PERFORMANCE OF COOPERATIVES AND INVESTOR OWNED FIRMS IN THE DAIRY INDUSTRY

Claudia Parliament, Zvi Lerman () and Joan Fulton

No 14245, Staff Papers from University of Minnesota, Department of Applied Economics

Abstract: A comparison of regional dairy cooperatives with investor owned dairy firms for the period 1976-1987 produced empirical findings that are at variance with the hypotheses suggested by the theory of cooperatives. The cooperatives in the sample performed significantly better than the IOFs when compared by leverage, asset turnover, and coverage ratios, while the rate of return to equity was not found to be significantly different. Techniques are also proposed for valuing the nonmarket aspects of cooperatives that are not captured by financial ratio analysis.

Keywords: Agribusiness; Livestock Production/Industries (search for similar items in EconPapers)
Pages: 16
Date: 1989
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Citations: View citations in EconPapers (2)

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Related works:
Journal Article: Performance of Cooperatives and Investor-Owned Firms in the Dairy Industry (1990)
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Persistent link: https://EconPapers.repec.org/RePEc:ags:umaesp:14245

DOI: 10.22004/ag.econ.14245

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