June 1, 2018 Thesis Open Access

Seyoum Tesfaye

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    <subfield code="a">A Thesis submitted to the department of accounting and finance in partial fulfillment for requirement of Degree of Masters Science in Accounting and Finance</subfield>
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    <subfield code="a">&lt;p&gt;The main objective of this study is to examine the effect of leverage on Ethiopian private&lt;br&gt;
commercial banks&amp;rsquo; profitability. For this purpose, from private commercial Banks engaged in&lt;br&gt;
commercial banking activates ten private commercial banks was studied. The study covered nine&lt;br&gt;
years&amp;rsquo; period (2008/09-2016/17). The dependent variable was the return on equity (ROE) used to&lt;br&gt;
measure the profitability. And the independent variables were the degree of operating leverage&lt;br&gt;
and degree of financial leverage to measure the leverage of the institutions. To ensure the&lt;br&gt;
accuracy of the result of the regression model used two control variables these were operational&lt;br&gt;
efficiency and bank size. In order to address the main objectives of this study balanced panel data&lt;br&gt;
was used. The panel data were obtained from the audited financial statements of ten private&lt;br&gt;
commercial banks&amp;rsquo; and National Bank of Ethiopia. The data were analyzed by using panel data&lt;br&gt;
analysis techniques by using Eviews 8. The descriptive statistics and diagnostic tests were&lt;br&gt;
discussed, followed by, regression analysis. Then, regression result indicates that, the degree of&lt;br&gt;
operating leverage had positive and statistically insignificant impact, the degree of financial&lt;br&gt;
leverage had negative and statistically significant impact on profitability of private commercial&lt;br&gt;
banks. Moreover, operational efficiency also had negative and statistically strongly significant&lt;br&gt;
relationship with profitability. Finally, bank size had statistically significant impact on&lt;br&gt;
profitability. Therefore, private commercial banks could be increased income to improve&lt;br&gt;
profitability since they are operating above breakeven point. They should also give due&lt;br&gt;
consideration to manage their debt properly, increase loan and raise equity financing optimize&lt;br&gt;
profitability.&lt;/p&gt;</subfield>
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