The objective of this article is to study the effective factors in maximizing stockholders’ wealth. According to
the findings of this survey, bank managers and decision-makers are recommended to increase their ROE
diversification of their services to attract new investors and increase their ROE. In this way, banks' capitals are
increased, and it will be possible to offer better and more services again. It can be said that there is a mutual
relationship between diversifying services and maximizing banks' capitals. As a result, bank managers can use
this issue as an advantage in the competitive market.
Also, we recommend to future researchers to the use of the present model for other financial institutions in the
financial market. Moreover, they can recognize risk instruments of banks in the section related to offering
electronic services as a subject for dynamic discussion with due attention to the increasing development of such
bank services.