Equity Capital and Restructuring of Cooperatives as Investor-Oriented Firms

Lee F. Schrader

Journal of Agricultural Cooperation, 1989, vol. 04, 13

Abstract: The inability of financially successful cooperatives to recognize appreciation of patron’s equity creates a dilemma for cooperative members. The value of an enterprise as an investor-oriented firm may exceed the value of patron’s participation in a limited patronage horizon. This difference has been a factor in the decision of several cooperatives to restructure wholly or partially as investor-oriented firms. Reasons for valuation differences are discussed and related to six cases of cooperative restructuring.

Keywords: Agribusiness (search for similar items in EconPapers)
Date: 1989
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Persistent link: https://EconPapers.repec.org/RePEc:ags:joagco:46219

DOI: 10.22004/ag.econ.46219

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