Determinantes da rentabilidade dos bancos listados na B3 no período de 2010 a 2017

Abstract

This study aimend to analyse the determinants of profitability of brazilian banks listed in Brazilian Stock Exchange in period from 2010 to 2017. For this, the possible correlations between profitability and treasury and credit operations, capital structure, efficiency index e bank spread were analysed. The data are annual and the sample include financial institutions that contained data for the period studied, totaling 153 observations. To reach the proposed objective, a regression analysis was made with unbalanced panel data with fixed effect. The analysis of results showed that credit and treasury operations directly impact on the results, showing a positive correlation with the ROE increase. The capital structure variable had a negative correlation, demonstrating that the decrease in this varable is related to the increase in profitability in these institutions. The spread variable was positively correlated with the ROE increase in this study. The effiency index was not considered significant at the level of 5%.