Financial and Banking Strategic Studies

Abstract Purpose: The primary objective of this paper is to represent an econometric model based on market power and bank financing methods, analyzing and estimating the impact of these two variables while considering monetary policy as a moderating factor. In this process, achieving secondary objectives such as calculating the market power index, assessing the financing methods of selected banks, and determining an appropriate indicator for monetary policy is essential. Methodology: This study follows an independent paradigm introduction approach. A group of publicly traded banks was selected, and using annual financial statement data, the translog production function was estimated, followed by the calculation of the Lerner index for each bank. The monetary conditions index in this research was derived using a time-series regression model. The bank liquidity creation model was formulated based on the market power index, bank financing methods, and the monetary conditions index. The effect of each of these variables on liquidity creation was then measured. Findings: The results indicate no significant relationship between bank liquidity creation and non-deposit financing methods. However, a strong negative correlation exists between market power and liquidity creation, highlighting the need for banks to enhance market power and diversify revenue sources. Originality/Value: This is the first study in Iran that simultaneously examines the impact of financing methods, market power, and monetary policy on bank liquidity creation.

Abstract Purpose: With the increasing competition among banks in Iran, enhancing the quality of E-banking services has become a strategic necessity. This study aims to design and evaluate a customer satisfaction model for e-service quality in Sepah Mobile Banking. Methodology: This study adopts a mixed-methods approach, comprising qualitative and quantitative phases. In the qualitative phase, semi-structured interviews were conducted with 10 experts in Sepah Bank's E-banking sector, and thematic analysis was applied to identify key dimensions of e-service quality, which served as the basis for the proposed model. In the quantitative phase, survey data were collected from 387 Sepah Bank customers, and the model was validated using Partial Least Squares Structural Equation Modeling (PLS-SEM) to assess both measurement and structural components. Findings: The results indicate that five key dimensions, responsiveness and support, functionality, reliability, design, and ease of use, significantly influence customer satisfaction and contribute to customer loyalty in Sepah Mobile Banking. Originality/Value: Unlike previous studies that primarily relied on generic service quality models, this research develops a tailored theoretical model for customer satisfaction with Sepah mobile banking's E-services. Besides, the findings provide valuable insights for Sepah Bank managers to enhance E-service quality and achieve a sustained competitive advantage.

Abstract Purpose: This study aims to investigate the effect of CEO characteristics on corporate financial performance.
Methodology: This study examined companies listed on the Tehran Stock Exchange (TSE) from 2013 to 2023. Panel data was used to estimate and test the models. Three indicators (CEO ownership, CEO duality, and CEO tenure) were used for CEO characteristics, and the Return on Equity (ROE) index was used to evaluate corporate financial performance.
Findings: The study's results showed a positive and significant relationship between CEO ownership, CEO tenure, and corporate financial performance ROE. Also, CEO duality is not significantly related to corporate financial performance or ROE.
Originality/Value: This study is among the few that examine the impact of individual CEO characteristics (ownership, tenure, and duality) on the financial performance of companies in an emerging market such as Iran. Given the institutional, economic, and governance differences between Iran and other countries, the findings of this study contribute to the international literature on corporate governance. This finding is also important for corporate policymakers and shareholders when selecting and evaluating senior managers.

Abstract Purpose: Nowadays, in the banking industry, with the emergence of digital platforms and dynamic changes, competitive conditions have become widespread. Banks, as one of the most important pillars of the financial industry, are exposed to these ecosystem changes and, if neglected, may see their role weakened or eliminated in the digital ecosystem. Therefore, the present study aims to identify and rank the factors affecting the digital banking ecosystem. Methodology: The present research is applied in its objective and descriptive survey in its data collection. Using the Best-Worst Multi-Criteria Decision-Making (BWM) method, the factors affecting the digital banking ecosystem were identified and ranked. To identify the factors, a library-based method was utilized. Additionally, a field study was conducted to distribute questionnaires to professionals in Lorestan Province's banking industry to validate and prioritize these indicators. The Excel software was also used for data analysis. Findings: The results indicate that the digital banking ecosystem consists of four main criteria (key and core activities of digital banking, enablers in digital banking, digital banking infrastructure, and digital banking tools, services, and products) and 16 sub-criteria. Among these, the digital banking infrastructure was identified as the most important factor, while digital banking tools, services, and products were recognized as the least important. Originality/Value: This framework enables banks to optimally allocate resources and focus on key priorities to improve infrastructure, develop digital services and products, and enhance collaboration and participation within this ecosystem.

Abstract Purpose: Considering the position and role of audit firms in users' decisions, the quality of audit firms' work is considered a key factor in preparing audit reports. Several factors significantly improve audit quality; on the other hand, several factors also reduce the quality of investigations. Behaviors that reduce audit quality are intentional actions that endanger the auditor's role by reducing the supporting documentation in reviews. To be accredited and express an opinion, auditors must formulate and implement their audit plans in accordance with auditing standards, which serve as the criteria for assessing the quality of auditors' work. Among the factors expected to affect behaviors that threaten audit quality are membership in multiple teams, resilience, and auditor learning. Therefore, this study aims to investigate the effects of membership in various teams on behaviors that threaten audit quality, while considering the roles of auditor resilience and learning. Methodology: Five hypotheses have been formulated to address the study's purpose. This study is descriptive-correlational in nature and is considered applied research. The statistical population consisted of auditors of the Auditing Professional Organization in Iran, of whom 280 were selected as the research sample using the Cochran formula. Structural equation tests in PLS software were used to test the hypotheses of this study. Findings: Testing the study's first hypothesis showed that membership in multiple teams significantly affects auditory learning. The results of testing the second hypothesis showed that auditor resilience moderates the impact of membership in various teams on auditory learning. The results of testing the third hypothesis showed that auditor learning significantly affects behaviors that threaten audit quality. Also, the results of the fourth hypothesis test showed that membership in multiple teams significantly affects behaviors that threaten audit quality. The results of the fifth hypothesis test showed that auditor learning mediates the effect of team membership on behaviors that threaten audit quality. Originality/Value: Unlike previous studies that often focused on the effects of workload or job pressure on audit quality, this study specifically examines the role of membership in multiple teams and links it to two key variables: resilience and learning. This theoretical and empirical innovation distinguishes the present study from other studies and can provide practical solutions to improve auditor performance.

Abstract Purpose: This study analyzes the Decentralized Finance (DeFi) ecosystem and the impact of blockchain technologies on it. The primary objective is to identify key trends and emerging research areas, and to provide strategic insights into the future of this nascent industry. The need for this research arises from the fact that DeFi, as one of the most significant economic and technological transformations, is still in its early stages of development and requires thorough scientific examination to guide future research directions. Methodology: This study employs a scientometric approach. Research data were extracted from leading academic databases, comprising 601 articles on the DeFi ecosystem spanning 1990 to 2024. Data analysis was conducted based on indicators such as sources, authors, countries, institutions, articles, and keywords. Additionally, quantitative analysis methods were used to examine publication trends and identify research gaps. Findings: The study reveals significant recent growth in the DeFi ecosystem, with diverse research areas emerging. Most related articles have been published in recent years, and leading countries, institutions, and researchers have been identified. Key topics include blockchain technology and smart contracts, highlighting the field's importance in academia and revealing its strengths and gaps in existing research. Originality/Value: This study provides a comprehensive analysis of the DeFi ecosystem and outlines future research directions, offering valuable insights for researchers and policymakers. By identifying research gaps and offering specific recommendations, it contributes to advancing and enriching existing knowledge in this emerging field.