Though horizon and portfolio problems are commonly thought to limit cooperatives' ability to capitalize on investment opportunities, empirical inquiry into the existence of these constraints is sparse, and recent conceptual arguments suggest that the horizon problem in particular may be less...

Since the 1990s, producers of farm commodities have been attempting to enter value-added agri-food sectors by means of joint ownership of hybrid cooperatives. New generation cooperatives, characterized by substantial supply and equity requirements, inspired much farm producer optimism before...