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Article: An extended application of Factor Analysis in establishing peer groups among banks in Armenia.
- Article from:
- Journal of Academy of Business and Economics
- Article date:
- January 1, 2003
- Author:
CopyrightCOPYRIGHT 2003 International Academy of Business and Economics. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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ABSTRACT
The introduction of this paper provides an historical backdrop to a modern-day analysis of banks in Armenia. Illustrated then are results from an extended application of Factor Analysis performed on a set of 17 banks and 13 financial variables, which are drawn from Armenia's Arka News Agency data. Factor Analysis procedures determine how banks can be classified based upon their disparate and common characteristics. Plots of outputs depict clusters of banks, which correspond with the statistical classification of banks based upon the 13 financial variables. Banks in any given cluster are deemed members of a 'peer' group which is a useful construct in ...
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