This article addresses three observations regarding the board of directors in agricultural cooperatives. First, many scholars and practitioners worry about the competency of the member dominated board of directors in agricultural cooperatives. Second, it is sometimes stated that cooperatives...

The vertical organization of production entails a range of make-or-buy decisions of intermediate goods that are influenced by the difficulty of writing contracts with a potential supplier. When contracting causes high transaction costs, a firm can decide to vertically integrate the production of...