摘要：The aim and hypothesis of this article is to
demonstrate that capital increases taking place in the
Spanish banking system for almost half a century (1971–
2017) led to an increase in both the solvency and the
profitability of the system, taking into account the changing
situation in the Spanish banking environment in this period.
However, it was difficult to homogenise the 1968–70 data
with the period studied. Therefore, in addition to analysing
ten traditional ratios, a structural equation model (SEM) in
path analysis modality was used to validate the results of the
effects of the evolution in equity. SEM is widely used in the
economic and social sciences to estimate regression models
(usually multi-equational) and establish relations between
different financial variables and ratios. The estimated model
shows a significant global acceptability based on the usual
statistical tests and goodness-of-fit measures. The model
supports the research hypothesis and the conclusions. The
fundamental changes in the Spanish banking system over
the last five decades, including the virtual disappearance of
the savings bank subsector, has increased the overall
solvency of the remaining firms and consolidated their
profitability during the crisis years.
关键词：Spanish banks; consolidated financial statements; ratios;
equity; net profit; SEM;
