DETERMINANTS OF FINANCIAL PERFORMANCE IN SAVINGS AND CREDIT COOPERATIVES IN ECUADOR, 2015-2020
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Abstract
Financial markets are considered one of the determining factors of company performance, through project financing. Financial companies are affected by asymmetry of information, as well as by the evolution of the economic context. This is especially relevant for Ecuador, a country with a financial sector influenced by Cooperativas de Ahorro y Crédito (COACs). The economic context encourages COACs to be more conservative and carefully select the economic sectors to which resources are allocated. This study analyses the determinants of the financial performance of the COACs of Ecuador during the period 2015-2020. The results show that the profitability of the COACs is influenced by financial intermediation and the quality of assets (as internal variables) and by the technological relatedness of the sectors at the regional level.
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