Fatores que explicam o desempenho das cooperativas de crédito singulares presentes no Sul do Brasil

Antonio Maria da Silva Carpes; Willian Nascimento da Silva; Thiago Bruno de Jesus Silva; Yogo Kubiak Canquerino

doi:10.5585/2026.27051

Authors

Antonio Maria da Silva Carpes Federal University of Fronteira Sul (UFFS), Laranjeiras do Sul, Paraná, Brazil https://orcid.org/0000-0003-3656-6543
Willian Nascimento da Silva Federal University of Fronteira Sul (UFFS), Laranjeiras do Sul, Paraná, Brazil https://orcid.org/0009-0008-3270-8106
Thiago Bruno de Jesus Silva Federal University of Recôncavo da Bahia (UFRB), Cruz das Almas, Bahia, Brazil https://orcid.org/0000-0002-1128-6601
Yogo Kubiak Canquerino Federal University of Fronteira Sul (UFFS), Laranjeiras do Sul, Paraná, Brazil https://orcid.org/0000-0003-4796-5160

DOI:

https://doi.org/10.5585/2026.27051

Keywords:

credit unions, performance, panel data

Abstract

Objective: To investigate the factors that explain the performance of unique credit unions in southern Brazil from 2013 to 2021. Methodology/Approach: The research covered all credit unions headquartered in the southern region of Brazil, including a sample of 1,527 cooperatives. The study employed return on assets (ROA) and return on equity (ROE) as dependent variables. Economic, financial, and social variables were used as independent variables. The research is predominantly quantitative, conducted through a panel data regression with a fixed effects model. Originality/Relevance: The inclusion of the social variables "operation with members" and "personnel expenses," which were previously treated in the literature under the economic and financial dimensions. By bringing them to this perspective, the research innovates and contributes to the emerging literature on a social dimension. Main Results: The findings highlight financial variables such as operational efficiency and asset size as key indicators of performance. The GDP variable showed a positive relationship with the performance of credit unions, meaning that economic growth enhances the return on members' equity. Furthermore, the social variable "operation with members" showed a direct relationship with performance (ROA and ROE). Theoretical and Methodological Contributions: The study results reinforce the relationship between financial variables (EO and TAM) and economic variables (GDP) and performance. The social variable "operation with members" proved to be significant in relation to performance, consistent with the premises of the circular flow of income.

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Author Biographies

Antonio Maria da Silva Carpes, Federal University of Fronteira Sul (UFFS), Laranjeiras do Sul, Paraná, Brazil

PhD in Accounting and Administration from the Regional University of Blumenau Foundation. He is currently an Associate Professor at the Federal University of the Southern Frontier. His research focuses on corporate governance and controllership, as well as the scientific investigation of small and medium-sized enterprises. Outside academia, he has worked in the accounting of commercial and industrial companies, as well as agricultural cooperatives. He also serves as a speaker and facilitator in activities and topics related to governance and the management of collective enterprises (cooperatives) and small and medium-sized enterprises.

Willian Nascimento da Silva, Federal University of Fronteira Sul (UFFS), Laranjeiras do Sul, Paraná, Brazil

Graduated in Economics from the Federal University of the Southern Frontier (UFFS, 2023), with training in Econometrics and quantitative methods applied to Economics. Has experience in econometric modeling, time series analysis, and the handling of economic databases, using R and VBA. Works as a researcher in the Research Group on Economics, Management, and Popular Cooperativism (PEGECOPEN/UFFS), Laranjeiras do Sul Campus. Research interests include Econometrics, Consumer Theory, Monetary Policy, and Credit Cooperativism. Currently pursuing a specialization in Computational Statistics at the Federal University of Minas Gerais (UFMG) and works as an Economics and Statistics Analyst at the Brazilian Association of Machinery and Equipment Industry (ABIMAQ).

Thiago Bruno de Jesus Silva, Federal University of Recôncavo da Bahia (UFRB), Cruz das Almas, Bahia, Brazil

PhD, Master’s, and Bachelor’s degrees in Accounting. I am the author and co-author of more than 60 scientific articles published in national and international conferences and academic journals. Throughout my career, I have accumulated experience as an accountant, financial consultant, professor, researcher, and individual investor. I am currently a Professor in the Cooperative Management undergraduate program at the Federal University of the Recôncavo of Bahia (UFRB). I am also a Professor in the Master’s Program in Public Administration at the Federal University of Grande Dourados (UFGD).

Yogo Kubiak Canquerino, Federal University of Fronteira Sul (UFFS), Laranjeiras do Sul, Paraná, Brazil

Holds a Bachelor’s degree in Economic Sciences from the Federal University of the Southern Frontier (UFFS, 2014) and a Bachelor’s degree in Accounting Sciences from Centro Universitário Univel (2022). He also holds a specialization in Public Management from the State University of the Central-West (2018), a Master’s degree in Innovative Extension and Sustainable Rural Development from the State University of Western Paraná (2019), and is currently a PhD candidate in Regional Development and Agribusiness at the State University of Western Paraná.

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