Resumo

GUAMAN, Andrea Guallpa  e  URBINA-POVEDA, Myriam Alexandra. Determinants of the financial performance of the savings and credit cooperatives of Ecuador. Revista Economía y Política [online]. 2021, n.34, pp.112-129.  Epub 05-2021. ISSN 2477-9075.

This study aims to analyze how the internal, macroeconomic, and governance factors affect the financial performance of Ecuadorian savings and credit cooperatives of segments 1, 2, and 3 during the period 2010 to 2020, using panel data with fixed effects. The estimation results of the specific variables show that high profitability is associated with a higher capital ratio, size, and diversification, but efficiency, credit, and liquidity risk have a negative effect. On the other hand, evidence shows that the impact of GDP growth, inflation, and unemployment is negative. Finally, the findings reveal a positive relationship between governmental effectiveness and regulatory quality considering the government indicators. At the same time, there is an inverse relationship with the variables of voice and accountability, the rule of law, control of corruption, and political stability.

Palavras-chave : Savings and credit cooperatives; panel data; financial performance; return on assets (ROA); return on equity (ROE)..

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