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Heterogeneidad de los asociados y estructura de capital de las cooperativas no financieras en Colombia

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2020
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Facultad de Ciencias Económicas y Empresariales. Escuela de Estudios Cooperativos
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Esta investigación tiene como objetivo probar cuantitativamente la relación positiva y significativa entre la heterogeneidad socio-económica y del compromiso de los asociados, con la estructura de deuda de la cooperativa. Con información socio-económica de los asociados y los estados financieros discriminados a 6 dígitos contables reportada a la Confederación de Cooperativas de Colombia (Confecoop) durante el periodo 2009-2013, se estimaron modelos de emparejamiento de inferencia causal. Se concluye que existe una relación positiva y significativa entre la heterogeneidad socio-económica y del compromiso de los asociados y, el nivel de deuda de corto y largo plazo de las cooperativas no financieras en Colombia. Estos resultados se explican fundamentalmente por el deseo del asociado de proteger su patrimonio, suavizar el consumo y mitigar el riesgo.
This research aims to quantitatively prove the existence of a positive and significant relationship between the socio-economic diversity and the heterogeneity of the commitment of the associates with the debt structure of the cooperative. Socio-economic information of the associates and the financial statements discriminated to 6 accounting digits reported to the Confederation of Cooperatives of Colombia (Confecoop) during the 2009-2013 period, models of causal inference pairing were estimated. It is concluded that there is a positive and significant relationship between the socio-economic heterogeneity of the associates and the level of short and long-term debt of non-financial cooperatives in Colombia. These results are mainly explained by the associates’ desire to protect assets, soften consumption and mitigate risk.
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