Risco positivo na atividade de crédito que otimiza o desempenho econômico financeiro de cooperativas de crédito
DOI:
https://doi.org/10.20435/1984042X2016213Keywords:
risco positivo, desempenho econômico-financeiro, cooperativas de crédito.Abstract
A pesquisa objetiva identificar o nível de risco positivo na atividade de crédito que otimiza odesempenho econômico-financeiro de cooperativas de crédito. A Teoria de Finanças consubstancia a pesquisa, no desempenho econômico-financeiro e na determinação do risco positivo em pesquisa, nas dez maiores cooperativas de crédito brasileiras. O desempenho econômico-financeiro permitiu a validação do grau de risco positivo no desempenho da atividade de crédito, que se apresenta de forma conservadora e equalizada nas cooperativas.References
AHARONY, Joseph; JONES, Charles P.; SWARY, Itzhak. An analysis of risk and return characteristics of corporate bankruptcy using capital market data. The Journal of Finance, v. 35, n. 4, p. 1001-1016, set. 1980.
ANDERSEN, Torben Juul. M ultinational risk and performance outcomes: effects of knowledge intensity and industry context. International Business Review, p. 1-14, fev. 2011.
ALTMAN, Edward I. Financial ratios, discriminant analysis and the prediction of corporate bankruptcy. The Journal of Finance, v. 23, n. 4, p. 589-609, set. 1968.
______. Corporate bankruptcy potential, stockholder returns and share valuation. The Journal of Finance, v. 24, n. 5, p. 887-900, dez. 1969.
_____. Railroad bankruptcy propensity. The Journal of Finance, v. 26, n. 2, p. 333-345, maio 1971.
AVERY, Robert B.; BELTON, Terrence M.; GOLBERG, Michael A. Market discipline in regulating bank risk: new evidence from the capital markets. Journal of Money, Credit and Banking, v. 20, n. 4, p. 597-610, nov. 1988.
AVIO, Kenneth L. On the effects of statutory interest rate ceilings. The Journal of Finance, v. 29, n. 5, p. 1383- 1395, dez. 1974.
BANCO CENTRAL DO BRASIL (BACEN). Relatório de gestão. 2010. Disponível em: <www.bcb.gov.br>. Acesso em: 8 dez. 2011.
______. Relatório de inclusão financeira. Brasília, DF, n. 2, 2011. Disponível em: <www.bcb.gov.br>. Acesso em: 18 dez. 2011.
BARGER, Harold. Speculation and the risk-preference. The Journal of Political Economy, v. 46, n. 3, p. 396-408, jun. 1938.
BEAVER. William H. Financial ratios as predictors of failure. Journal of Accounting Research, v. 4, p. 71-111, 1966.
BEKAERT, Geert; HARVEY, Campbell R.; LUNBLAND, Christian. Liquidity and expected returns: lessons from emerging markets. The Review of Financial Studies, v. 20, n. 6, p. 1783-1831, nov. 2007.
CARLETON, Willard T. An Analytical Model for Long- Range Financial Planning. The Journal of Finance, v. 25, n. 2, p. 291-315, maio 1970.
COOLEY, Philip L. A multidimensional analysis of institutional investor perception of risk. The Journal of Finance, v. 32, n. 1, p. 67-78, mar. 1977.
CORNETT, Marcia Millon; TEHRANIAN, Hassan. Changes in corporate performance associated with bank acquisitions. Journal of Financial Economics, v. 31, p. 211-234, ago. 1992.
C ORRAR, Luiz João; THEÓPHILO, Carlos Renato; BERGMANN, Daniel Reed. Regressões. I n: CORRAR, Luiz João; THEÓPHILO, Carlos Renato (Org.). Pesquisa operacional para decisão em contabilidade e administração: contabilometria. São Paulo: Atlas, 2004.
C RESWELL, John W. Projeto de pesquisa: métodos qualitativo, quantitativo e misto. 3. ed. Porto Alegre, RS: Artmed-Bookman, 2010.
CUNHA, Jacqueline Veneroso Alves da; COELHO, Antonio Carlos. Regressão Linear Múltipla. In: CORRAR, Luiz João; PAULO, Edilson; DIAS FILHO, José Maria. Análise multivariada: para cursos de administração, ciências contábeis e economia. São Paulo: Atlas, 2007.
DALEY, J.; MATTHEWS, K.; WHITFIELD, K. T oo-bigto- fail: Bank failure and banking policy in Jamaica. Int. Fin. Markets, Inst. and Money, n. 18, p. 290-303, 2008.
D EMIRGÜÇ-KUNT, A.; MAKSIMOVIC, V. Stock market development and fi nancing choices of fi rms. The World Bank Economic Review, v. 10, p. 341-369, 1996.
DOW, J. C. R. A theoretical account of futures markets. The Review of Economic Studies, v. 7, n. 3, p. 185-195, jun. 1940.
DUFFIE, Darrell; SINGLETON, Kenneth J. Credit risk: princing, measurement, and management. New Jersey: Princeton, 2003.
D ZEAWUNI, Wirnkar A.; TANKO Muhammad. Camel(s) and banks performance evaluation: the way forward. Jun. 24, 2008. Disponível em: <http://ssrn.com/ abstract=1150968>. Acesso em: jul. 2011.
GIL, Antônio Carlos. Métodos e técnicas de pesquisa social. 5. ed. São Paulo: Atlas, 1999.
GITMAN, Lawrence J. Princípios de administração financeira. 10. ed. São Paulo: Pearson Education do Brasil, 2004.
GODLEWSKI, Christophe J. Modélisation de la prévision de défaillance bancaire et factuers réglementaires: une application aux banques des pays emergents. EconWPA, Finance 0409026, Julliet 2003. Disponível em: <http://econwpa.repec.org/eps/fin/ papers/0409/0409027.pdf>.
GRACE, Martin F.; HARRINGTON, Scott E.; KLEIN, Robert W. Risk-based capital and solvency screening in property-liability insurance: hypotheses and empirical tests. The Journal of Risk and Insurance, v. 65, n. 2, p. 213-243, jun. 1998.
GRINBLATT, Mark; TITMAN, Sheridan. Performance measurement without benchmarks: an examination of mutual fund returns. The Journal of Business, v. 66, n. 1, p. 47-68, jan. 1993.
HAHN, F. H. Uncertainty and the cobweb. The Review of Economic Studies, v. 23, n. 1, p. 65-75, 1955.
HAIR JR., Joseph F. Análise multivariada de dados. 6. ed. PortoAlegre, RS: Bookman, 2009.
H ELMBERGER, Peter; HOOS, Sidney. Cooperative enterprise and organization theory. Jornal de Economia do Farm, v., n. 2, maio 1962.
H ENDRIKSEN, Eldon S.; VAN BREDA, Michael F. Teoria da contabilidade. São Paulo: Atlas, 1999.
HORRIGAN, James O. The determination of longterm credit standing with fi nancial ratios. Journal of Accounting Research, v. 4, p. 44-62, 1966.
HULME, David. Impact Assessment methodologies for microfi nance: theory, experience and better practice. World Development, v. 28, n. 1, p. 79-98, 2000.
HUNJAK, Tihomir; JAKOVČEVIĆ, Drago. AHP based model for bank performance evaluation and rating. 6th ISAHP, Switzerland, p. 2-4, ago. 2001.
KALDOR, Nicholas. Speculation and economic stability. The Review of Economic Studies, v. 7, n. 1, p. 1-27, out. 1939.
KRABS, Werner; PICKL, Stefan. Modelling, analysis and optimization of biosystems. [S.l.]: Springer, 2007.
KUMAR, Sameer; ARORA, Sant. A model for risk classification of banks. Managerial and Decision Economics, v. 16, n. 2, p. 155-165, mar./abr. 1995.
MAROCO, João. Análise estatística com utilização do SPSS. 2. ed. Lisboa: Sílabo, 2003.
MARSHALL, Christopher Lee. Medindo e gerenciando riscos operacionais em instituições financeiras. Rio de Janeiro: Qualitymark, 2002.
MARTIN, D. Early warning of bank failure: a logit regression approach. Journal of Banking and Finance, v. 1, p. 249-276, 1977.
MARTINS, Gilberto de Andrade; THEÓPHILO, Carlos Renato. Metodologia da investigação científica para ciências sociais aplicadas. São Paulo: Atlas, 2007.
MATTAR, F. N. Pesquisa de marketing: metodologia, planejamento. São Paulo: Atlas, 1997.
McKERNAN, Signe-Mary. The Impact of Microcredit Programs on Self-Employment Profi ts: Do Noncredit Program Aspects Matter? The Review of Economics and Statistics, v. 84, n. 1, p. 93-115, fev. 2002.
MEEHLING, Charles F. Federal credit unions in the United States: an analysis. The Journal of Finance, v. 14, n. 1, p. 93-94, mar. 1959.
MENG, Ming; NIU, Dongxiao. Modeling CO2 emissions from fossil fuel combustion using the logistic equation. Energy, v. 36, p. 3355-3359, 2011.
MEYER, Paul A.; PIFER, Howard W. Prediction of bank failures. The Journal of Finance, v. 25, n. 4, p. 853-868, set. 1970.
MIRANDA, L. C. M.; LIMA, C. A. S. On the logistic modeling and forecasting of evolutionary processes: Application to human population dynamics. Technological Forecasting & Social Change, v. 77, p. 699- 711, 2010.
MODIS, Theodore. Technological forecasting at the stock market. Technological Forecasting and Social Change, n. 62, p. 173-202, 1999.
M OODY, J. Carroll; FITE, Gilbert C. The credit union movement: origins and development 1850 to 1980. Iowa: Kendall/Hunt, 1971.
P ARLIAMENT, Claudia; LENNAN, Zvi; FULTON, Joan. Performance of cooperatives and investor-owned firms in the dairy industry. Journal of Agricultural Cooperation, p. 1-16, 1990.
P EARL, Raymond; REED, Lowell J. On the rate of growth of the population of the united states since 1790
and its mathematical representation. Proceedings of the National Academy of Sciences, v. 6, n. 6, 15 jun. 1920.
PETTWAY, Richard H.; SINKEY JR., Joseph F. Establishing on-site bank examination priorities: an early-warning system using accounting and market information. The Journal of Finance, v. 35, n. 1, p. 137- 150, mar. 1980.
RENWICK, Fred B. Asset management and investor portfolio behavior: theory and practice. The Journal of Finance, v. 24, n. 2, p. 181-206, maio 1969.
SAHUT, Jean-Michel; MILI, Mehdi. Banking distress in MENA countries and the role of mergers as a strategic policy to resolve distress. Economic Modelling, v. 28, p. 138-146, 2011.
S ECRIST, Horace. National bank failures and non-failures: an autopsy and diagnosis. Bloomington, Ind.: Principia Press, 1938.
SINKEY JR., Joseph F. Multivariate statistical analysis of the characteristics of problem banks. The Journal of Finance, v. 30, n. 1, p. 21-36, mar. 1975.
SPROTT, J. C.; WILDENBERG, J. C.; AZIZI, Y. A simple spatiotemporal chaotic Lotka–Volterra model. Chaos, Solitons and Fractals, n. 26, p. 1035-1043, jan. 2005.
STUHR, David P.; WICKLEN, Robert V. Rating the fi nancial condition of banks: a statistical approach to aid bank supervision. Fe deral Reserve Bank of New York. Monthly Review, set. 1974.
TRIBUNAL SUPERIOR ELEITORAL (TSE), 2011. Disponível em: <www.tre.gov.br>. Acesso em: fev. 2012.
VERHULST, P. F. Loid´acroissement de la population. Recherches of Matématiques. Avril, Bruxelles, 1845.
WOLFE, A. B. Is there a biological law of human population growth? The Quarterly Journal of Economics, v. 41, n. 4, p. 557-594, ago. 1927.
WOLKEN, John D.; NAVRATIL, Frank J. The economic impact of the federal credit union usury ceiling. The Journal of Finance, v. 36, n. 5, p. 1157-1168, dez. 1981.
YEH, Quey-Jen.The application of data envelopment analysis in conjunction with fi nancial ratios for bank performance evaluation. The Journal of the Operational Research Society, v. 47, n. 8, p. 980-988, ago. 1996.
Downloads
Published
How to Cite
Issue
Section
License
Direitos Autorais para artigos publicados nesta revista são do autor, com direitos de primeira publicação para a revista. Em virtude de aparecerem nesta revista de acesso público, os artigos são de uso gratuito, com atribuições próprias, em aplicações educacionais e não-comerciais.
