PRÁTICAS RACIONAIS E/OU COMPORTAMENTAIS NAS DECISÕES DE INVESTIMENTO DE LONGO PRAZO NAS COOPERATIVAS AGROPECUÁRIAS DO PARANÁ

Abstract

The agricultural cooperatives in Paraná have a strong representation on the economy in this state, long-term investments are constantly developed even in an unfavorable economic scenario. Therefore, the objective of this study was to analyze the factors that influence the decisions of long-term investments of the agricultural cooperatives of Paraná, in order to identify rational, behavioral factors and the use of capital budget techniques at the time of the decision to carry out from the project. With regard to the methodological aspect, the quantitative approach was used and through the descriptive analysis it was possible to identify the main influential aspects of the investment decision process of the cooperatives. Considering the results found, the profile of cooperatives and survey respondents was identified, which allowed a better understanding of the influencing aspects. It was verified that cooperatives use capital budgeting, techniques; however, not all investments are subject to the same rigorous criteria, external factors that may influence investments such as economics, environment and risks are sought at the time of investment decision, however they are not always considered when performed. It was observed that behavioral factors also, since factors such as power, culture and internal environment have influence in the decision which limits the use of rational techniques and practices for all the investments of the cooperatives. In this way it was verified that the rational factors are predominant when the decision is made to realize the long term investment considering the use of the techniques of capital budget and rational factors predominant in the decision, will be influenced by behavioral factors that will at some moment ignore the rational factors for choosing the best long-term investment decision.