Maher, Matthew; Emanuel, David - In: Pacific Accounting Review 17 (2005) 1, pp. 37-48
Fonterra Group Cooperative Limited, New Zealand’s largest company, is owned by the dairy farmers who supply milk. Each dairy farmer owns the same number of shares as the kilograms of milksolids supplied. Farmers therefore have an investment in Fonterra, and when a farm is purchased, there is a...