دراسة أثر مؤشرات الأداء السوقي للمصارف في سيولة الأسواق المالية باستخدام نماذج Panel (دراسة تطبيقية على سوق دمشق للأوراق المالية)

Abstract

The study aimed to analyze the impact of market performance indicators of banks on the liquidity of the Damascus Securities Exchange (DSE). This was achieved by examining the effects of key market performance indicators—market capitalization, market-to-book ratio, price-to-earnings ratio, number of subscribed shares, and traded shares—alongside control variables (bank size and inflation rate) on the trading volume of the DSE. The research relied on a descriptive analytical approach by analyzing market performance indicators and liquidity in the financial market during the period 2012-2023. Among the most important results of the research: There is a statistically significant impact of the market performance indicators of banks operating in Syria on the liquidity of the Damascus Stock Exchange, with an explanatory power of 55%. A model was extracted to demonstrate the impact of bank market performance on the liquidity of financial markets, indicating: There is a statistically significant impact of market capitalization, traded shares, and the inflation rate on trading volume. However, there is no statistically significant impact of market capitalization to book value, market capitalization to earnings, number of subscribed shares, and bank size on trading volume. The strongest variable is the bank's market capitalization, followed by the number of traded shares. The inflation rate, as a controlling variable, significantly impacted trading volume.