Роль рыночной концентрации и разнообразия в исследовании взаимосвязи между финансовым рычагом и производительностью компании

Цель исследования — определить связь между финансовым рычагом и финансовыми показателями компаний в страховой отрасли Иордании с учетом влияния концентрации рынка и разнообразия продуктов. Проанализированы данные 20 иорданских страховых компаний за 15 лет (2005-2019 гг.). Выявлена положительная связь между финансовым рычагом и прибыльностью страховой компании, при этом диверсификация продуктов усиливает эту связь. Изначально рыночная концентрация оказывала негативное влияние на рентабельность капитала, но диверсификация продуктов превратила это влияние в положительное. Кроме того, в исследовании подчеркивается положительная опосредующая роль рыночной концентрации во взаимосвязи финансового рычага и финансовых показателей. Эти выводы имеют практическое значение для страховщиков, подчеркивая необходимость диверсификации продуктового портфеля и эффективных стратегий использования финансового рычага в условиях конкурентного рынка. Данное исследование вносит вклад в понимание динамики структуры капитала на развивающихся рынках, в частности, в страховом секторе Иордании, предоставляя эмпирические доказательства опосредованного и умеренного влияния концентрации рынка и разнообразия продуктов.

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