Corporate governance: participation and representative in credit cooperatives in Brazil
DOI:
https://doi.org/10.11606/rco.v2i4.34724Keywords:
governance, financial cooperatives, participationAbstract
The article intends to analyze participation and representativeness factors as necessary elements for good governance practices in financial cooperatives. Characterized as the union of individuals with a common purpose, financial cooperatives require inclusion of arrangements ensuring participation and representativeness of their governance in order to grant legitimacy to managers in attaining the purposes sought by their members. Consequently, the forms of influencing the decision instances and management control assume a relevant role for such organizations. The article displays the result of an institutional survey, conducted by the Central Bank of Brazil, in both the universe of single financial cooperatives and a sample of their members in order to compile and understand the main governance practices. Answers provided by 1,199 financial cooperatives and 420 members were compared and analyzed vis-à-vis the participation arrangements of members and their representativeness in the financial cooperative direction and control. Based on these analyses, reflections and directions towards an improvement in financial cooperative governance are proposed.Downloads
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