proven, multiple regression models will be estimated. On the other hand, since the current research is based on the analysis of past data and information (financial statements of companies admitted to the Tehran Stock Exchange), it can be considered as a semi-experimental or post-event research. Also, the method of data analysis in the current research will be of the panel data type, and in terms of the purpose and method, it is considered to be of the applied and descriptive-correlation type, respectively. The statistical population also includes all the companies admitted to the Tehran Stock Exchange in the period of years 2016 to 2020, the final sample volume is determined using the systematic elimination method after applying the restrictions

According to the obtained results, the variables of company losses, company size, fixed assets, company value, and return on equity are not significant in the model, and the variable of financial leverage has a positive and significant effect, and the variables of return on assets and company liquidity have an inverse and significant effect in the model. Based on the goodness of fit indices of the model, it can be seen that the significance level of the F statistic of the analysis of variance is lower than the first type error of 0.05 and it indicates the significance of the estimated regression model. Also, the modified coefficient of determination of the model shows that 76.99% of the changes in the financial stability of the company are explained by the independent variables of this model. Also, the result of Durbin-Watson's statistical estimation in order to confirm the independence of the error components shows that this statistic is estimated with a value of 2.02. Since this value is between the experimental value of 1.5 and 2.5, the assumption of independence of error components can be accepted.According to the obtained results, the variables of company losses, company size, fixed assets, company value, and return on equity are not significant in the model, and the variable of financial leverage has a positive and significant effect, and the variables of assets return and company liquidity have an inverse and significant effect in the model.According to the obtained results, the variables of company size and value of the company are not significant in the model, and the variables of financial leverage, company losses and fixed assets have a positive and significant effect, and the variables of asset return,company liquidity and return on equity have an inverse and significant effect in the model. Have had. Therefore, according to the results obtained in the above models, in order to optimize the model and identify the correct and strategic indicators in the influence of financial indicators on the financial stability of companies, the variables of company size and company value, which were insignificant in all three models, were removed from the model and the model The final one is implemented based on other financial indicators that are extracted based on the organizational life cycle of the companies, which will be examined in the following of this model.

Paying attention to the results obtained in the above models in order to optimize the model and identify the correct and strategic indicators in the influence of financial indicators on the financial stability of companies, the variables of company size and company value, which were insignificant in all three models, were removed from the model and the final model was based on The basis of other financial indicators based on the organizational life cycle of companies was extracted. Of these, the variable of financial leverage had a positive and significant effect on the financial stability of companies, and the variables of asset return and company liquidity had an inverse and significant effect, and the rest of the variables did not have a significant effect. According to the obtained results, the indicators of financial leverage, return on assets and liquidity of companies can be presented as complications in companies, that companies can achieve financial stability and better performance by controlling these three indicators, and the lack of control of these three indicators causes the existence of There will be important complications in companies that may lead the company to bankruptcy.

Financial stability for various reasons, including financial freedom, which is the basis of the interaction between the perception of value and risk, which leads to different effects on policy makers' goals on economic variables. One of the parts of influencing financial stability is the monetary policy, which affects the market of financial assets through the price mechanism. The purpose of this paper was to investigate the effect of the financial stability on monetary policy based on the non-linear model in developing countries. In this study, the Nonlinear Autoregressive Distributed Lags (NARDL) model and statistical data for the period 2000-2023 for developing countries including Iran were used. In order to investigate the effect of financial stability on monetary policy, a non-linear model was used. The results obtained from this study indicated that the variable of inflation rate had a positive effect on monetary policy in the short and long term, but the exchange rate, production and financial stability have a negative effect on the monetary policy. In addition to this model, it was observed in the estimated nonlinear model that the positive and negative values caused by the financial stability shock had asymmetric effects on monetary policy in developing countries.

The purpose of this study is to investigate the impact of social responsibility on financial performance, financial stability and financial inclusion in the banking sector. This research is of library type and factor analysis and is based on panel data analysis. In this research, the financial information of 13 banks listed on the Tehran Stock Exchange during the period 2015-2019 has been analyzed. In this study, to evaluate financial performance, four criteria of return on assets, return on equity, earnings per share and net profit, as well as measuring the financial inclusion of two criteria, the number of bank branches and the number of ATMs and also to measure financial stability from Z used. The results of testing the hypotheses show that social responsibility has a positive and significant effect on financial performance (Hypothesis 1), social responsibility has a positive and significant effect on financial stability (Hypothesis 2) and social responsibility has a significant effect on financial inclusion (Hypothesis 3).  Also, the variables of leverage and tangibility have a negative and significant effect with alternative variables of financial performance, and the variables of age and size of banks have a positive and significant effect on financial performance. The variables of financial leverage, age and size of the bank have a significant effect on the variable of financial stability. But the tangibility of the variable has no significant effect. The variables of tangibility, age and size of the bank also have a significant, positive and significant effect on financial inclusion.

The decline in the share of bank credit to non-financial firms since the 1990s, relative to credit for real estate and financial asset markets, has raised concerns over economic growth and financial stability and sparked renewed interest in credit policies, instruments and institutions. We examine their theoretical case and post-war use, and trace their demise during the wider market-oriented policy reconfiguration from the 1980s. Notably, this included home ownership polices favoring mortgage markets. We then examine the empirical relationship between credit policy and credit allocation in 1973-2005 for 17 advanced economies. Taking account of co-integration, we present evidence that the decline of credit policies is significantly associated with a lower share of lending to nonfinancial firms. It may be worth revisiting the potential of credit policies to support adequate financing for goals such as innovation, industrial development and the transition to a low-carbon economy

After the financial crisis of 2008, the use of macro-prudential policies has been increased by central banks in order to stabilize the entire financial system along with goals such as inflation stability and economic growth. Considering that the indicators of banking health in the Iranian economy show the unhealthiness of banks and on the other hand, the use of asset-based tools provides different access for different groups of loan applicants, in this study, an attempt has been made by using the DSGE model including heterogeneous households. And by using the statistical information of the period of 1401-1370, the final effects of precautionary policies on the distribution of income and wealth should be investigated. The results show that the use of these tools, on the one hand, leads to the reduction of inequality through increasing financial stability and economic growth, and on the other hand, due to the increase in the cost of access to credit for low-income households, it increases inequality, so the final result depends on the final outcome of these two effects. .

The undeniable role of banks in aggregating and allocating financial resources is possible and sustainable only when banks have financial
stability, especially when faced with financial crises. One of the important and influential factors in financial stability is financial inclusion. Therefore, this study investigates the effect of financial inclusion on financial stability in Iran and selected Islamic countries for the period 2005-2020. The results of the model estimation with dynamic panel data show that financial inclusion has a positive and significant effect on financial stability. In other words, when the number of ATMs, the number of bank branches, and the number of bank accounts with commercial banks are higher, the tendency and access of people to financial services will increase; Thus, the amount of savings and deposits in banks increases, and this, in turn, enhances the ability of banks to cope with financial crises and has a positive effect on their financial stability. The high ratio of non-performing loans, cost-to-income ratio, and loan-to-deposit ratio also have a significant negative impact on financial stability. Furthermore, the impact of macroeconomic variables on financial stability is positive and
significant. In other words, with rising inflation and GDP, the financial stability of banks increases.

The purpose of this article is to investigate the effects of macroeconomic variables such as exchange rate, interest rate, economic growth and real money residual growth on the financial stability in the Iranian insurance industry. For this purpose, Markov switching method is used. The ability to account for changes in the relationship between macroeconomic variables and the financial stability of the insurance industry over time is one of the most important features of the Markov switching method. The period under study is from the first quarter of 2005 to the fourth quarter of 2015. The results show that the effects of macroeconomic variables during the first regime (including the first quarter of 2005 to the third quarter of 2008) and the second regime (including the fourth quarter of 2008 to the fourth quarter of 2015) on financial stability of the insurance industry are different. So that the effects of exchange rate, interest rate and economic growth on the financial stability of the insurance industry in the first regime are the opposite of those of the second regime. This is while the growth of the real balance of money has a direct link to the financial stability of the insurance industry in each round of the regime, but in the second regime, which is a recessionary regime, its effect on financial stability is insignificant. Also, the findings show that the stability of the first regime is more than the second regime, so that if the insurance industry is in regime one in the previous period, with a probability of 94% it will be again in regime one.

The existence of a structural budget deficit in Iranian economy and the lack of fiscal discipline have raised concerns about the financial stability of governments among economists. In recent decades, fiscal rules have been considered as a way to establish fiscal discipline and financial sustainability of governments around the world. In this regard, the present study seeks to design a fiscal framework based on the three rules of debt ceiling, budget balance and expenditure for Iranian economy. The results of applying the stochastic simulation method show a high level of current public debt compared to the debt rule ceiling estimated by the model and the budget balance rule will be greatly effective in improving the future path of public debt. In other words, applying the budget balance rule reduces the fluctuations of the future path of public debt. It is also suggested to establish an institutional mechanism as a complementary institution with the aim of improving the performance and effectiveness of fiscal rules, especially for expenditures rule and ensuring their implementation

In the present study, the relationship between financial stability, quality of governance and financial inclusion has been investigated in developing countries with upper middle income in the period from 2004 to 2020. The multidimensional indexing method and two-stage GMM have been utilized to achieve this goal. Also, the mediating role of the financial inclusion in the relationship between the governance quality and financial stability has been examined by two methods of estimation and Sobel statistics. The results showed that the financial inclusion and governance quality had a positive and significant effect on the financial stability. The mediating role of the financial inclusion in the relationship between the governance quality and financial stability has been confirmed by Sobel test statistics. Based on these results, it is suggested that the rules and regulations should be reviewed by regulatory institutions in order to increase the financial activities which improve the financial inclusion and maintain the improved financial stability in the long run to reduce the negative effects of multiple regulations on financial inclusion..

The purpose of this study is to investigate the effectiveness of indirect monetary policy instruments such as legal reserve and open market operations (repurchase agreement) on financial and economic stability of Iran under two different scenarios. For this purpose, a stochastic dynamic general equilibrium model have been designed in view of the realities of the Iranian economy. After determining the input values ​​ofthe model and estimating the parameters by using quarterly data of Iran's economy during the period of 1991-2020 by the Bayesian estimation method, the results of model variables simulation indicate the validity of the model in describing the fluctuations of the Iran's economy. Examining the dynamics of the model shows that both of the decreasing the ratio of legal deposits momentum and the repurchase of bonds reduce inflation, but the output boom through the multiplier channel is relatively higher than the monetary base. In addition, the final result of reducing the legal reserve ratio over the most real and financial sector variables is longer and larger than the repurchase agreement policy. This makes it even more important to pay more attention to how the legal reserve ratio is determined in the country.

The present study is the mechanism of the effect of exchange rate fluctuations and the global financial crisis on the financial stability of the state banking system of the Iranian economy using Griton and Roper model and using Markov switching regime econometric model, from 1984 to 2019 and affected by exchange rate fluctuations and Examines the global financial crisis. According to the results, the rate of economic exposure to the recession period for the period under study inthe present study is 18 periods versus 16 periods of prosperity. Also, based on the probability transfer functions related to the estimation model, if the Iranian economy is in a recession, it is likely to remain in the same position 0.85 and 0.13, it is likely that the Iranian economy will return to the boom situation under other factors. The country's economy will be in a state of prosperity, despite oil price fluctuations and financial crises, it is likely to remain at 0.13 and 0.86 is likely to be in a recession under other factors. Because expectations play a very important role in investment decisions, any political, economic instability, shocks, fluctuations, and currency jumps can have a negative effect on banking stability, increasing long-term investment risk, and distorting price information. And even causes capital flight. In such circumstances, the composition of the investment changes in favor of speculative activities that is instantaneous and productive to the detriment of the investment

The occurrence of financial crises in recent years around the world has raised many concerns about the stability of the financial system in the economies of developing countries. Stabilizing financial stability is the main goal of the Central Bank of countries. Financial stability refers to a situation in which the financial system is functioning properly and companies and individuals are confident that it is functioning properly. Factors determining financial stability can be divided into two groups: the first group, internal factors related to bank management and the second group, which are macroeconomic variables. In this study, using global experiences and panel data of 25 selected developing countries during the years 2001 to 2019 and using the principal component analysis method (PCA), the combined index of financial stability has been calculated. Then, using the generalized torque model (GMM), the effect of financial and commercial liberalization on the combined index of financial stability has been investigated. The results show the negative effect of financial and trade liberalization on the combined index of financial stability. In other words, the interaction of countries' financial markets with each other, causes liquidity shifts and fluctuations in their financial markets. In this regard, using the Financial Stability Index to measure the effectiveness of governments in reducing the impact of financial crises can be useful.

The present study was conducted to examine the effect of banking stability on banking system efficiency in Iran's economy by using the Markov switching econometric model during 1984 - 2019. Results indicated a decline in foreign exchange earnings resulting from negative oil shocks to Iran's economy, which led to lower banking system efficiency of the Iranian economy due to exchange rate volatility and higher credit risk. Finally, some issues have led to the revenue instability of Iranian banks. The issues are as follows: high risk of banking activity (credit risk) and its impact on other financial and monetary sectors, high cost and complexity of the lending process, high cost of loans and low funding sources, bad debts, and failure to achieve goals of facilities, disrupted monetary and banking systems, low banking system efficiency, lack of optimal allocation of financial sources to essential sectors, violation of depositors' rights, mistrust of economic agents in monetary and banking system, no trust in future, violation of banks' rights by influential persons, and prevention of financial resources entering to production sector of the economy. Instability problems will be solved if the issues mentioned above are solved.

Interest rate defense is defined as a defense policy in the face of currency shocks and in order to prevent the outflow of deposits from the banking system, and to prevent financial instability and banking crisis. With the expansion of economic sanctions in the late 2010s, the exchange rate rose sharply, and as a result, the monetary authority increased bank interest rates to prevent the phenomenon of bank run. In this study, the effect of interest rate protection on the financial stability of private and public banks and the total banking system is analyzed. Variables affecting financial stability are divided into two groups of internal and external banks variables. The model is estimated based on the three-stage least squares method based on data from 2001-2019. The results of the study show that although the increase in banks rates in the occurrence of currency shocks has positively affected the financial stability of all banks and private banks but had no effect on state-owned banks. However, this policy is one of the reasons for the increase in non-current receivables in the banking system due to the effect of currency shocks on external bank variables such as inflation and increasing financing costs in economy.

The purpose of this article is to review and evaluate the financial stability in the Iranian economy for the period 2009-09-1991 under Monetary Policy and Macroprudential Policy. For this purpose, an attempt was made to address this issue at both micro and macro levels. At the micro level, using the Generalized method of moments (GMM), the effects of monetary and macroeconomic policies in four different modes on the risk-taking of the country's banking network were evaluated. At the macro level, a structural vector autoregression (SVAR) model was used to investigate the effects of these two policies on housing prices and stock prices. The results confirm that, firstly; To regulate banks' risk-taking, monetary and macro-prudential policies contrary to the periodicity of business cycles should be used. Thus, the relationship between the rate of legal reserves as an indirect monetary instrument at the disposal of the country's monetary authority with the level of risk-taking of banks was positively and statistically significant. In this sense, with the increase of the legal reserve rate (apply a tight monetary policy), the interest rate will increase and this will increase the riskiness of banks. Also, increasing the deposit rate as a macro-prudential policy tool has been associated with reducing the riskiness of banks. Secondly; tight monetary policy has the potential to deter rising housing and stock prices, although the extent of this impact is not significant compared to other factors affecting the prices of both housing and equity assets.

This study analyzes banking stability in Islamic banking and conventional banking empirically and answers the question of whether countries with higher penetration coefficient in Islamic banking have experienced greater banking stability than other countries? Many Researchs have offered a number of legal and economic reasons for the superiority of Islamic banking over conventional banking, but this claim has never been empirically tested. Therefore, this study has used data from 7 countries with the highest level of Islamic banking level and 8 countries with conventional banking for the years 2008 to 2018, in the form of a regression model of the panel data family, to test the hypothesis of direct relationship between Islamic banking penetration and banking stability. The results obtained from the analysis of research data indicate that the establishment of Islamic banking and increasing the penetration of Islamic banking has a positive and significant effect on banking stability and therefore countries with Islamic banking experience more banking stability than countries with conventional banking.