000232667 001__ 232667
000232667 005__ 20180123003605.0
000232667 037__ $$a887-2016-64999
000232667 041__ $$aen_US
000232667 245__ $$aPerformance of U.S. Agricultural Cooperatives: Size and Industry Effects
000232667 260__ $$c1990
000232667 269__ $$a1990
000232667 300__ $$a30
000232667 336__ $$aWorking or Discussion Paper
000232667 490__ $$aWorking Paper
000232667 490__ $$a9001
000232667 520__ $$aThe objective of this study is to determine if there are important size and industry effects on financial performance of agricultural cooperatives. The performance of 43 dairy, food, grain, and farm supply cooperatives in the US was analyzed over the period 1970-1987 using financial ratios derived from accounting data. The analysis revealed significant size and industry effects. Large regional cooperatives are more efficient in utilizing their assets to generate sales, while small regional cooperatives have higher profitability.
The findings suggest that the emphasis on growth may not always produce beneficial results among agricultural cooperatives. Among the four industries studied, the dairy regional cooperatives appear to be the strongest performers, while the food marketing cooperatives lowest performance measures. Since both dairy and food cooperatives engage in are characterized by the value-added processing, this difference in performance makes it difficult to reach clear conclusions about possible advantages of disadvantages of vertical integration relative to traditional cooperative activities. Trend analysis indicates that the profitability of the agricultural cooperatives in all industry and size categories declined in response to the downturn in US agriculture after 1980. While the decline in profitability was at similar rates for both large and small cooperatives, the variation of efficiency and leverage was in opposite directions. Large cooperatives may be expected to continue improving their asset utilization without relative improvement in profitability, and increasing the level of their debt in relation to equity.
000232667 542__ $$fLicense granted by Deanna Kanne (kanne053@umn.edu) on 2016-03-09T16:15:33Z (GMT):

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000232667 650__ $$aAgribusiness
000232667 700__ $$aLerman, Zvi
000232667 700__ $$aParliament, Claudia
000232667 8564_ $$s6285709$$uhttp://ageconsearch.umn.edu/record/232667/files/hebrewuniv-workingpapers-9001.pdf
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  Previous issue date: 1990
000232667 982__ $$gHebrew University of Jerusalem>Center for Agricultural Economic Research>Working Papers
000232667 980__ $$a887