Determinantes do spread de instituições financeiras cooperativas e bancos comerciais no Brasil.

Purpose: This study aims to analyze the factors that determine the spread of credit unions and commercial banks, in order to identify signs of competitive advantage between cooperatives and banks. Methodology: Create a sample of longitudinal data, use the fixed effects model for data on the panel in order to observe various instructions in various periods of time, allowing for evidence of varied cross section in different periods of time. A sample consisted of semi-annual balance sheets, according to the accounting plan structure of the institutions of the national financial system - COSIF, available in the database of the Central Bank of Brazil - Ifdata, in the period from 2010 to 2017. Results: The results pointed to the spreads of the credit unions were smaller than the spreads of the commercial banks during the analyzed period, it was not identified a directly proportional relation between the attributes and the spreads, the fact that the cooperatives do not aim at the profits may have impact on the composition of its spreads, however, a tax exemption did not influence the generation of results. Contributions of the Study: This work contributes to the scientific community by analyzing the determinants of propagation for financial cooperatives, since few studies were found in the literature that it contemplated as cooperatives in its method. Comparisons were made with commercial banks and in this way we seek to identify factors that may or may not use the competitive advantages between these financial institutions. [ABSTRACT FROM AUTHOR]