Managers’ perceptions of human and financial capital and their association with perceived cooperative success

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This study examines the associations between cooperative managers’ perceptions of human capital, financial capital, and Perceived cooperative success in an emerging economy context. A quantitative, cross-sectional, associational design was employed. Data were collected from 88 cooperative managers using a structured questionnaire measuring perceptions of human capital, financial capital, and Perceived cooperative success. Multiple linear regression and descriptive analysis were used. All measures are perceptual and reflect managerial subjective assessments, not objective financial indicators. Findings are associational, not causal. Descriptive results reveal that leadership and management effectiveness are perceived as strengths, while technical competencies remain moderate. Perceived liquidity and financing structure are healthy, yet many managers perceive asset size and adequacy as low, indicating a perceived capital gap. Perceived social vitality is high, but perceived member surplus (SHU) is low, revealing a perceived dissonance between social and economic performance. Regression analysis indicates that perceived human capital (β = 0.426, p < 0.01) and perceived financial capital (β = 0.387, p < 0.01) are positively associated with perceived cooperative success. The findings reflect managerial beliefs and perceptions, which may differ from objective cooperative performance. Future research should triangulate these perceptions with audited financial reports and member-based surveys.

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