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:: year 11, Issue 37 (11-2018) ::
JMBR 2018, 11(37): 383-412 Back to browse issues page
Impact of Internal and Macroeconomic Factors on Liquidity of Banks listed in Tehran Stock Exchange and OTC
Maryam Davallou1, Vida Varahrami1, Mahdy Sheydaeeian *2
1- Shahid Behshti University
2-
Abstract:   (2857 Views)
 ​Before the financial crisis of 2007-2009, the issue of liquidity was mainly considered as the second risk of the banking industry. After the crisis, economists' attention was drawn to the effects of liquidity and became a major concern for banks. The financial crisis showed that liquidity risk is subject to a series of internal and external factors that their recognition has a significant role in controlling this risk. Therefore, the purpose of this study is to investigate the impacts of internal financial factors and macroeconomic factors on the liquidity of banks. For this purpose, a sample of 16 banks accepted in the Tehran Stock Exchange (TSE) and Farabourse Exchange Market (Over-The-Counter Market (OTC) in Iran) is considered during the years 1389-1394. In this order, the panel data regression method is used. The results indicate that the considered factors (internal and macroeconomic factors) are effective on banks' liquidity. Accordingly, the capital adequacy ratios as an internal financial factor and inflation as a macroeconomic factor are effective on the liquidity of the listed banks in the capital market. However,  financial costs, bank size, and capital adequacy ratios are effective factors on the liquidity of listed bank in TSE. Therefore, effective internal and macroeconomic factors on banks liquidity are different across banks listed in TSE and listed OTC. 
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Type of Study: Empirical Study | Subject: Financial Institutions and Services (G2)
Received: 2017/11/1 | Accepted: 2018/11/28 | Published: 2019/01/13
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year 11, Issue 37 (11-2018) Back to browse issues page
فصلنامه پژوهش‌های پولی-بانکی Journal of Monetary & Banking Research
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