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The researcher of the Chair Cajamar-UPCT Maria del Carmen Martínez Victoria defends in the thesis with which she has obtained a doctorate in the Polytechnic University of Cartagena that the financial behavior of the agro-alimentary cooperatives is similar to the other companies of the sector.

"The differences in their management do not make them less competitive," says the exalumna of the Faculty of Business Sciences.

The thesis has evaluated the financial behavior of 250 agro-food cooperatives throughout Spain, analyzing dynamically their indebtedness, profitability and liquidity in the period 2009-2014.

"Its good competitive position contrasts with what academic literature has traditionally suggested," says Mariluz Maté Sánchez-Val of the Economic Modeling & Non-Parametric Statistics (EMODs) group, which has led the research with Narciso Arcas Lario.

"Cooperatives have more limitations on borrowing and more incentives to adjust profitability ratios due to the pressure of their partners, but the particularities of their management do not make them less competitive," explains Maté.

Researchers have also corroborated that the proximity effect makes the productivity of cooperatives influenced by their geographical context, in addition to favoring their interactions.

"We have proven that cooperatives that form alliances with others benefit from these relationships by increasing their productivity," says the author of the thesis, recommending "to encourage alliances between cooperative companies to strengthen their operation in the market."

María del Carmen Martínez Victoria is part of the Cajamar Chair of Agri-food Cooperativism directed by Professor Arcas Lario.

The new doctor, graduated in ADE and Master in Accounting and Corporate Finance (COFIC) by the UPCT, has completed her research training with a stay at the University of Wageningen, the most prestigious in the Netherlands and world leader in Agricultural Economics.

Source: UPCT