Professor Regis A. Ely publica novo artigo – “The effects of capital buffers on profitability: an empirical study”

O prof. Regis A. Ely, em conjunto com co-autores da UnB, Universidade Católica de Brasília e da London School of Economics, publicou o artigo “The effects of capital buffers on profitability: An empirical study” na Economics Bulletin. Seu acesso ao mesmo pode ser feito aqui.

Eis o resumo:

This paper measures the effect of capital buffers and other determinants on banks’ profitability in 51 countries during the period of 2000 to 2012. We have found a nonlinear relationship between return on assets and capital buffers. While capital buffers have a positive impact on profitability, its excess can diminish banks’ profits. Countries with noncompetitive markets do not seem to change this relationship, although higher market power enhances profits. We also examine other determinants of profitability. Since minimal requirements of equity capital are one of the main regulatory instruments for preventing financial risks, we hope that the results of this letter can help financial authorities to also understand the effects of capital buffers on profits.