Investigating the effects of financial restrictions and profit-sharing policy on the value of banks admitted to the Middle East stock exchange, considering the impact of the intensity of research and development costs

This study examines the impact of financial constraints and dividend policy on firm value, taking into account the role of research and development cost intensity in Middle East listed banks. The current research focuses on the importance of research and development as a key factor in creating competitive advantage and value in emerging markets. Using least squares regression analysis for the period ۲۰۱۸-۲۰۲۲, this study shows that research and development costs play a positive and significant role in assessing the value of banks and can reduce the negative impact of financial constraints on dividend policy. The results suggest that increased investment in R&D can act as a value-creating strategy in the face of financial constraints, leading to an increase in the long-term value of banks. The size and age of banks, effective financial management and operational efficiency were also identified as important factors in increasing market value. Therefore, this study emphasizes the importance of continuous investment in research and development and adjusting profitability policies according to the financial conditions of banks. The findings of this study can contribute to a better understanding of management and investment decisions in the Middle East banking sector and provide insights into best investment and financing practices in the region.

کلیدواژه ها:

Research and development costs ، financial constraints ، profit-sharing policy ، Bank value