Reynier Limonta Montero is a Professor of Business law and International at Oriente University Law School and an associate lawyer specialized in tax matters to Cuban National Lawyer Association. He holds a PhD in juridical sciences from the University of Havana in Cuba. His research interests include: financial law, economic law and legal theory for economists.
The governance of co-operative banks since its creation has meant another side of the typical behavior of banks. The main aims of co-operative banks are substantially different in order to methods and practices. This premise could be understanding from ethical point of view but is not always understood in the field of finances & business and that can be established such as a kind of weakness from these entrepreneurships but in our opinion this is the most outstanding characteristic of this figure. In fact, it make possible, their adaptation to several contexts including market niches impossible to access for large banks and financial institutions. In order to that conviction, this paper have as principal aim develop our theoretical propose on modulation of selective incentive in the governance of co-operative banks and its influence in the efficiency in the case of Participatory loan as an important tool in co-operative governance. Often, there is a gap in the theoretical studies of this figure, Co-operative banks, what brings as a subsequently its tools of governance are hidden under several instruments of governance of SME related with solidary economy. Moreover, recently, the study of CME as specific figure inside SME category directed to stand out the mutual component is an important element in order to clarify our aim in this paper. As Mazzaroll and others has said “the CME is a hybrid that can fill the gaps between state-owned enterprise, not for profit social enterprise and for profit”. The mutual component is an important basis of participatory loan and consequently of co-operative governance. That is the reason because of our analysis put its vertex between the epistemic tetrahedron that represent the relation co-operative banks-governance-mutual component-participatory loan.