Efficiency and profitability of development finance agencies

Detalhes bibliográficos
Autor(a) principal: Souza, Juliana Ribeiro
Data de Publicação: 2021
Outros Autores: Oliveira, Joice Garcia de, Barbosa Neto, João Estevão, Pinheiro, Juliano Lima
Tipo de documento: Artigo
Idioma: por
eng
Título da fonte: Revista de Administração Pública
Texto Completo: https://periodicos.fgv.br/rap/article/view/84391
Resumo: Development Finance Agencies (DFAs) carry out public investments and development policies. In Brazil, their main objective is to promote welfare, contribute to the states’ social and economic development, guarantee sustainability, and reduce regional and social inequalities. This descriptive research adopted a quantitative approach and aimed to analyze the efficiency and profitability levels of DFAs in Brazilian states. Standard indicators were used to analyze these agencies’ efficiency and profitability and median tests were conducted to verify whether the size of the agency influences the performance of the observed indicators. The sample consisted of 14 DFAs, in the period from 2012 to 2018. The results showed that larger DFAs tend to show an excellent efficiency level, while agencies with less infrastructure demonstrated regular and unsatisfactory efficiency. Also, DFAs with more significant total assets were more likely to present regular or unsatisfactory profitability. Finally, efficiency ratio (ER) and average return on credit operations (RCO) were identified as adequate indicators to analyze the DFAs’ performance.
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spelling Efficiency and profitability of development finance agenciesEficiencia y rentabilidad de las agencias financieras de desarrolloEficiência e rentabilidade das agências financeiras de fomentoDevelopment Finance Agencies (DFAs) carry out public investments and development policies. In Brazil, their main objective is to promote welfare, contribute to the states’ social and economic development, guarantee sustainability, and reduce regional and social inequalities. This descriptive research adopted a quantitative approach and aimed to analyze the efficiency and profitability levels of DFAs in Brazilian states. Standard indicators were used to analyze these agencies’ efficiency and profitability and median tests were conducted to verify whether the size of the agency influences the performance of the observed indicators. The sample consisted of 14 DFAs, in the period from 2012 to 2018. The results showed that larger DFAs tend to show an excellent efficiency level, while agencies with less infrastructure demonstrated regular and unsatisfactory efficiency. Also, DFAs with more significant total assets were more likely to present regular or unsatisfactory profitability. Finally, efficiency ratio (ER) and average return on credit operations (RCO) were identified as adequate indicators to analyze the DFAs’ performance.Las agencias financieras de desarrollo (AFF, por sus siglas en portugués) establecieron mecanismos para llevar a cabo políticas públicas de inversión y desarrollo, cuyo objetivo principal es la propagación del bienestar social, contribuyendo al desarrollo social y económico de los estados, con el fin de garantizar su sostenibilidad y reducir las desigualdades regionales y sociales. Dado este contexto, el objetivo del presente estudio fue analizar el nivel de eficiencia y rentabilidad de las AFF brasileñas. El estudio se caracteriza como una investigación descriptiva con enfoque cuantitativo. El análisis de los índices estándar se utilizó para analizar la eficiencia y la rentabilidad de estas agencias, así como las pruebas de medianas para verificar si el tamaño de la agencia influye en estos indicadores de desempeño. La muestra consistió en 14 AFF, en el período de 2012 a 2018. Los resultados mostraron que las AFF de mayor porte tienden a obtener un excelente nivel de eficiencia, mientras que las agencias con menos infraestructura se clasificaron como regulares e insatisfactorias; y que las AFF con mayores activos totales tienen más probabilidades de alcanzar un nivel de rentabilidad regular o insatisfactorio. Además, los índices de eficiencia (IE) y la rentabilidad media de las operaciones crediticias se identificaron como indicadores favorables para el análisis del desempeño de las AFF.As agências financeiras de fomento (AFFs) configuram mecanismos de realização de políticas públicas de investimento e desenvolvimento, cujo objetivo maior é a propagação do bem-estar social, contribuindo para o desenvolvimento social e econômico dos estados, a fim de garantir sua sustentabilidade e reduzir as desigualdades regionais e sociais. Diante desse contexto, o objetivo do presente estudo é analisar o nível de eficiência e rentabilidade das AFFs brasileiras. O exame se caracteriza como pesquisa descritiva, com abordagem quantitativa. Empregou-se a análise de índices-padrão para analisar a eficiência e a rentabilidade dessas agências, bem como testes de medianas para verificar se o tamanho da agência influencia nesses indicadores de desempenho. A amostra foi composta por 14 AFFs, no período de 2012 a 2018. Os resultados apontaram que as AFFs de maior porte tendem a obter nível excelente de eficiência, enquanto agências com menor infraestrutura se encontraram classificadas nos níveis regular e insatisfatório. Por outro lado, as AFFs com maior ativo total têm maior probabilidade de obter nível regular ou insatisfatório em sua rentabilidade. Além disso, os índices de eficiência (IE) e o retorno médio das operações de crédito (RET) foram apontados como indicadores propícios à análise de desempenho das AFFs.Fundação Getulio Vargas (FGV EBAPE)2021-08-27info:eu-repo/semantics/articleinfo:eu-repo/semantics/publishedVersionapplication/pdfapplication/pdfhttps://periodicos.fgv.br/rap/article/view/8439110.1590/0034-761220200111Brazilian Journal of Public Administration; Vol. 55 No. 4 (2021); 969-994Revista de Administração Pública; Vol. 55 Núm. 4 (2021); 969-994Revista de Administração Pública; v. 55 n. 4 (2021); 969-9941982-31340034-7612reponame:Revista de Administração Públicainstname:Fundação Getulio Vargas (FGV)instacron:FGVporenghttps://periodicos.fgv.br/rap/article/view/84391/79962https://periodicos.fgv.br/rap/article/view/84391/79963Souza, Juliana RibeiroOliveira, Joice Garcia deBarbosa Neto, João EstevãoPinheiro, Juliano Limainfo:eu-repo/semantics/openAccess2021-08-27T16:01:53Zoai:ojs.periodicos.fgv.br:article/84391Revistahttps://ebape.fgv.br/publicacoes/rapONGhttps://old.scielo.br/oai/scielo-oai.php||rap@fgv.br1982-31340034-7612opendoar:2021-08-27T16:01:53Revista de Administração Pública - Fundação Getulio Vargas (FGV)false
dc.title.none.fl_str_mv Efficiency and profitability of development finance agencies
Eficiencia y rentabilidad de las agencias financieras de desarrollo
Eficiência e rentabilidade das agências financeiras de fomento
title Efficiency and profitability of development finance agencies
spellingShingle Efficiency and profitability of development finance agencies
Souza, Juliana Ribeiro
title_short Efficiency and profitability of development finance agencies
title_full Efficiency and profitability of development finance agencies
title_fullStr Efficiency and profitability of development finance agencies
title_full_unstemmed Efficiency and profitability of development finance agencies
title_sort Efficiency and profitability of development finance agencies
author Souza, Juliana Ribeiro
author_facet Souza, Juliana Ribeiro
Oliveira, Joice Garcia de
Barbosa Neto, João Estevão
Pinheiro, Juliano Lima
author_role author
author2 Oliveira, Joice Garcia de
Barbosa Neto, João Estevão
Pinheiro, Juliano Lima
author2_role author
author
author
dc.contributor.author.fl_str_mv Souza, Juliana Ribeiro
Oliveira, Joice Garcia de
Barbosa Neto, João Estevão
Pinheiro, Juliano Lima
description Development Finance Agencies (DFAs) carry out public investments and development policies. In Brazil, their main objective is to promote welfare, contribute to the states’ social and economic development, guarantee sustainability, and reduce regional and social inequalities. This descriptive research adopted a quantitative approach and aimed to analyze the efficiency and profitability levels of DFAs in Brazilian states. Standard indicators were used to analyze these agencies’ efficiency and profitability and median tests were conducted to verify whether the size of the agency influences the performance of the observed indicators. The sample consisted of 14 DFAs, in the period from 2012 to 2018. The results showed that larger DFAs tend to show an excellent efficiency level, while agencies with less infrastructure demonstrated regular and unsatisfactory efficiency. Also, DFAs with more significant total assets were more likely to present regular or unsatisfactory profitability. Finally, efficiency ratio (ER) and average return on credit operations (RCO) were identified as adequate indicators to analyze the DFAs’ performance.
publishDate 2021
dc.date.none.fl_str_mv 2021-08-27
dc.type.driver.fl_str_mv info:eu-repo/semantics/article
info:eu-repo/semantics/publishedVersion
format article
status_str publishedVersion
dc.identifier.uri.fl_str_mv https://periodicos.fgv.br/rap/article/view/84391
10.1590/0034-761220200111
url https://periodicos.fgv.br/rap/article/view/84391
identifier_str_mv 10.1590/0034-761220200111
dc.language.iso.fl_str_mv por
eng
language por
eng
dc.relation.none.fl_str_mv https://periodicos.fgv.br/rap/article/view/84391/79962
https://periodicos.fgv.br/rap/article/view/84391/79963
dc.rights.driver.fl_str_mv info:eu-repo/semantics/openAccess
eu_rights_str_mv openAccess
dc.format.none.fl_str_mv application/pdf
application/pdf
dc.publisher.none.fl_str_mv Fundação Getulio Vargas (FGV EBAPE)
publisher.none.fl_str_mv Fundação Getulio Vargas (FGV EBAPE)
dc.source.none.fl_str_mv Brazilian Journal of Public Administration; Vol. 55 No. 4 (2021); 969-994
Revista de Administração Pública; Vol. 55 Núm. 4 (2021); 969-994
Revista de Administração Pública; v. 55 n. 4 (2021); 969-994
1982-3134
0034-7612
reponame:Revista de Administração Pública
instname:Fundação Getulio Vargas (FGV)
instacron:FGV
instname_str Fundação Getulio Vargas (FGV)
instacron_str FGV
institution FGV
reponame_str Revista de Administração Pública
collection Revista de Administração Pública
repository.name.fl_str_mv Revista de Administração Pública - Fundação Getulio Vargas (FGV)
repository.mail.fl_str_mv ||rap@fgv.br
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