Análise do RAROC utilizando modelo DuPont dos bancos privados listados na BM&FBOVESPA de 2010 a 2015
Autor(a) principal: | |
---|---|
Data de Publicação: | 2017 |
Tipo de documento: | Dissertação |
Idioma: | por |
Título da fonte: | Biblioteca Digital de Teses e Dissertações da PUC_SP |
Texto Completo: | https://tede2.pucsp.br/handle/handle/20167 |
Resumo: | The key factors when analyzing invested capital returns versus the risks assumed by financial institutions have been widely discussed in corporate finance. The goal of this study is to understand the contribution of economic-financial factors when explaining the risk-adjusted return on capital: RAROC. In this context, this metric, in its starting point, was used on the foundation of capital management in financial institutions under the approaches of risk mitigation versus maximization return. Therefore, this study considers a sample of eleven banks with capital being traded on BM&FBOVESPA and was distributed in three groups: (i) large, (ii) medium and (iii) small size, with the size defined according to the BACEN criteria described in the Financial Stability Report. The analysis of the economic-financial factors are based on the DuPont model, starting from the ROE (Return On Equity), and afterwards, calculating RAROC in financial institutions, considering three factors: i) capital financial leverage, as the ratio between assets allocated to risks and available risk capital; ii) assets profitability, calculated by the ratio between net revenues and risk-weighted assets, and iii) profit margin rate, which measures the operational and tax efficiency based on the ratio of economic profit to net revenues. The period considered in this analysis is from 2010 to 2015 with semiannual data obtained in the Financial Statements and Risk and Capital Management Documents released by financial institutions, which as selected for being the period after the banking crisis of 2008 and 2009. The methodology adopted is empirical-analytic and the type of research that is characterized as quantitative, descriptive and documentary. The results obtained with the use of Pearson (r) statistical correlation techniques and multiple linear regression in the stepwise method (r2 adjusted), as well as the hypothesis tests, indicated the existence of peculiar characteristics to the studied groups. The group of large banks presented the profit margin rate as the one with the highest explanatory capacity of RAROC with a correlation of 0.982 and r2 of 96.3%, thus demonstrating that the efficient management of the structure costs was presented as a differentiating factor in the Risk-adjusted return on capital. Regarding the group of medium-sized banks, the factors of profitability and profit margin rate profitability presented a modest explanatory capacity and quite similar with r2 of 48.4% and 43.1%, respectively. In the group of small banks, the profit margin rate had a high explanatory power with r2 of 76.1%. It should be considered that the market of medium and small banks is more vulnerable to economic crises and presents a higher cost of funding, thus requiring a continuous search for high specialization, differentiation and flexibility in their businesses. The justification for this work is based on the relevance and timeliness of the theme for the academic community and the representativeness of banking activity in the country's economic development |
id |
PUC_SP-1_6f925f111a0041f97a203a1b94a79a8d |
---|---|
oai_identifier_str |
oai:repositorio.pucsp.br:handle/20167 |
network_acronym_str |
PUC_SP-1 |
network_name_str |
Biblioteca Digital de Teses e Dissertações da PUC_SP |
repository_id_str |
|
spelling |
Santos, José Odálio doshttp://buscatextual.cnpq.br/buscatextual/visualizacv.do?id=K8318581J3Assis, José do Socorro2017-06-20T12:21:57Z2017-06-07Assis, José do Socorro. Análise do RAROC utilizando modelo DuPont dos bancos privados listados na BM&FBOVESPA de 2010 a 2015. 2017. 106 f. Dissertação (Mestrado em Administração) - Programa de Estudos Pós-Graduados em Administração, Pontifícia Universidade Católica de São Paulo, São Paulo, 2017.https://tede2.pucsp.br/handle/handle/20167The key factors when analyzing invested capital returns versus the risks assumed by financial institutions have been widely discussed in corporate finance. The goal of this study is to understand the contribution of economic-financial factors when explaining the risk-adjusted return on capital: RAROC. In this context, this metric, in its starting point, was used on the foundation of capital management in financial institutions under the approaches of risk mitigation versus maximization return. Therefore, this study considers a sample of eleven banks with capital being traded on BM&FBOVESPA and was distributed in three groups: (i) large, (ii) medium and (iii) small size, with the size defined according to the BACEN criteria described in the Financial Stability Report. The analysis of the economic-financial factors are based on the DuPont model, starting from the ROE (Return On Equity), and afterwards, calculating RAROC in financial institutions, considering three factors: i) capital financial leverage, as the ratio between assets allocated to risks and available risk capital; ii) assets profitability, calculated by the ratio between net revenues and risk-weighted assets, and iii) profit margin rate, which measures the operational and tax efficiency based on the ratio of economic profit to net revenues. The period considered in this analysis is from 2010 to 2015 with semiannual data obtained in the Financial Statements and Risk and Capital Management Documents released by financial institutions, which as selected for being the period after the banking crisis of 2008 and 2009. The methodology adopted is empirical-analytic and the type of research that is characterized as quantitative, descriptive and documentary. The results obtained with the use of Pearson (r) statistical correlation techniques and multiple linear regression in the stepwise method (r2 adjusted), as well as the hypothesis tests, indicated the existence of peculiar characteristics to the studied groups. The group of large banks presented the profit margin rate as the one with the highest explanatory capacity of RAROC with a correlation of 0.982 and r2 of 96.3%, thus demonstrating that the efficient management of the structure costs was presented as a differentiating factor in the Risk-adjusted return on capital. Regarding the group of medium-sized banks, the factors of profitability and profit margin rate profitability presented a modest explanatory capacity and quite similar with r2 of 48.4% and 43.1%, respectively. In the group of small banks, the profit margin rate had a high explanatory power with r2 of 76.1%. It should be considered that the market of medium and small banks is more vulnerable to economic crises and presents a higher cost of funding, thus requiring a continuous search for high specialization, differentiation and flexibility in their businesses. The justification for this work is based on the relevance and timeliness of the theme for the academic community and the representativeness of banking activity in the country's economic developmentOs fatores determinantes na geração de retornos de capital investido frente aos riscos assumidos nas instituições financeiras têm sido tema amplamente discutido nas finanças corporativas. O objetivo desta pesquisa é compreender a contribuição dos fatores econômico-financeiros na explicação do desempenho do retorno ajustado ao risco do capital: RAROC (Risk-Adjusted Return On Capital). Neste contexto, a utilização desta métrica teve, como ponto de partida, o fundamento da gestão do capital em instituições financeiras sob os enfoques da alocação em riscos versus a maximização retorno. Para tanto, a pesquisa considera a amostra de onze bancos com ações negociadas na BM&FBOVESPA e distribuídos em três grupos: (i) grande, (ii) médio e (iii) pequeno porte, tendo o porte definido conforme critério do BACEN descrito na Relatório de Estabilidade Financeira. A análise dos fatores econômico-financeiros apoia-se nos fundamentos do modelo DuPont, partindo da decomposição do ROE (Return On Equity) para a calcular o RAROC em instituições financeiras, onde se consideram três fatores: i) alavancagem financeira do capital, sendo a razão entre os ativos alocados em riscos e o capital disponível para riscos; ii) rentabilidade dos ativos, apurada pela razão entre as receitas líquidas e os ativos ponderados pelos riscos, e iii) taxa de lucratividade, medindo a eficiência operacional e tributária a partir da razão entre o lucro econômico e as receitas líquidas. O período selecionado foi de 2010 a 2015, com dados semestrais obtidos nas Demonstrações Financeiras e nos Documentos de Gerenciamento de Riscos e Capital divulgados pelas instituições financeiras, sendo considerado como o período posterior à crise bancária de 2008 e 2009. A metodologia adotada é de natureza empírico-analítica e o tipo de pesquisa caracteriza-se como quantitativa, descritiva e documental. Os resultados obtidos com a utilização de técnicas estatísticas de correlação de Pearson (r) e regressão linear múltipla no método stepwise (r2 ajustado), bem como os testes de hipóteses, onde indicaram a existência de características próprias para os grupos estudados. O grupo de bancos de grande porte apresentou o fator de lucratividade como o de maior capacidade de explicação do RAROC com correlação de 0,982 e r2 de 96,3%, demonstrando assim que a gestão eficiente dos custos da estrutura se apresentou como um fator diferenciador na geração do retorno ajustado ao risco do capital. No que diz respeito ao grupo de bancos de médio porte, os fatores lucratividade e rentabilidade apresentaram moderada capacidade de explicação e bastante similares com r2 de 48,4% e 43,1%, respectivamente. No grupo de bancos de pequeno porte, o fator lucratividade apresentou alta capacidade de explicação com r2 de 76,1%. Deve-se considerar que o mercado de bancos de médio e pequeno porte é mais vulnerável às crises econômicas e com maior custo de captação, exigindo assim a busca contínua da alta especialização, diferenciação e flexibilidade nos seus negócios. A justificativa deste trabalho baseia-se na relevância e atualidade do tema para a comunidade acadêmica e pela representatividade da atividade bancária no desenvolvimento econômico do paísapplication/pdfhttp://tede2.pucsp.br/tede/retrieve/42525/Jos%c3%a9%20do%20Socorro%20Assis.pdf.jpgporPontifícia Universidade Católica de São PauloPrograma de Estudos Pós-Graduados em AdministraçãoPUC-SPBrasilFaculdade de Economia, Administração, Contábeis e AtuariaisInstituições financeirasGestão de capitalGestão de riscosFinancial InstitutionsCapital managementRisk managementRisk-Adjusted Return on CapitalCNPQ::CIENCIAS SOCIAIS APLICADAS::ADMINISTRACAOAnálise do RAROC utilizando modelo DuPont dos bancos privados listados na BM&FBOVESPA de 2010 a 2015info:eu-repo/semantics/publishedVersioninfo:eu-repo/semantics/masterThesisinfo:eu-repo/semantics/openAccessreponame:Biblioteca Digital de Teses e Dissertações da PUC_SPinstname:Pontifícia Universidade Católica de São Paulo (PUC-SP)instacron:PUC_SPTEXTJosé do Socorro Assis.pdf.txtJosé do Socorro Assis.pdf.txtExtracted texttext/plain244460https://repositorio.pucsp.br/xmlui/bitstream/handle/20167/4/Jos%c3%a9%20do%20Socorro%20Assis.pdf.txtaf9109790e3dfb2731d305e913f577a1MD54LICENSElicense.txtlicense.txttext/plain; charset=utf-82165https://repositorio.pucsp.br/xmlui/bitstream/handle/20167/1/license.txtbd3efa91386c1718a7f26a329fdcb468MD51ORIGINALJosé do Socorro Assis.pdfJosé do Socorro Assis.pdfapplication/pdf981227https://repositorio.pucsp.br/xmlui/bitstream/handle/20167/2/Jos%c3%a9%20do%20Socorro%20Assis.pdf4e2868869711e770d5f230644639437dMD52THUMBNAILJosé do Socorro Assis.pdf.jpgJosé do Socorro Assis.pdf.jpgGenerated Thumbnailimage/jpeg1943https://repositorio.pucsp.br/xmlui/bitstream/handle/20167/3/Jos%c3%a9%20do%20Socorro%20Assis.pdf.jpgcc73c4c239a4c332d642ba1e7c7a9fb2MD53handle/201672022-12-20 10:21:31.115oai:repositorio.pucsp.br: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Biblioteca Digital de Teses e Dissertaçõeshttps://sapientia.pucsp.br/https://sapientia.pucsp.br/oai/requestbngkatende@pucsp.br||rapassi@pucsp.bropendoar:2022-12-20T13:21:31Biblioteca Digital de Teses e Dissertações da PUC_SP - Pontifícia Universidade Católica de São Paulo (PUC-SP)false |
dc.title.por.fl_str_mv |
Análise do RAROC utilizando modelo DuPont dos bancos privados listados na BM&FBOVESPA de 2010 a 2015 |
title |
Análise do RAROC utilizando modelo DuPont dos bancos privados listados na BM&FBOVESPA de 2010 a 2015 |
spellingShingle |
Análise do RAROC utilizando modelo DuPont dos bancos privados listados na BM&FBOVESPA de 2010 a 2015 Assis, José do Socorro Instituições financeiras Gestão de capital Gestão de riscos Financial Institutions Capital management Risk management Risk-Adjusted Return on Capital CNPQ::CIENCIAS SOCIAIS APLICADAS::ADMINISTRACAO |
title_short |
Análise do RAROC utilizando modelo DuPont dos bancos privados listados na BM&FBOVESPA de 2010 a 2015 |
title_full |
Análise do RAROC utilizando modelo DuPont dos bancos privados listados na BM&FBOVESPA de 2010 a 2015 |
title_fullStr |
Análise do RAROC utilizando modelo DuPont dos bancos privados listados na BM&FBOVESPA de 2010 a 2015 |
title_full_unstemmed |
Análise do RAROC utilizando modelo DuPont dos bancos privados listados na BM&FBOVESPA de 2010 a 2015 |
title_sort |
Análise do RAROC utilizando modelo DuPont dos bancos privados listados na BM&FBOVESPA de 2010 a 2015 |
author |
Assis, José do Socorro |
author_facet |
Assis, José do Socorro |
author_role |
author |
dc.contributor.advisor1.fl_str_mv |
Santos, José Odálio dos |
dc.contributor.authorLattes.fl_str_mv |
http://buscatextual.cnpq.br/buscatextual/visualizacv.do?id=K8318581J3 |
dc.contributor.author.fl_str_mv |
Assis, José do Socorro |
contributor_str_mv |
Santos, José Odálio dos |
dc.subject.por.fl_str_mv |
Instituições financeiras Gestão de capital Gestão de riscos |
topic |
Instituições financeiras Gestão de capital Gestão de riscos Financial Institutions Capital management Risk management Risk-Adjusted Return on Capital CNPQ::CIENCIAS SOCIAIS APLICADAS::ADMINISTRACAO |
dc.subject.eng.fl_str_mv |
Financial Institutions Capital management Risk management Risk-Adjusted Return on Capital |
dc.subject.cnpq.fl_str_mv |
CNPQ::CIENCIAS SOCIAIS APLICADAS::ADMINISTRACAO |
description |
The key factors when analyzing invested capital returns versus the risks assumed by financial institutions have been widely discussed in corporate finance. The goal of this study is to understand the contribution of economic-financial factors when explaining the risk-adjusted return on capital: RAROC. In this context, this metric, in its starting point, was used on the foundation of capital management in financial institutions under the approaches of risk mitigation versus maximization return. Therefore, this study considers a sample of eleven banks with capital being traded on BM&FBOVESPA and was distributed in three groups: (i) large, (ii) medium and (iii) small size, with the size defined according to the BACEN criteria described in the Financial Stability Report. The analysis of the economic-financial factors are based on the DuPont model, starting from the ROE (Return On Equity), and afterwards, calculating RAROC in financial institutions, considering three factors: i) capital financial leverage, as the ratio between assets allocated to risks and available risk capital; ii) assets profitability, calculated by the ratio between net revenues and risk-weighted assets, and iii) profit margin rate, which measures the operational and tax efficiency based on the ratio of economic profit to net revenues. The period considered in this analysis is from 2010 to 2015 with semiannual data obtained in the Financial Statements and Risk and Capital Management Documents released by financial institutions, which as selected for being the period after the banking crisis of 2008 and 2009. The methodology adopted is empirical-analytic and the type of research that is characterized as quantitative, descriptive and documentary. The results obtained with the use of Pearson (r) statistical correlation techniques and multiple linear regression in the stepwise method (r2 adjusted), as well as the hypothesis tests, indicated the existence of peculiar characteristics to the studied groups. The group of large banks presented the profit margin rate as the one with the highest explanatory capacity of RAROC with a correlation of 0.982 and r2 of 96.3%, thus demonstrating that the efficient management of the structure costs was presented as a differentiating factor in the Risk-adjusted return on capital. Regarding the group of medium-sized banks, the factors of profitability and profit margin rate profitability presented a modest explanatory capacity and quite similar with r2 of 48.4% and 43.1%, respectively. In the group of small banks, the profit margin rate had a high explanatory power with r2 of 76.1%. It should be considered that the market of medium and small banks is more vulnerable to economic crises and presents a higher cost of funding, thus requiring a continuous search for high specialization, differentiation and flexibility in their businesses. The justification for this work is based on the relevance and timeliness of the theme for the academic community and the representativeness of banking activity in the country's economic development |
publishDate |
2017 |
dc.date.accessioned.fl_str_mv |
2017-06-20T12:21:57Z |
dc.date.issued.fl_str_mv |
2017-06-07 |
dc.type.status.fl_str_mv |
info:eu-repo/semantics/publishedVersion |
dc.type.driver.fl_str_mv |
info:eu-repo/semantics/masterThesis |
format |
masterThesis |
status_str |
publishedVersion |
dc.identifier.citation.fl_str_mv |
Assis, José do Socorro. Análise do RAROC utilizando modelo DuPont dos bancos privados listados na BM&FBOVESPA de 2010 a 2015. 2017. 106 f. Dissertação (Mestrado em Administração) - Programa de Estudos Pós-Graduados em Administração, Pontifícia Universidade Católica de São Paulo, São Paulo, 2017. |
dc.identifier.uri.fl_str_mv |
https://tede2.pucsp.br/handle/handle/20167 |
identifier_str_mv |
Assis, José do Socorro. Análise do RAROC utilizando modelo DuPont dos bancos privados listados na BM&FBOVESPA de 2010 a 2015. 2017. 106 f. Dissertação (Mestrado em Administração) - Programa de Estudos Pós-Graduados em Administração, Pontifícia Universidade Católica de São Paulo, São Paulo, 2017. |
url |
https://tede2.pucsp.br/handle/handle/20167 |
dc.language.iso.fl_str_mv |
por |
language |
por |
dc.rights.driver.fl_str_mv |
info:eu-repo/semantics/openAccess |
eu_rights_str_mv |
openAccess |
dc.format.none.fl_str_mv |
application/pdf |
dc.publisher.none.fl_str_mv |
Pontifícia Universidade Católica de São Paulo |
dc.publisher.program.fl_str_mv |
Programa de Estudos Pós-Graduados em Administração |
dc.publisher.initials.fl_str_mv |
PUC-SP |
dc.publisher.country.fl_str_mv |
Brasil |
dc.publisher.department.fl_str_mv |
Faculdade de Economia, Administração, Contábeis e Atuariais |
publisher.none.fl_str_mv |
Pontifícia Universidade Católica de São Paulo |
dc.source.none.fl_str_mv |
reponame:Biblioteca Digital de Teses e Dissertações da PUC_SP instname:Pontifícia Universidade Católica de São Paulo (PUC-SP) instacron:PUC_SP |
instname_str |
Pontifícia Universidade Católica de São Paulo (PUC-SP) |
instacron_str |
PUC_SP |
institution |
PUC_SP |
reponame_str |
Biblioteca Digital de Teses e Dissertações da PUC_SP |
collection |
Biblioteca Digital de Teses e Dissertações da PUC_SP |
bitstream.url.fl_str_mv |
https://repositorio.pucsp.br/xmlui/bitstream/handle/20167/4/Jos%c3%a9%20do%20Socorro%20Assis.pdf.txt https://repositorio.pucsp.br/xmlui/bitstream/handle/20167/1/license.txt https://repositorio.pucsp.br/xmlui/bitstream/handle/20167/2/Jos%c3%a9%20do%20Socorro%20Assis.pdf https://repositorio.pucsp.br/xmlui/bitstream/handle/20167/3/Jos%c3%a9%20do%20Socorro%20Assis.pdf.jpg |
bitstream.checksum.fl_str_mv |
af9109790e3dfb2731d305e913f577a1 bd3efa91386c1718a7f26a329fdcb468 4e2868869711e770d5f230644639437d cc73c4c239a4c332d642ba1e7c7a9fb2 |
bitstream.checksumAlgorithm.fl_str_mv |
MD5 MD5 MD5 MD5 |
repository.name.fl_str_mv |
Biblioteca Digital de Teses e Dissertações da PUC_SP - Pontifícia Universidade Católica de São Paulo (PUC-SP) |
repository.mail.fl_str_mv |
bngkatende@pucsp.br||rapassi@pucsp.br |
_version_ |
1809277914578944000 |