Segmentos do sistema financeiro nacional e eficiência do cooperativismo de crédito

Abstract

The Brazilian National Financial System (SFN) is splitted into segments that involves simpler rules for smaller institutions, in addition to the rules applied properly to the risk profile of them, adding the maximization of the financial intermediation process and turning them more efficient. This study aimed to analyze if the SFN Segmentation is related to the efficiency of Brazilian credit unions. The sample includes 661 single credit unions, embracing Classic and Full ones, with data for the years 2017 and 2018. Using Data Envelopment Analysis, it was calculated the efficiency scores for each credit union, which created the dependent variable at the regression Tobit model. In addition, it was used a Cluster Analysis to isolate credit union using the credit risk. The main results revealed that there is a difference in efficiency in relation to SFN Segmentation, it was verified that credit unions framed in S4 are more efficient n comparison to those framed in S5. Further, the level of efficiency is changed by: size, diversification, credit risk and there are differences in the South and Northeast regions of Brazil.The made clusters showed that 96% of S5 credit unions were part of the cluster of higher levels of credit risk, which proves the previous result that S4 credit unions are more eficiente, once the credit ris kis negatively related to efficiency. So, this study brings to light the discussion about SFN segmentation, bringing contributions to theory and practice.