@article{Rebelo:99100,
      recid = {99100},
      author = {Rebelo, Joao and Caldas, Jose Vaz and Matulich, Scott C.},
      title = {Performance of traditional cooperatives: the Portuguese  Douro wine cooperatives},
      journal = {Economia Agraria y Recursos Naturales},
      address = {2010-12},
      number = {1380-2016-115434},
      pages = {16},
      year = {2010},
      abstract = {Globalization is challenging the very core of cooperative  governance and ownership decision, especially in Southern  European countries, like Portugal, where a large number of  producers are organized in traditional and  Mediterranean-style agricultural cooperatives. This paper  analyses the effects of governance and control variables  related with size over two alternative indicators of  performance: revenues transferred to members/patrons and  capital structure. The results suggest that these  cooperatives have difficulties being sustainable in the  more competitive global wine markets, if they follow,  essentially,
a practice of maximum patronage refund,  reducing their capacity to improve leverage and to finance  more profitable, but risky, long run investments.},
      url = {http://ageconsearch.umn.edu/record/99100},
      doi = {https://doi.org/10.22004/ag.econ.99100},
}