<?xml version="1.0" encoding="ISO-8859-1"?><article xmlns:mml="http://www.w3.org/1998/Math/MathML" xmlns:xlink="http://www.w3.org/1999/xlink" xmlns:xsi="http://www.w3.org/2001/XMLSchema-instance">
<front>
<journal-meta>
<journal-id>2477-9075</journal-id>
<journal-title><![CDATA[Revista Economía y Política]]></journal-title>
<abbrev-journal-title><![CDATA[Revista Economía y Política]]></abbrev-journal-title>
<issn>2477-9075</issn>
<publisher>
<publisher-name><![CDATA[Universidad de Cuenca]]></publisher-name>
</publisher>
</journal-meta>
<article-meta>
<article-id>S2477-90752021000100112</article-id>
<title-group>
<article-title xml:lang="es"><![CDATA[Determinantes del desempeño financiero de las cooperativas de ahorro y crédito del Ecuador]]></article-title>
<article-title xml:lang="en"><![CDATA[Determinants of the financial performance of the savings and credit cooperatives of Ecuador]]></article-title>
</title-group>
<contrib-group>
<contrib contrib-type="author">
<name>
<surname><![CDATA[Guamán]]></surname>
<given-names><![CDATA[Andrea Guallpa]]></given-names>
</name>
<xref ref-type="aff" rid="Aff"/>
</contrib>
<contrib contrib-type="author">
<name>
<surname><![CDATA[Urbina-Poveda]]></surname>
<given-names><![CDATA[Myriam Alexandra]]></given-names>
</name>
<xref ref-type="aff" rid="Aff"/>
</contrib>
</contrib-group>
<aff id="Af1">
<institution><![CDATA[,Universidad Católica de Cuenca  ]]></institution>
<addr-line><![CDATA[ ]]></addr-line>
<country>Ecuador</country>
</aff>
<aff id="Af2">
<institution><![CDATA[,Universidad de las Fuerzas Armadas ESPE Sede Latacunga  ]]></institution>
<addr-line><![CDATA[ ]]></addr-line>
<country>Ecuador.</country>
</aff>
<pub-date pub-type="pub">
<day>00</day>
<month>12</month>
<year>2021</year>
</pub-date>
<pub-date pub-type="epub">
<day>00</day>
<month>12</month>
<year>2021</year>
</pub-date>
<numero>34</numero>
<fpage>112</fpage>
<lpage>129</lpage>
<copyright-statement/>
<copyright-year/>
<self-uri xlink:href="http://scielo.senescyt.gob.ec/scielo.php?script=sci_arttext&amp;pid=S2477-90752021000100112&amp;lng=en&amp;nrm=iso"></self-uri><self-uri xlink:href="http://scielo.senescyt.gob.ec/scielo.php?script=sci_abstract&amp;pid=S2477-90752021000100112&amp;lng=en&amp;nrm=iso"></self-uri><self-uri xlink:href="http://scielo.senescyt.gob.ec/scielo.php?script=sci_pdf&amp;pid=S2477-90752021000100112&amp;lng=en&amp;nrm=iso"></self-uri><abstract abstract-type="short" xml:lang="es"><p><![CDATA[Resumen El objetivo de este estudio es analizar cómo los factores internos, macroeconómicos y de gobernabilidad afectan al desempeño financiero de las cooperativas de ahorro y crédito ecuatorianas de los segmentos 1, 2 y 3 durante el periodo 2010 - 2020, utilizando datos de panel con efectos fijos. Los resultados de las variables específicas muestran que una alta rentabilidad está asociada con un mayor ratio de capital, tamaño y diversificación; mientras que la eficiencia, el riesgo de crédito y liquidez tienen un efecto negativo. Por otra parte, se evidencia que el impacto del crecimiento del PIB, la inflación y el desempleo es negativo. Finalmente, considerando los indicadores gubernamentales, los hallazgos demuestran una relación positiva con las dimensiones efectividad gubernamental y calidad regulatoria; mientras que existe una relación inversa con las variables de voz y rendición de cuentas, estado de derecho, control de la corrupción y estabilidad política.]]></p></abstract>
<abstract abstract-type="short" xml:lang="en"><p><![CDATA[Abstract 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.]]></p></abstract>
<kwd-group>
<kwd lng="es"><![CDATA[Cooperativas de ahorro y crédito]]></kwd>
<kwd lng="es"><![CDATA[datos de panel]]></kwd>
<kwd lng="es"><![CDATA[desempeño financiero]]></kwd>
<kwd lng="es"><![CDATA[retorno sobre activos (ROA)]]></kwd>
<kwd lng="es"><![CDATA[retorno sobre patrimonio (ROE).]]></kwd>
<kwd lng="en"><![CDATA[Savings and credit cooperatives]]></kwd>
<kwd lng="en"><![CDATA[panel data]]></kwd>
<kwd lng="en"><![CDATA[financial performance]]></kwd>
<kwd lng="en"><![CDATA[return on assets (ROA)]]></kwd>
<kwd lng="en"><![CDATA[return on equity (ROE).]]></kwd>
</kwd-group>
</article-meta>
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<month>0)</month>
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<nlm-citation citation-type="journal">
<article-title xml:lang=""><![CDATA[Japan and the World Economy Bank performance and its determinants in Korea.]]></article-title>
<person-group person-group-type="author">
<name>
<surname><![CDATA[Yeon]]></surname>
<given-names><![CDATA[J.]]></given-names>
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<name>
<surname><![CDATA[Kim]]></surname>
<given-names><![CDATA[D.]]></given-names>
</name>
</person-group>
<source><![CDATA[Japan &amp; The World Economy]]></source>
<year>(201</year>
<month>3)</month>
<numero>27</numero>
<issue>27</issue>
<page-range>83-94.</page-range></nlm-citation>
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</article>
