Relação entre governança corporativa e eficiência no setor bancário brasileiro

Abstract

The present work have analyzed the existence or not of relationship between the levels of corporate governance, stipulated by São Paulo Stock Exchange, with efficiency of the banks with shares negotiated at Brazilian stock market, during the periods from 2009 to 2011. The calculation of the efficiency was accomplished by data envelopment analysis (DEA), using the models BCC and CRR, both with orientation to the inputs and to the outputs, in that way were calculated the standard, inverted, normalized and composite efficiency. The data used for the calculations were obtained through the databases of Central Bank of Brazil and São Paulo Stock Exchange. After the calculations were finished, it was made a ranking of decreasing order of efficiency and calculated an average of efficiency for the banks that have corporate governance and for the ones that don't. The results demonstrate that certain relationship degree exists between corporate of governance and efficiency in Brazilian banking sector, although this efficiency is relative.