Análise do risco de liquidez em cooperativas de crédito de economia solidária

• Ano de defesa: 2011
• Autor(a) principal: Melo, Edson Santos
• Orientador(a): Lima, João Eustáquio de
• Banca de defesa: Gomes, Marília Fernandes Maciel , Ferreira, Marco Aurélio Marques , Bressan, Valéria Gama Fully
• Tipo de documento: Dissertação
• Tipo de acesso: Acesso aberto
• Idioma: por
• Instituição de defesa: Universidade Federal de Viçosa
• Programa de Pós-Graduação: Mestrado em Economia Aplicada
• Departamento: Economia e Gerenciamento do Agronegócio; Economia das Relações Internacionais; Economia dos Recursos
• País: BR
• Palavras-chave em Português: Risco de liquidez; Cooperativa de crédito; Economia solidária
• Palavras-chave em Inglês: Liquidity risk; Credit unions; Solidarity economy
• Área do conhecimento CNPq: CNPQ::CIENCIAS SOCIAIS APLICADAS::ECONOMIA::METODOS QUANTITATIVOS EM ECONOMIA
• Link de acesso: http://locus.ufv.br/handle/123456789/54

Rural credit unions have always been pointed as one of the main alternatives to democratize credit access, especially to small family farmers. Nevertheless, those cooperatives are subjected to regulations established in the National Financial System and, also, to all inherited risks of financial activity. Therefore, this study main objective was to analyze the chief indicators that can to contribute to the probability of liquidity risk occurrence on the rural credit unions with solidary interaction in the Cresol system, on the period of 2001 to 2009. The technical referential was based on information asymmetry present in the cooperative scenario, on the risk related to the financial institutions and on the importance of financial statements in the economic and financial analysis of credit unions. To reach the main objective proposed, it was utilized as analytical referential the binary logit model with panel data and a multinomial logit model, in the last one considering some liquidity risk bands. Among the models analyzed in the logit binary, the panel logit model with random effects was the best in adjusting to the data, being the dependent variable the occurrence of the cooperative to be classified as liquid or illiquid. It was verified in this model the indicators that contribute to determine liquidity risk occurrence on the analyzed cooperatives, that are: the The third part capital utilization, provisioning, credit volume, ratio of total deposits and credit operations and the age of the cooperative. While the third part capital utilization and provisioning indicators contributed to rise the liquidity risk, the others had a contrary influence. Once evaluating the liquidity risk by the multinomial logit model, the cooperatives were classified in a band that comprehended a very low and a very high liquidity risk. On this model it was utilized the same variables that were used in the binary logit. The third part capital utilization indicator detached as the one that contributed most to rise the probability that the analyzed cooperatives reach the high liquidity risk, followed by the provisioning indicator. Among the indicators that contributed most to low the probability of the occurrence of liquidity risk, detached the relation between total deposit and credit operations indicator, that lowered on even 11 perceptual points the probability of the rural credit unions with solidary interaction on the Cresol System to be with high liquidity risk. At last, beside some limitation present in this work, it come to contribute to fill an existing gap regarding the understanding liquidity risk of the rural credit unions that operate by the solidarity economy system.