This paper investigates income diversification in credit unions in Ghana. We make use of the random effect, Hausman–Taylor, and fractional regression to assess income diversification. We find empirical support that there exist differences between workplace credit union income diversification and other types of credit union. We also find that within nonfinancial income, size, liquidity, loan portfolio, net worth, and economic growth are important. For within liquid financial investment diversification, size, liquidity, resource usage, age, net interest margin, bank concentration, inflation, and economic growth matter. We recommend that with excess reserves, credit unions should pursue liquid financial investment.

中文翻译：

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信用合作社收入多元化的驱动因素：规模、资源、流动性和环境是否重要？

本文调查了加纳信用合作社的收入多元化。我们利用随机效应、Hausman-Taylor 和分数回归来评估收入多元化。我们发现工作场所信用合作社收入多元化与其他类型信用合作社之间存在差异的实证支持。我们还发现，在非金融收入中，规模、流动性、贷款组合、净值和经济增长都很重要。对于流动性金融投资多元化而言，规模、流动性、资源使用、年龄、净息差、银行集中度、通货膨胀和经济增长都很重要。我们建议在超额准备金的情况下，信用合作社应该寻求流动性金融投资。