Diversification of revenues in credit unions in Brazil and their influence on financial performance

Purpose: To analyze the effect of revenue diversification on the financial performance of Credit Union in Brazil, from 2014 to 2018. Methodology: The panel data regression model was used and 263 credit unions were evaluated, making a total of 2,630 observations. The data were obtained from the Centr...

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Principais autores: Ribeiro, Lucas, Maria Lima Gonçalves, Rosiane
Formato: Online
Idioma:por
Publicado em: Portal de Periódicos Eletrônicos da UFRN
Endereço do item:https://periodicos.ufrn.br/ambiente/article/view/21488
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id oai:periodicos.ufrn.br:article-21488
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institution Periódicos UFRN
collection Portal de Pediódicos Eletrônicos da UFRN
language por
format Online
author Ribeiro, Lucas
Maria Lima Gonçalves, Rosiane
spellingShingle Ribeiro, Lucas
Maria Lima Gonçalves, Rosiane
Diversification of revenues in credit unions in Brazil and their influence on financial performance
author_facet Ribeiro, Lucas
Maria Lima Gonçalves, Rosiane
author_sort Ribeiro, Lucas
title Diversification of revenues in credit unions in Brazil and their influence on financial performance
title_short Diversification of revenues in credit unions in Brazil and their influence on financial performance
title_full Diversification of revenues in credit unions in Brazil and their influence on financial performance
title_fullStr Diversification of revenues in credit unions in Brazil and their influence on financial performance
title_full_unstemmed Diversification of revenues in credit unions in Brazil and their influence on financial performance
title_sort diversification of revenues in credit unions in brazil and their influence on financial performance
description Purpose: To analyze the effect of revenue diversification on the financial performance of Credit Union in Brazil, from 2014 to 2018. Methodology: The panel data regression model was used and 263 credit unions were evaluated, making a total of 2,630 observations. The data were obtained from the Central Bank of Brazil. The variables were defined according to the study by Mathuva (2016), in which the dependent variables were ROA, ROE and their volatility measures. Results: The results indicated that the diversification of activities in the cooperatives positively influenced the financial performance, and the signs found indicated that the more balanced this process is, the better the result and the lower the risk, given by the volatility of returns. When specifically evaluating service revenues, that is, the direct effect of this revenue source, an inverse relationship with performance was found and that returns become more volatile as cooperatives increase service revenues. These results may be due both to the maturity stage of the cooperatives in these business lines whose participation in the formation of revenues is still low, as well as suggest that the performance of the cooperatives tends to be expanded by expanding the provision of services and at the same time strengthening existing business lines, in which the institution has comparative advantages. The combined effect of these different sources of funds is that, during the analyzed period, it had an influence on the performance of Brazilian credit unions. Contributions of the Study: Assessing the factors that influence the performance of credit unions contributes to the definition of growth promotion strategies for these institutions that play an important economic and social role in the provision of financial services. For the literature, this study contributes to understanding the behavior of credit cooperatives' performance in a context of expansion of service revenues by financial institutions, whose research is still incipient and not conclusive.
publisher Portal de Periódicos Eletrônicos da UFRN
publishDate 2021
url https://periodicos.ufrn.br/ambiente/article/view/21488
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AT marialimagoncalvesrosiane diversificationofrevenuesincreditunionsinbrazilandtheirinfluenceonfinancialperformance
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AT marialimagoncalvesrosiane diversificaciondeingresosencooperativasdecreditoenbrasilysuinfluenciaeneldesempenofinanceiro
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spelling oai:periodicos.ufrn.br:article-214882023-01-18T20:56:57Z Diversification of revenues in credit unions in Brazil and their influence on financial performance Diversificación de ingresos en cooperativas de crédito en Brasil y su influencia en el desempeño financeiro Diversificação das receitas em cooperativas de crédito de livre admissão do Brasil e sua influência sobre desempenho financeiro Ribeiro, Lucas Maria Lima Gonçalves, Rosiane Performance indicators; financial cooperatives; diversification of products and services. Indicadores de desempeño; cooperativas financieras; diversificación de productos y servicios. Indicadores de desempenho; cooperativas financeiras; diversificação de produtos serviços. Diversificação de receitas e desempenho em cooperativas de crédito Purpose: To analyze the effect of revenue diversification on the financial performance of Credit Union in Brazil, from 2014 to 2018. Methodology: The panel data regression model was used and 263 credit unions were evaluated, making a total of 2,630 observations. The data were obtained from the Central Bank of Brazil. The variables were defined according to the study by Mathuva (2016), in which the dependent variables were ROA, ROE and their volatility measures. Results: The results indicated that the diversification of activities in the cooperatives positively influenced the financial performance, and the signs found indicated that the more balanced this process is, the better the result and the lower the risk, given by the volatility of returns. When specifically evaluating service revenues, that is, the direct effect of this revenue source, an inverse relationship with performance was found and that returns become more volatile as cooperatives increase service revenues. These results may be due both to the maturity stage of the cooperatives in these business lines whose participation in the formation of revenues is still low, as well as suggest that the performance of the cooperatives tends to be expanded by expanding the provision of services and at the same time strengthening existing business lines, in which the institution has comparative advantages. The combined effect of these different sources of funds is that, during the analyzed period, it had an influence on the performance of Brazilian credit unions. Contributions of the Study: Assessing the factors that influence the performance of credit unions contributes to the definition of growth promotion strategies for these institutions that play an important economic and social role in the provision of financial services. For the literature, this study contributes to understanding the behavior of credit cooperatives' performance in a context of expansion of service revenues by financial institutions, whose research is still incipient and not conclusive. Objetivo: Analizar el efecto de la diversificación de ingresos sobre el desempeño financiero de las cooperativas de crédito en Brasil, de 2014 a 2018. Metodología: Se utilizó el modelo de regresión de datos de panel y se evaluaron 263 cooperativas de crédito brasileñas, haciendo un total de 2.630 observaciones. Los datos fueron obtenidos del Banco Central de Brasil. Las variables fueron definidas según el estudio de Mathuva (2016), en el que las variables dependientes fueron ROA, ROE y sus medidas de volatilidad. Resultados: Los resultados indicaron que la diversificación de actividades en las cooperativas influyó positivamente en el desempeño financiero, y los signos encontrados indicaron que cuanto más equilibrado es este proceso, mejor es el resultado y menor el riesgo, dado por la volatilidad de los retornos. Al evaluar específicamente los ingresos por servicios, es decir, el efecto directo de esta fuente de ingresos, se encontró una relación inversa con el desempeño y que los retornos se vuelven más volátiles a medida que las cooperativas aumentan los ingresos por servicios. Estos resultados pueden deberse tanto a la etapa de madurez de las cooperativas en estas líneas de negocio cuya participación en la formación de ingresos aún es baja, como a sugerir que el desempeño de las cooperativas tiende a expandirse ampliando la prestación de servicios y al mismo tiempo fortaleciendo el líneas de negocio existentes, en las que la institución tiene ventajas comparativas. El efecto combinado de estas diferentes fuentes de fondos es que, durante el período analizado, influyó en el desempeño de las cooperativas de crédito brasileñas. Contribuciones del Estudio: la evaluación de los factores que influyen en el desempeño de las cooperativas de crédito contribuye a la definición de estrategias de promoción del crecimiento para estas instituciones que desempeñan un importante papel económico y social en la provisión de servicios financieros. Para la literatura, este estudio contribuye a comprender el comportamiento del desempeño de las cooperativas de crédito en un contexto de expansión de los ingresos por servicios por parte de las instituciones financieras, cuya investigación aún es incipiente y no concluyente. Objetivo: Analisar o efeito da diversificação das receitas sobre o desempenho financeiro das cooperativas de crédito de livre admissão brasileiras, no período de 2014 a 2018. Metodologia: Foi utilizado o modelo de regressão de dados em painel e avaliadas 263 cooperativas de livre admissão brasileiras, perfazendo um total de 2.630 observações. Os dados foram obtidos juntos ao Bacen. As variáveis foram definidas conforme o estudo de Mathuva (2016), em que as variáveis dependentes foram ROA, ROE e suas medidas de volatilidade Resultados: Os resultados indicaram que a diversificação de atividades nas cooperativas influenciou positivamente o desempenho financeiro. Os sinais encontrados demonstraram que quanto mais equilibrado esse processo melhor é o resultado e menor é o risco, dado pela volatilidade dos retornos. Ao se avaliar especificamente as receitas de serviços, ou seja, o efeito direto dessa fonte de receitas, foi constatada relação inversa com o desempenho e que os retornos se tornam mais voláteis à medida que as cooperativas aumentam as receitas com serviços. Esses resultados podem ser decorrentes tanto do estágio de maturidade das cooperativas nessas linhas de negócios cuja participação na formação das receitas ainda é baixa, quanto sugerem que o desempenho das cooperativas é ampliado à medida em que se fortalece as linhas de negócios já existentes, nas quais a instituição possui vantagens comparativas. O efeito combinado da expansão da prestação de serviços com a expertise nos processos de intermediação financeira é que, no período analisado, exerceu influência sobre o desempenho das cooperativas de livre admissão brasileiras. Contribuições do Estudo: Avaliar os fatores que exercem influência sobre o desempenho das cooperativas de crédito contribui para a definição de estratégias de promoção de crescimento dessas instituições que exercem importante papel econômico e social na prestação de serviços financeiros. Para literatura, esse estudo contribui para compreensão do comportamento do desempenho das cooperativas de crédito em um contexto de expansão das receitas de serviços pelas instituições financeiras, cujas pesquisas ainda são incipientes e não conclusivas. Portal de Periódicos Eletrônicos da UFRN 2021-07-02 info:eu-repo/semantics/article info:eu-repo/semantics/publishedVersion application/pdf https://periodicos.ufrn.br/ambiente/article/view/21488 REVISTA AMBIENTE CONTÁBIL - Universidade Federal do Rio Grande do Norte; Vol. 13 No. 2 (2021): Jul./Dez.; 121-144 REVISTA AMBIENTE CONTÁBIL - Universidade Federal do Rio Grande do Norte; Vol. 13 Núm. 2 (2021): Jul./Dez.; 121-144 REVISTA AMBIENTE CONTÁBIL - Universidade Federal do Rio Grande do Norte - ISSN 2176-9036; v. 13 n. 2 (2021): Jul./Dez.; 121-144 2176-9036 10.21680/2176-9036.2021v13n2 por https://periodicos.ufrn.br/ambiente/article/view/21488/14356 Copyright (c) 2021 REVISTA AMBIENTE CONTÁBIL - Universidade Federal do Rio Grande do Norte - ISSN 2176-9036 http://creativecommons.org/licenses/by-nc-sa/4.0

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