خلاصة:
Objective: The economic value added of banks is a new approach to assessing the performance of banks that, while not having accounting problems in profit and loss statements, can predict the financial health of banks. Unlike developed countries, the most important measure of financial performance in Iranian banks is net profit, but modern financial theory seeks to maximize value rather than maximize profit. The lack of a culture of using value-based financial performance metrics has neglected important and irrefutable concepts such as capital expenditures and opportunity costs. In addition, this criterion is influenced by various factors that can have a positive or negative effect on it. Therefore, it is important to measure this criterion and examine the effect of various factors on it in the Iranian banking network. Methods: In this paper, the effect of various financial and non-financial factors on the economic value added of banks, during the period 2006-2018, is investigated using panel data approach. Experimental literature has been used to identify the factors affecting banks' economic value added. Results: The results show the distinct behavior of economic value added in different cycle periods. In addition, improving risk management in the banks and improving banks' financial health has a positive effect on the economic value added of the Iranian banks. An examination of the combination of banks' asset and debt portfolio indicates that banks' approach to raising earning assets can help improve banks' economic value added. Conclusion: The financial ratios approach in evaluating the performance of the Iranian banking network, while having accounting problems, cannot adequately express the health status of a bank. Therefore, in addition to applying the financial ratios approach, it is also important to measure the economic value added of banks as a new financial approach to evaluate the performance of banks and to evaluate the most important factors affecting it.
ملخص الجهاز:
Based on the theoretical study of Stewart and Chew (1995) and the empirical study of Teker, Teker, and Sonmez 3 (2011), the Economic Value Added of banks is expressed as follows: (refer to the page image) where NOPAT is Net Operating Profit After Tax and capital cost [WACC × Capital Investment] is the amount of investment multiplied by the weighted average cost of capital (Fogelberg & Griffith 4, 2000).
In this article, the factors affecting the economic value added of banks have been used based on empirical studies in the headings of risks (10 criteria), composition of assets, liabilities, profit and loss (15 criteria), structural indicators (12 criteria), health and stability (16 criteria), corporate governance (8 criteria), and macroeconomics (13 criteria).
In this article, six models have been designed, in all of which the dependent variable is the economic value added of the banks, and the independent variables are divided into six groups: risks (the ratio of non-performing loans to granted facilities (npl), the ratio loan loss reserves to non-performing loans (lpn), the ratio of liquid assets to short-term liabilities (lasl), the ratio of (facilities - deposits) to total assets (lda)), the composition of assets, liabilities, profit and loss (cash assets to total assets (laa), investments and participations to total assets (ia), debt to central bank to total debt (lcl), debt to banking network to total debt (lil), total deposits to total debt (tdl), capital to debt (capl), interest income to total income (inti), interest expense to total expense (intcc)), structural indicators of banking stability (zscore), bank size (asset), cost to income ratio (costin), Basel capital adequacy standards (ca), the ratio of doubtful debt reserves to total facilities (lll), return on assets (roa), return on equity (roe), foreign exchange transaction result to shareholders' equity (exch) , corporate governance (board of directors structure (BS), ownership structure (OS) and macroeconomic variables (stock price (sp), business cycles (bc) have been categorized.
(
, 
, 
)
