Eficiência financeira e operacional em cooperativas participantes do Programa de Capitalização de Cooperativas Agropecuárias (PROCAP-AGRO)

Abstract

The objective of this study was to analyze the efficiency of a sample of organizations participating in the Agricultural Cooperatives Capitalization Program (PROCAP-AGRO), government program instituted with the objective of promoting the restructuring of the patrimony of individual and central cooperatives exclusively acting in agricultural, livestock, agroindustry, aquaculture or fishery production. The study was based on the conceptual foundations of property rights and financial constraints in cooperative organizations, considering a sample of forty production units spread throughout the Brazilian territory, and divided into two groups. The efficiency was measured by means of the data envelopment analysis, observing variations in the technical efficiency of the cooperatives, comparing them before and after the obtaining of resources. By using the econometric model of censored samples (Tobit), we investigated whether the PROCAP-AGRO was linked to the variations in efficiency of these organizations. The results indicate improvements after instituting PROCAP-AGRO, with distinct effects over the technical efficiency of the cooperatives as a result of the diverse use of program resources. We concluded that adjustments in the program are necessary for a better use of the resources obtained by the cooperatives.