جستجوی مقالات مرتبط با کلیدواژه « Financial Stability » در نشریات گروه « مالی »

The present study deals with redesigning the design of the financial stability model in order to respond to the return of Islamic banking to the shock of the value of the national currency for the years 1400-1373. For this purpose, using the structural vector autoregression model (SVAR), which are known as impulse models; The response of Islamic banking returns to the shocks of national currency value, financial stability, inflation and inflation were investigated. According to the results, the response coefficient of the yield impulses of cooperative banking contracts to oil revenues, weakening of the value of the national currency and inflation is negative and equal to 0.01, 0.25 and 0.06. Also, the response of financial development momentum coefficient to the yield of cooperative banking contracts is positive and equal to 0.32. The increase in oil and foreign exchange revenues of the central bank causes an increase in the monetary base of the country, and the volume of liquidity also increases, and therefore inflation will also increase. The expectation of inflation in the future period and uncertainty about the inflation rate are also effective in fueling the intensity of inflation, and as uncertainty increases, the amount of investment in the production sector decreases and the production situation and the yield of contracts also worsen. On the other hand, the artificial pricing of the exchange rate in the years before thein order to reduce the pressure of the foreign exchange market, it is suggested that the annual off

AbstractThe main purpose of this study is to estimate the model of factors affecting financial stability in companies listed on the Tehran Stock Exchange. The research method in terms of design was descriptive-analytical based on past events, field experiments, retrospective or causal after occurrence. A review of the literature, research, and interview results reveals five main themes that categorize the factors affecting financial stability in companies. In the following, the effect of these components on financial stability in companies is evaluated. For this purpose, the performance information of 130 companies that have been screened by the method of screening in the period 2015-2019. The results showed that, return on investment and profit to price ratio per share (from performance indicators), working capital (from resource management indicators), financial cost coverage (from financial structure indicators), instantaneous ratio (from indicators Liquidity indices) and institutional ownership (characteristics of the company) have a positive effect on the financial stability of companies. Also, receivables period (from resource management indicators), long-term debt ratio (from financial structure indicators), debt repayment period (from liquidity indicators) have had a negative impact on financial stability.key words: Financial stability, financial indicators, model estimation.

The main purpose of this study is to investigate the impact of economic and policy uncertainty on the financial stability of the banking sector. In this regard, firstly, using Generalized AutoRegressive Conditional Heteroskedasticity (GARCH), inflation uncertainty as an indicator of economic uncertainty, government tax revenue uncertainty and exchange rate uncertainty as indicators of government policy uncertainty are calculated. Then, the impact of these indicators on the financial stability of the banking sector (calculated using the ZSCORE approach) has been examined. In this study, the monthly data of 19 banks including Melli, Sepah, Post Bank, Maskan, Tejarat, Mellat, Karafarin, Eghtesad Novin, Parsian, Pasargad, Mellal, Sina, Ayandeh, Day, Tourism, Shahr, Iran Zamin, Qarz Al-Hasaneh Resalat and the Middle East has been used in the period 2015 to 2020. The results of this study show a negative and significant relationship between inflation uncertainty and exchange rate uncertainty with the financial stability of the banking sector. However, the coefficient of tax revenues uncertainty is not statistically significant. In addition, the results of the final model indicate a positive relationship between the bank deposit ratio and a negative relationship between the size and ratio of foreign debt with the financial stability of the banking sector.

In this study, we seek to investigate the effect of financial stability and fluctuations in the value of the national currency on the efficiency of Islamic banking in recession and boom regimes. For this purpose, the effect of study variables during the period of 1373 to 1400 is investigated by using the rotation model and Markov switching regime change. The estimation results of the model show that the coefficient of financial development is positive in the prosperity regime. The coefficients of the variables of weakening the value of the national currency in both recession and boom regimes, liquidity and global financial and oil crises have also had a negative impact on the yield of bank contracts in the recession regime. The artificial pricing of the exchange rate in the years before the crisis and preventing its adjustment according to economic conditions is one of the main reasons for the recent fluctuations in the value of the national currency. Thus, as the growth of the exchange rate has increased, the policy makers have tried to control the growth of the exchange rate and prevent its increase by reacting more to it. Meanwhile, the reaction to exchange rate deviations has led to a further weakening of the value of the national currency. As the fluctuations in the value of the national currency increase, the amount of investment in the production sector has decreased and the production situation and the efficiency of the contracts have also worsened.

Financial fragility is one of the terms that has recently been widely used in financial and accounting issues and its improvement has become one of the important issues and challenges in various organizations in the public and private sectors. This mixed (qualitative-quantitative) research has been conducted with the aim of presenting a model for promoting financial fragility with a screening approach in companies listed on the Iranian Stock Exchange. After interviewing 19 experts, 28 components of the model were identified in the qualitative section, but fuzzy Delphi method was used to rely on very important components and screen the identified components. Then, to achieve the model in the quantitative part, based on interpretive structural modeling (ISM) and self-interaction matrix was used to collect the required data. Findings The research presents a four-level model consisting of 9 components, of which the most effective component and the only independent component of the financial fragility improvement model of this research is the amount of economic stability.

After the severe price fluctuations in the capital market in 2019 and the increase in the activity of the stabilization fund in the country's capital market, doubts were raised about the way of interference and conflict of interests in the activity of this fund. In this research, Iran's capital market stabilization fund has been studied in terms of its nature, function, disclosure, and type of sources, applying a comparative approach with market stabilization funds in China, Germany, and Bangladesh. Then, by referring to the opinions and comments of experts and academicians, defects, problems, and deficiencies of the capital market stabilization fund have been identified and the optimal alternative status has been drawn. The findings of this research, which was conducted by a qualitative method and integration of comparative study and in-depth interviews with experts, indicate that the optimal method for capital market stabilization fund investments is the indirect method through financial institutions. On this basis, the proposed research model is presented in the form of a conceptual model with the aim of providing a suitable alternative solution for fund intervention in the capital market.

In recent years, the operation of the country's banks, affected by internal factors and changes in macroeconomic factors, became unstable and irresistible. This led to the inability to establish stability and the emergence of inefficiency of the economic environment in the functioning of the banking network. Following this, bank executives aimed to identify the factors which affected the resilience of banks and tried to eliminate their vulnerabilities in order to provide the maximum possible benefits, as well as solutions for reforming, strengthening, clarifying, and making the banking system a healthy entity. In the same vein, the components affecting the financial stability and strengthening of the banking system were identified in this study through a mixed methods approach. The results showed that the factors affecting the stability and strengthening of the banking system are classified into two general groups: 1. Environmental and external factors, including macroeconomic conditions, the central bank, the government and higher-order authorities, together with socio-cultural infrastructure; 2. Internal and specific banking factors, including financial health and strengthening of income sources, administrative health and corruption control, excellence of organizational resources and making them intelligent, and innovative management of services and products. The findings revealed that financial health and strengthening of income sources (0.2304), macroeconomic conditions and its stability (0.2150), and the central bank, government, and higher-order authorities (0.1558) are more important in the stability and strengthening of the banking system, which requires executives and planners of the banking system to take them into serious consideration.

Financial stability is one of the important topics that has been increasingly paid attention to by policymakers in the last two decades. Controlling and improving financial stability requires its measurement. Based on this, the aim of the current research is to "design a model for measuring financial stability in Iran's financial system". In terms of developmental-applicative goal and in terms of asset methodology, it is a quantitative approach, of survey-Delphi type, which was done in two stages of literature content analysis and Delphi. The indexing approach of this research is the construction of composite indices (CCI), which was done in three stages. In the first stage, using the content analysis technique, the extracted components and indicators have been used to finalize the measurement and weighting model using the Delphi technique. The statistical population of the research includes experts and elites in the field of banking, 14 people were selected as a Delphi expert panel using the purposeful-judgemental sampling method, and a consensus was reached in two Delphi rounds. The findings showed that the financial stability measurement model has five dimensions (institutional quality, banking health, macro economy, capital market and financial fragility), and 21 components. Institutional quality and banking health are the most important dimensions among the dimensions examined.

If the central bank and the relevant bank risk committee do not monitor and control the amount of liquidity created by a bank, it risks bankruptcy and ultimately all the banks in the country. Therefore, this study examines the impact of liquidity creation on the profitability and financial stability of banks. In terms of purpose and method, this research is applied post-event. A multivariate regression model and data panel approach were used to analyze the information of 15 banks listed on the Tehran Stock Exchange over the period 2013-2020. Berger and Bauman's (2009) method was used to calculate the liquidity creation index and the profitability and financial stability of banks were measured by the return on assets ratio (ROA) and Z-Score, respectively, as well as by control variables at the bank level (size, deposits, facilities, and non-interest income) and industry level (concentration index of banks). According to the results, banks are more profitable and stable when liquidity is created.

Economic studies since 2000 have been more inclined to identify factors that affect the stability of banks, such as global financial crises, oil fluctuations, and exchange rate fluctuations. Due to the strong dependence of the country's economy on the banking system, the banking system’s stability is doubly important and it is significant to study the factors that disrupt this stability. This study examined the financial stability of the state banking system of Iran's economy by using the Markov switching regime econometric model and the overshooting Dornbusch Model during the years of 1984-2018. Also, the global financial crisis was taken into account based on the impact of exchange rate jumps. Based on the results, the amounts of width from the origin in the first and second regimes were 0.03 and -4.05 and the variance of the disturbance components related to the first and second regimes were equal to 0.73 and 3.51, respectively. The results showed that with the occurrence of negative oil shocks, foreign exchange earnings of Iran's economy decreased and despite currency price jumps, financial crises, and increasing credit risk, banking stability decreased due to high risk of banking activity (credit risk) and transfer. It is often said that for price stability and even economic stability, instability and liquidity flows should be avoided because if the growth of liquidity is much greater than the growth of production, according to the simple implication of some money theory, this will lead to inflation and price growth. However, it should be noted that the level of liquidity and money creation in the economy and the optimal ratio of liquidity to GDP depend on the structure of each economy, the technological complexities of goods and services, and the number of stages of their construction. Therefore, for each economy, a certain level of liquidity and money creation cannot be justified as a general rule, but the quantity of liquidity and money creation in each economy depends on the structural, technical conditions of the economy and commodities, speculative attacks, and foreign exchange market pressure. Therefore, expansionary monetary policies need to be adjusted in terms of whether or not the exchange rate is stabilized.

Occurrence of financial crisis Occurrence of financial crisis and increase concerns about existing inequalities have led to the introduction of financial stability sub-indicators by international institutions for insurance companies. The occurrence of any financial problems and the subsequent scandal known as financial and economic bankruptcy in insurance companies, not only affects their shareholders, even also affects many members of society, including insurers and other stakeholders. Since insurance industry observers need to achieve an efficient tool to study and identify the internal challenges of the country's insurance industry, and in the meantime, one-dimensional indicators do not have the necessary strength to express the effects of such challenges, the purpose of this article is to calculate the combined financial stability index. For the insurance industry, according to the statistics and information of the period of 1397-1385 insurance companies. The combined index of financial stability has been calculated using 27 sub-indices from the theoretical and experimental literature and the principal components method. The results show that in the long run, the insurance industry is facing a downward trend in financial stability, but in the short run, it is fluctuating. The long-term downward trend of the financial stability index indicates the critical situation of the insurance industry.

One of the ways that economists around the world find appropriate ways to reduce inequality in the economy, financial stability and reduce unemployment is the Central Bank Independence (CBI). The independence of the central bank means that the central bank must be able to formulate and implement monetary and credit policies based on economic goals and interests, without any political pressure. The present study examines the effect of central bank independence on income distribution, financial stability and unemployment in our country. To achieve the above goal, economic information has been used over a period of 40 years (1352 to 1391). The method of data analysis is using ARDL and ARDL, which show that in the short and long term, central bank independence has an effect on income inequality and in the short run, it has an effect on financial stability and It has had a positive and significant effect on unemployment in the short and long term.

Each set of wavelet coefficients contains part of the time series at different time scales. Implementing wavelet transforms by utilizing the best wavelets at the right levels will have a significant impact on financial analysis results. Therefore, the present study seeks to present a proposed model for measuring firm financial sustainability by using an economophysical method using a sample of 86 companies listed in Tehran Stock Exchange during 2015-2019. The results of the research hypothesis show that the prediction of financial sustainability based on the economophysical method can provide better results. According to the findings of the study, it can be stated that the dendrogram observed in the Dabshiz wavelet is more accurate in decoupling and consequently clustering.

The concept of financial sustainability has been in the economic literature for nearly two decades. In the theoretical financial literature, firm financial sustainability can be described as a financial system consisting of financial intermediaries, markets, and market infrastructures that are capable of withstanding risk shocks and resolving financial imbalances. Therefore, according to the above argument, the purpose of the present study is to present a proposed model for measuring the financial sustainability of the company by using Econophysics and artificial neural network using a sample of 132 companies listed in Tehran Stock Exchange during 2015-2019. The results of the first hypothesis show that the prediction of financial sustainability based on the Econophysics method can provide better results. Also, based on the result of the second hypothesis, the Bayesian method can predict better financial sustainability. Finally, by comparing the Econophysics and Bayesian approaches to predicting financial sustainability of the firm, it can be concluded that the prediction of financial sustainability based on the economophysical method yields better results than the Bayesian method.

This study aims at investigating the role of Corporate Governance in the financial stability of banks listed at the Tehran Stock Exchange from 2012 to 2018.  Corporate governance is a good mechanism for controlling risks within firms. Corporate Governance relationships for shareholders in a specialized and independent position with systematic risk in the banking sector is very important. Specifically, corporate governance of shareholders for larger banks which are part of the security networks are at higher risk. They try to pass on the risk to taxpayers.  This is descriptive-analytical, applied research using post-quasi-experimental data collection method in the area of ​​positive financial research, and was performed using multivariable regression and econometric models. The results show that the effect of having two CEO’s on financial stability is negative and significant, the effect of institutional shareholders on financial stability is positive and significant, and the effect of government ownership variable on financial stability variable is negative and significant. Moreover, the effect of the ratio of independent board members and the number of board members on financial stability is positive and significant.

The emergence of financial crises and their long-term consequences on the real sectors of economies has further highlighted the importance of examining financial stability in financial markets. So today, governments are seeking to design tools and indicators to assess the financial market stability situation in financial markets such as the money, capital and currency markets to ensure that there are no signs of a financial crisis. Therefore, the design of appropriate indicators for checking the stability of financial markets is one of the main concerns of financial researchers. Therefore, in this research, it has been attempted to present the appropriate indicators to examine the stability of financial markets in Iran. In this regard, to achieve this goal, six variables from the financial system and four variables from macroeconomics have been collected monthly from 2010 to 2017. Then, to generate financial stability indicators, various econometric techniques such as GARCH model, weighted method with equal variance, weighted average and Vector Vector Autoregression (VAR) were used. Finally, the ability to predict financial sustainability indicators was examined using the ARDL Autoregressive Model. The results of the research showed that financial markets of Iran were unstable in different periods of time.The matching of empirical evidence and the results of the research show that the financial stress index for the stock market and the foreign exchange market reflects well the financial tensions, but in the banking market this index has weak performance and the selected variables do not cover the main components of the market.

The financial fragility of banks has always been one of the main concerns of supervisors and decision makers in the banking system. In recent decades, financial stability as a goal of the economic system has been increasingly taken into account in policy making. Many of researches has focused on the role of government financing in the monetary system. But so far, the impact of government debt on commercial banks has not been investigated on financial frailty. The purpose of this study is to investigate the effect of government debt on commercial banks on the financial fragility index in Iran. For this purpose, data from 1979 to 2018 and ARDL method have been used. Results shows that the research hypothesis that the bank debt had a significant effect on the financial system's fragility was confirmed. The results also show a positive and significant relationship between inflation and financial system fragility. The regression coefficients shows that the development of the financial market and, more precisely, the increase in value of the stock market and the tax share of production, have a negative and significant relation with the financial fragility index.

The performance of Iranian banking network listed in the Tehran Stock Exchange indicates that the accumulated losses have exceeded the risk limits, which may threatens the stability of the banking system. However, Contrary to the conventional belief, the augmentation of exchange rates could not improve the financial position of banking network. Hence, in this paper an attempt is made to investigate the impact of the estimated threshold level of the exchange rate on the financial stability of banking system. The explanatory variables of the model comprising the certain macroeconomic variables such as the rate of inflation, exchange rate, GDP growth rate, as well as the banks’ balance sheet variables including the profit, equity, Non-Performing Loans(NPL) and also the amount of loans extended to the customers. Due to key role assigned to the exchange rate as an anchor in the economy, we may envisage that the indefinite appreciation in the value of exchange rate does not necessarily enhance the financial position of banking system as we were witness in the Iranian economy in the past, but when the exchange rate rose from Rials 12260 in the 1391, the financial stability of banking system experienced the relative stable trend and subsequently with increasing the foreign exchange rate to the threshold level of Rials 45627, this trend continued to some extent. None the less, after reaching the designated threshold level, the financial stability of banks could change the direction showing that any movement of exchange rate beyond the threshold level of Rials 45627 could lead to reduction of banking stability in the Iranian economy. For this purpose, we applied the Generalized Method of Moment Method to estimate the model Viz-a-Viz employing the Dynamic Panel Data of 31 banks for the study period of 1385-1395 in the Iranian calendar.

Risk management is an integrated procedure which helps banks to measure and control their risks. Due to the recent banking crises and nature of banking activities, central banks have made it compulsory for banks to have independent risk committees. Also, financial instability is another factor which can lead banks to distress and bankruptcy. This study investigates the simultaneous relationship between credit risk and liquidity risk and their impacts on financial stability of Iranian banks over the period of 2005-2014 using panel data approach. Results of the simultaneous equation modeling show that in general, liquidity risk and credit risk have significant positive relationship with each other. In other words, every one unit increase in liquidity risk will cause the credit risk to increase by 0.38 unit and every one unit increase in credit risk leads to 0.51 unit increase in liquidity risk. Moreover, we employ the quantile regression to examine the effect of these two types of risk on the different quantiles of financial stability of commercial banks in Iran. Results show that credit risk and liquidity risk negatively affect the financial stability and increase probability of bankruptcy of the Iranian banks. Moreover, we demonstrate that the magnitude of the negative impact is much higher for the banks in the lower quantiles that have lower financial stability comparing with the banks in upper quantiles having higher financial stability.