{"title":"财务杠杆对盈利能力的影响:加纳资本重组银行的实证分析","authors":"","doi":"10.46281/ijafr.v7i1.1227","DOIUrl":null,"url":null,"abstract":"In this study, we examine the impact of financial leverage on profitability of recapitalized banks in Ghana over the period 2008-2017. Based on the random effects and fixed effects estimation strategies, our findings reveal that leverage exerts a significant negative effect on banks’ profits regardless of the proxy of profitability. This provides empirical support for the pecking order theory. The results also establish that bank size positively and significantly enhances profitability. In light of our findings, we conclude that financial leverage is detrimental to banks' profit growth in Ghana.","PeriodicalId":358779,"journal":{"name":"International Journal of Accounting & Finance Review","volume":"11 1","pages":"0"},"PeriodicalIF":0.0000,"publicationDate":"2021-07-20","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":"9","resultStr":"{\"title\":\"THE EFFECT OF FINANCIAL LEVERAGE ON PROFITABILITY: AN EMPIRICAL ANALYSIS OF RECAPITALIZED BANKS IN GHANA\",\"authors\":\"\",\"doi\":\"10.46281/ijafr.v7i1.1227\",\"DOIUrl\":null,\"url\":null,\"abstract\":\"In this study, we examine the impact of financial leverage on profitability of recapitalized banks in Ghana over the period 2008-2017. Based on the random effects and fixed effects estimation strategies, our findings reveal that leverage exerts a significant negative effect on banks’ profits regardless of the proxy of profitability. This provides empirical support for the pecking order theory. The results also establish that bank size positively and significantly enhances profitability. In light of our findings, we conclude that financial leverage is detrimental to banks' profit growth in Ghana.\",\"PeriodicalId\":358779,\"journal\":{\"name\":\"International Journal of Accounting & Finance Review\",\"volume\":\"11 1\",\"pages\":\"0\"},\"PeriodicalIF\":0.0000,\"publicationDate\":\"2021-07-20\",\"publicationTypes\":\"Journal Article\",\"fieldsOfStudy\":null,\"isOpenAccess\":false,\"openAccessPdf\":\"\",\"citationCount\":\"9\",\"resultStr\":null,\"platform\":\"Semanticscholar\",\"paperid\":null,\"PeriodicalName\":\"International Journal of Accounting & Finance Review\",\"FirstCategoryId\":\"1085\",\"ListUrlMain\":\"https://doi.org/10.46281/ijafr.v7i1.1227\",\"RegionNum\":0,\"RegionCategory\":null,\"ArticlePicture\":[],\"TitleCN\":null,\"AbstractTextCN\":null,\"PMCID\":null,\"EPubDate\":\"\",\"PubModel\":\"\",\"JCR\":\"\",\"JCRName\":\"\",\"Score\":null,\"Total\":0}","platform":"Semanticscholar","paperid":null,"PeriodicalName":"International Journal of Accounting & Finance Review","FirstCategoryId":"1085","ListUrlMain":"https://doi.org/10.46281/ijafr.v7i1.1227","RegionNum":0,"RegionCategory":null,"ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":null,"EPubDate":"","PubModel":"","JCR":"","JCRName":"","Score":null,"Total":0}
THE EFFECT OF FINANCIAL LEVERAGE ON PROFITABILITY: AN EMPIRICAL ANALYSIS OF RECAPITALIZED BANKS IN GHANA
In this study, we examine the impact of financial leverage on profitability of recapitalized banks in Ghana over the period 2008-2017. Based on the random effects and fixed effects estimation strategies, our findings reveal that leverage exerts a significant negative effect on banks’ profits regardless of the proxy of profitability. This provides empirical support for the pecking order theory. The results also establish that bank size positively and significantly enhances profitability. In light of our findings, we conclude that financial leverage is detrimental to banks' profit growth in Ghana.
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