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Financial and Macroeconomic Drivers of Bank Profitability: Evidence From Greek Systemic Banks During 2009-2019

Financial and Macroeconomic Drivers of Bank Profitability: Evidence From Greek Systemic Banks During 2009-2019
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Author(s): Panagiotis Barkas (Hellenic Observatory, London School of Economics, UK, & European Securities and Markets Authority (ESMA), France & Hellenic Foundation for European and Foreign Policy (ELIAMEP), Greece), Theodoros Kounadeas (National and Kapodistrian University of Athens, Greece & Hellenic Observatory, London School of Economics, UK) and Nikolaos Dimitrios Spatharakis (Hellenic Open University, Greece)
Copyright: 2022
Volume: 9
Issue: 1
Pages: 22
Source title: International Journal of Corporate Finance and Accounting (IJCFA)
Editor(s)-in-Chief: Apostolos G. Christopoulos (Department of Business Administration, University of the Aegean, Greece), Constantin Zopounidis (School of Production Engineering and Management, Technical University of Crete, Greece & Audencia Business School, France) and Kyriaki Kosmidou (Aristotle University of Thessaloniki, Greece)
DOI: 10.4018/IJCFA.312568

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Abstract

This paper aims at investigating the factors that affected the profitability of Greek systemic banks during the period 2009-2019. The authors initially review the findings of relevant international literature. Then, details of the methodology followed are provided and the variables that constitute the model are explained. Based on those, they investigate econometrically the factors that influenced banks' return on assets. The econometric analysis establishes that the ability of Greek systemic banks to generate profits through the use of their assets, during the period 2009-2019, was shaped under the influence of the debt crisis, which turned into a financial crisis, as well as specific financial and macroeconomic factors.

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