In this paper, we address the issue of financial constraints in agricultural cooperatives. We estimate an augmented Q investment model for a large sample of US agricultural cooperatives and test whether cooperative investment is sensitive to cash flow. Empirical results suggest that agricultural...

This paper examines agricultural cooperative organizational models from an ownership rights perspective. Building upon property rights and incomplete contracts theories of the firm, the paper adopts a definition of ownership rights comprising both residual claim and control rights. We argue that...

It is commonly argued in the literature that agricultural cooperatives are financially constrained because they are unable to acquire sufficient risk capital to invest in productive assets. This study examines whether agricultural cooperatives' investment is constrained by estimating...

This paper examines new agricultural cooperative organizational models from an ownership rights perspective. We argue that new cooperative organizational models differ in the way ownership rights are assigned to the economic agents tied contractually to the firm � members, patrons, and...

Change in trade barriers and capital flow creates opportunities for redesigning the food chain. The orange juice chain in U.S. and Brazil provides an interesting illustration of how institutional harmonization, high import tariff rates and complementary capabilities open new opportunities for...

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This study analyzes vertical-coordination practices in the U.S. beef supply chain focusing on strategic alliances. We present results from a survey of beef alliances describing their organizational structure, the nature of participantsÂ’' involvement, contractual requirements,...

This paper compares investment behavior of agricultural cooperatives and publicly traded firms in the food industry. The importance of financial constraints is examined by exploring whether ownership structure affects investment sensitivity to cash flow using a panel data approach based on the...