Credit Cooperativism: an analysis of interest rate formation

Authors

DOI:

https://doi.org/10.5902/2359043287673

Keywords:

Credit cooperatives, Interest rates, Agency theory

Abstract

An important characteristic of credit unions is that their corporate structure can oppose the interests of borrowers and lenders. Like this. The objective of this work is to analyze the formation of interest rates practiced by credit unions from a theoretical interpretation based on the agency problem. In this theoretical approach, the owner's interests are not necessarily the same as those of the agent, and, therefore, examining this relationship is a viable and timely theoretical path towards better understanding the definition of interest within the scope of credit cooperatives. In the methodology, secondary data on interest rates were collected and compared with analysis of semi-structured interviews. The results show that the determinants of the interest rate are diverse (external, such as the SELIC rate, or internal, such as the costs incurred by cooperatives). Furthermore, there is a strong tendency towards a reduction in the banking spread. In general, the interest rates charged in cooperatives are lower than those of commercial banks, and although it is possible to identify relationships with potential agency problems, the methodology did not identify the occurrence of these phenomena.

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Author Biographies

Eduarda Pinto Scasso, Universidade Federal do Pampa

Economist graduated from the Federal University of Pampa - UNIPAMPA

Mauro Barcellos Sopeña, Universidade Federal do Pampa

Graduated in Economic Sciences from UCPel (1995). Master in Development Planning from UFPA (1997). PhD in Rural Extension and Development from UFSM (2016). Associate Professor at the Federal University of Pampa (UNIPAMPA). Areas of interest: Agro-industrial Contracts, Rural Economy and Organizational Economy.

André da Silva Redivo, Universidade Federal do Pampa

Adjunct Professor of the Economic Sciences Course at the Federal University of Pampa (Unipampa), Santana do Livramento campus. PhD in Development Economics from the Postgraduate Program in Economics at the Federal University of Rio Grande do Sul (PPGE/UFRGS), with a master's degree in Economics from the Postgraduate Program in Economics at the Federal University of Santa Catarina (PPGECO/UFSC) and a degree in Economic Sciences from the Federal University of Santa Catarina (UFSC). He worked as an Economist at the Santa Catarina Information Technology and Automation Center (CIASC) and at Companhia Catarinense de Águas e Saneamento (CASAN).

Debora Nayar Hoff, Universidade Federal do Pampa

He has a degree in Economic Sciences from the University of Planalto Catarinense (1994), a master's degree in Industrial Economics from the Federal University of Santa Catarina (2000) and a doctorate in Agribusiness from the Center for Studies and Research in Agribusiness at the Federal University of Rio Grande do Sul (2008) . He has experience in the area of ​​Economics, with an emphasis on Industrial Organization and Industrial Studies, working mainly on the following topics: organizations and regional development and organizations and sustainable development. In this last topic, he has been developing research on eco-innovations, industrial ecosystems and the firm's ecological economy. In addition to these, he works with research on the following topics: complexity, interdisciplinarity, epistemologies and research methods. They have experience in university management activities, including: strategic planning, preparation of course projects and course recognition, development of standards and procedures linked to university life, mainly in the area of ​​undergraduate and postgraduate teaching in the broad and strict sense. She participated in research teams in projects that received funding from CNPq, FAPESC and FINEP, researching about agribusiness in the Serra Catarinense region (where she worked as a research professor from 1995 to 2008), about rural economy and agribusiness in the Mineiro triangle region (where worked as a research professor from 2010 to 2014) and on Eco-Innovations. Since 2014, she has been a research professor at the Federal University of Pampa, Unipampa, Campus Sant'Ana do Livramento, where she works as an undergraduate and Stricto Sensu Postgraduate student.

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Published

2024-12-17

How to Cite

Scasso, E. P., Sopeña, M. B., Redivo, A. da S., & Hoff, D. N. (2024). Credit Cooperativism: an analysis of interest rate formation. Revista De Gestão E Organizações Cooperativas, 11(22), e87673. https://doi.org/10.5902/2359043287673

Issue

Vol. 11 No. 22 (2024)

Section

Economia, Finanças e Contabilidade

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