Relato Integrado e Religião? Uma análise da relação entre a Divulgação do Relato Integrado e o Desempenho de Bancos Islâmicos
DOI:
https://doi.org/10.9771/rcufba.v16i1.48400Keywords:
Relato Integrado, Bancos Islâmicos, Conselho de Cooperação do GolfoAbstract
Nos países do Conselho de Cooperação do Golfo (CCG), o conceito de Relato Integrado (RI) atraiu considerável atenção dos bancos islâmicos, apesar de não ser de observância obrigatória. Este estudo tem como objetivo examinar a relação entre divulgação do RI, ainda que voluntária, e o desempenho financeiro, operacional e de mercado em bancos islâmicos e convencionais. Para tanto, foram examinados cinco anos (2015-2019) de RI de 64 bancos em países do CCG, contando com 415 observações. Foi desenvolvido o Índice de divulgação do Relato Integrado (IRI), como variável independente, e regredido separadamente contra três indicadores de desempenho [retorno sobre ativos, retorno sobre o patrimônio líquido e Q de Tobin (QT)] como variáveis dependentes. Além disso, foram inseridas duas variáveis de controle nas equações de regressão: macroeconômicas (dois indicadores) e características do banco (três indicadores). As conclusões extraídas dos resultados empíricos demonstram que, por um lado, o RI em bancos convencionais afeta positivamente o desempenho do mercado, enquanto afeta negativamente o desempenho operacional e financeiro. Por outro lado, os resultados para os bancos islâmicos indicam que o RI afeta negativamente o desempenho do mercado, sem efeito perceptível no desempenho financeiro e operacional. No setor bancário do CCG, para a maioria, os resultados empíricos entram em conflito com as expectativas implícitas na Teoria da Sinalização e na Teoria da Necessidade de Capital. A partir deste estudo, as evidências encontradas, sugerem que o desempenho do banco do CCG não melhoraria se a divulgação de RI se tornasse obrigatória. No entanto, essa conclusão é mais forte com relação aos bancos islâmicos do que com relação aos bancos convencionais da região. O estudo fornece insights sobre o efeito da divulgação voluntária de RI, medida por várias variáveis de desempenho em bancos islâmicos e convencionais localizados nos países do CCG, bem como até que ponto o RI afeta o desempenho dos bancos.
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