Financial Instruments and Conflicts of Interest: Application to French Agricultural Co-operatives

Francis Declerck

No 206242, 2015 International European Forum (144th EAAE Seminar), February 9-13, 2015, Innsbruck-Igls, Austria from International European Forum on System Dynamics and Innovation in Food Networks

Abstract: To finance their growth and value creation, agricultural co-operatives have at their disposal several financial instruments: equity, quasi-equity or debt. Many of these instruments are particularly innovative and have been designed specifically for co-operatives. In France, only recently have some co-operatives expanded their types of financing to include external funders through the issue of OTC- or publicly-traded securities. Agricultural co-operatives' governance and economic projects are often misunderstood by external financial investors. The risk of conflicts of interest plays a role in these misunderstandings in the way retained earnings, returns to agricultural products brought by co-op member and returns to equity capital. Such risks are identified and answers are proposed.

Keywords: Agribusiness (search for similar items in EconPapers)
Pages: 12
Date: 2015-05
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Persistent link: https://EconPapers.repec.org/RePEc:ags:iefi15:206242

DOI: 10.22004/ag.econ.206242

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