Performance of traditional cooperatives: the Portuguese Douro wine cooperatives

Joao Rebelo, Jose Vaz Caldas and Scott C. Matulich

Economia Agraria y Recursos Naturales, 2010, vol. 10, issue 02, 16

Abstract: Globalization is challenging the very core of cooperative governance and ownership decision, especially in Southern European countries, like Portugal, where a large number of producers are organized in traditional and Mediterranean-style agricultural cooperatives. This paper analyses the effects of governance and control variables related with size over two alternative indicators of performance: revenues transferred to members/patrons and capital structure. The results suggest that these cooperatives have difficulties being sustainable in the more competitive global wine markets, if they follow, essentially, a practice of maximum patronage refund, reducing their capacity to improve leverage and to finance more profitable, but risky, long run investments.

Keywords: Agribusiness; Agricultural and Food Policy; Crop Production/Industries (search for similar items in EconPapers)
Date: 2010
References: View complete reference list from CitEc
Citations: View citations in EconPapers (3)

Downloads: (external link)
https://ageconsearch.umn.edu/record/99100/files/07 ... o_01%20Blandford.pdf (application/pdf)

Related works:
This item may be available elsewhere in EconPapers: Search for items with the same title.

Export reference: BibTeX RIS (EndNote, ProCite, RefMan) HTML/Text

Persistent link: https://EconPapers.repec.org/RePEc:ags:earnsa:99100

DOI: 10.22004/ag.econ.99100

Access Statistics for this article

More articles in Economia Agraria y Recursos Naturales from Spanish Association of Agricultural Economists Contact information at EDIRC.
Bibliographic data for series maintained by AgEcon Search ().