Creation of shared value in cooperatives: informal institutions’ perspective of small-sized banana growers from Colombia


  • Marcela Maestre Matos Universidad del Magdalena, Santa Marta, Colombia
  • Jahir Lombana-Coy Business School, Universidad del Norte, Barranquilla, Colombia
  • Francisco J. Mesias Department of Economics, University of Extremadura, Badajoz, Spain


Shared value, Informal institutions, Bottom of the pyramid



This study aims to identify informal institutions for bottom-of-the-pyramid (BoP) business models in the agricultural sector through the case study of banana growers’ cooperatives.


A case study of six banana cooperatives from Colombia was conducted. The research followed a mixed design, using both qualitative and quantitative data and the application of structural equations.


This study shows that social capital, networking and alliances are essential in BoP businesses.


Authors defined a model of informal institutional factors for the generation of economic and social value in inclusive business, using the new institutional theory and the conceptual development of BoP in agri-business.



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How to Cite

Maestre Matos, M., Lombana-Coy, J., & Mesias, F. J. (2023). Creation of shared value in cooperatives: informal institutions’ perspective of small-sized banana growers from Colombia. Journal of Economics, Finance and Administrative Science, 28(55), 134–159. Retrieved from



Special section: Business Economics from Iberoamerica - Part 1