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The effect of leverage, liquidity and analysts on earnings and capital management in the european banking industry
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Orientador(es)
Resumo(s)
A literatura existente no sector bancário tem estudado a gestão de resultados e de capital e realizado algumas considerações em matérias como a alavancagem e a liquidez, embora alguns resultados sejam contraditórios. Além disso, a maioria dos estudos está focada nos Estados Unidos originando um menor desenvolvimento do conhecimento sobre a indústria bancária europeia. Neste trabalho estudámos os efeitos da alavancagem e da liquidez na gestão de resultados e de capital em bancos europeus durante o período entre 2005 e 2015. O nosso trabalho pretende analisar factores que têm impacto nas contas dos bancos e que poderiam ser utilizados no desenvolvimento do quadro regulamentar. Também investigámos o efeito da cobertura de analistas adicionando valor ao nosso trabalho. Os resultados sugerem que a alavancagem e a liquidez estão positivamente associadas à gestão de resultados e de capital e indica que os gestores têm maior apetência para manipular as provisões para empréstimos concedidos quando o número de analistas que seguem o banco é maior. Ainda analisámos o impacto da crise financeira e concluímos que os tópicos de liquidez têm menor propensão em envolver os gestores de bancos em gestão de resultados e de capital após a crise financeira de 2017. Este estudo contribui para o desenvolvimento do conhecimento do sector bancário europeu permitindo a melhoria do quadro regulamentar.
Existing research on the banking industry have studied earnings and capital management and made some considerations in issues as leverage and liquidity, although some results are contradictory. Moreover, most studies are focused on the US originating a lower development of knowledge about the European banking industry. In this paper we study the effects of leverage and liquidity on earnings and capital management in European banks during the period 2005-2015. Our final work intends to analyze factors which have impact on banking accounts, and which can be used in the improvement of regulatory framework. We also investigate the effect of analyst coverage adding additional value in our work. The results suggest that leverage and liquidity are positively associated with earnings and capital management, and indicate that managers are more likely to manipulate loan loss provisions when the number of analysts covering the bank is higher. We study the impact of the financial crisis, and conclude that liquidity issues are less likely to engage bank managers in earnings and capital management after the financial crisis of 2007. This study contributes to the literature through the development of knowledge about the European banking industry allowing the improvement of the regulatory framework.
Existing research on the banking industry have studied earnings and capital management and made some considerations in issues as leverage and liquidity, although some results are contradictory. Moreover, most studies are focused on the US originating a lower development of knowledge about the European banking industry. In this paper we study the effects of leverage and liquidity on earnings and capital management in European banks during the period 2005-2015. Our final work intends to analyze factors which have impact on banking accounts, and which can be used in the improvement of regulatory framework. We also investigate the effect of analyst coverage adding additional value in our work. The results suggest that leverage and liquidity are positively associated with earnings and capital management, and indicate that managers are more likely to manipulate loan loss provisions when the number of analysts covering the bank is higher. We study the impact of the financial crisis, and conclude that liquidity issues are less likely to engage bank managers in earnings and capital management after the financial crisis of 2007. This study contributes to the literature through the development of knowledge about the European banking industry allowing the improvement of the regulatory framework.
Descrição
Mestrado em Finanças
Palavras-chave
Gestão de resultados Gestão de capital Analistas Alavancagem Liquidez Provisões para empréstimos Earnings management Capital management Analysts Leverage Liquidity Loan loss provisions
Contexto Educativo
Citação
Pedro, Paulo Jorge Pereira (2017). "The effect of leverage, liquidity and analysts on earnings and capital management in the european banking industry". Dissertação de Mestrado, Universidade de Lisboa. Instituto Superior de Economia e Gestão.
Editora
Instituto Superior de Economia e Gestão