Heterogeneity of associates, capital structure and profitability of non-financial cooperatives in Colombia

被引：0
|
作者：
Hernandez Salazar, Giovanni Andres [1 ,2 ]
机构：
[1] Univ Sabana, Gerencia Invers, Chia, Colombia
[2] Univ Andes, Adm, Bogota, Colombia
来源：
CUADERNOS DE ECONOMIA | 2020年 / 39卷 / 79期
关键词：
cooperatives; capital structure; profitability; member's Heterogeneity; AGRICULTURAL COOPERATIVES; CORPORATE; PARTICIPATION; DETERMINANTS; BEHAVIOR;
D O I：
10.15446/cuad.econ.v39n79.77290
中图分类号：
F [经济];
学科分类号：
02 ;
摘要：
This research aims to study the relationship between the member's heterogeneity and capital structure and profitability in cooperative organizations. The database was built with 199 Colombian non-financial cooperatives between 2009-2013. The main finding is that variations in the socio-economic heterogeneity of associates affect long-term capital structure by 23%, short-term capital structure by 13% and profitability by 6%. It is concluded that the principle of people' free entry and exit from organizations with collective property and democratic governance affects the organization's financial indicators.
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页码：1 / 30
页数：30
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