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Title: The Maltese central co-operative fund and its financing of co-operatives : an analysis
Authors: Baldacchino, Peter J.
Cini, Anna Marie
Tabone, Norbert
Grima, Simon
Keywords: Cooperative societies -- Malta
Cooperative societies -- Finance
Cooperative societies -- Accounting
Financial institutions -- Malta
Cooperative societies -- Law and legislation -- Malta
Issue Date: 2022-04
Publisher: Ahmet Gökgöz
Citation: Baldacchino, P. J., Cini, A. M., Tabone, N., & Grima, S. (2022). The Maltese central co-operative fund and its financing of co-operatives : an analysis. Journal of Accounting, Finance and Auditing Studies, 8(2), 1-35.
Abstract: PURPOSE: (i) to ascertain and analyze the funding of the Central Cooperative Fund (CCF); (ii) to assess whether the CCF has achieved its intended role of utilizing its funds optimally and why, or why not, this is so, and (iii) to evaluate and recommend ways on how the role of the CCF may be improved.
METHODOLOGY: The study made use of a mixed-methods research methodology. Semi-structured interviews were conducted with four CCF representatives, seven co-operative experts and nine cooperative representatives. These were followed by a review of the financial statements of the CCF for the period 2012-2019.
FINDINGS: The findings indicate that over the years, the CCF has managed to accumulate a substantial amount of funds. The financing role of the CCF is essential for the co-operative movement in Malta. Despite the numerous financial difficulties faced by Maltese cooperatives, the use of CCF financing by co-operatives as against other non-CCF financing has been relatively poor. The study concludes that the Maltese CCF is adequately funded via the 5% annual cooperative contributions. With respect to its utilization of funds, the CCF has clearly not achieved this objective optimally in that it has not played its expected role in the financing of Maltese co-operatives. The study concludes that the CCF has potential for a much-increased role than it has at present in assisting co-operatives in their financing requirements.
ORIGINALITY/VALUE: This study is meant to raise public sector awareness on the need to improve Maltese CCF practices with respect to their definability, formulation and monitoring. It is hoped that the recommendations of this study support the competent authorities in addressing the identified existing deficiencies, thus enabling them to enhance CCFs and render them improved vehicles for sector development. Ultimately, an improved CCF would aid in the financing difficulties faced by Maltese co-operatives. This, in turn, would support the growth and development of the Maltese cooperative movement.
Appears in Collections:Journal of Accounting, Finance and Auditing Studies, Volume 8, Issue 2

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