IDEAS home Printed from https://ideas.repec.org/a/ags/ijofsd/232478.html
   My bibliography  Save this article

Financial Instruments and Conflicts of Interest: Application to French Agricultural Co-operatives

Author

Listed:
  • Declerck, Francis

Abstract

To finance their growth and value creation, agricultural co-operatives have at their disposal several financial instruments: equity, quasi-equity or debt. Many of these instruments are particularly innovative and have been designed specifically for co-operatives. In France, only recently have some co-operatives expanded their types of financing to include external funders through the issue of OTC- or publicly-traded securities. Agricultural co-operatives' governance and economic projects are often misunderstood by external financial investors. The risk of conflicts of interest plays a role in these misunderstandings in the way retained earnings, returns to agricultural products brought by co-op member and returns to equity capital. Such risks are identified and answers are proposed.

Suggested Citation

  • Declerck, Francis, 2015. "Financial Instruments and Conflicts of Interest: Application to French Agricultural Co-operatives," International Journal on Food System Dynamics, International Center for Management, Communication, and Research, vol. 6(4), pages 1-13, December.
    • Handle: RePEc:ags:ijofsd:232478
    DOI: 10.22004/ag.econ.232478
    as

    Download full text from publisher

    File URL: https://ageconsearch.umn.edu/record/232478/files/1-Francis%20Declerck.pdf
    Download Restriction: no
    File URL: https://libkey.io/10.22004/ag.econ.232478?utm_source=ideas
    LibKey link: if access is restricted and if your library uses this service, LibKey will redirect you to where you can use your library subscription to access this item
    ---><---

    References listed on IDEAS

    as
    1. Maryline Filippi & P. Triboulet, 2008. "Formes de contrôle et alliances dans la coopération agricole," Post-Print hal-00388392, HAL.
    2. Fabio R. Chaddad & Michael L. Cook, 2004. "Understanding New Cooperative Models: An Ownership–Control Rights Typology," Review of Agricultural Economics, Agricultural and Applied Economics Association, vol. 26(3), pages 348-360.
    3. Maryline Filippi & Pierre Triboulet, 2011. "Alliances stratégiques et formes de contrôle dans les coopératives agricoles," Revue d'économie industrielle, De Boeck Université, vol. 0(1), pages 57-78.
    4. Dirk van der Krogt & Jerker Nilsson & Viggo Høst, 2007. "The impact of cooperatives' risk aversion and equity capital constraints on their inter-firm consolidation and collaboration strategies-with an empirical study of the European dairy industry," Agribusiness, John Wiley & Sons, Ltd., vol. 23(4), pages 453-472.
    Full references (including those not matched with items on IDEAS)

    Most related items

    These are the items that most often cite the same works as this one and are cited by the same works as this one.
    1. Jasper GRASHUIS & Ye SU, 2019. "A Review Of The Empirical Literature On Farmer Cooperatives: Performance, Ownership And Governance, Finance, And Member Attitude," Annals of Public and Cooperative Economics, Wiley Blackwell, vol. 90(1), pages 77-102, March.
    2. Marie Dervillé & Andrea Fink-Kessler & Aurelie Trouvé & Ikram Abdouttalib & Jean-Pierre del Corso & Charilaos Kephaliacos & Caetano Luiz Beber & Geneviève N'Guyen, 2018. "Comment peut se construire la compétitivité des exploitations laitières aujourd’hui ?," Working Papers hal-02329036, HAL.
    3. Grashuis, Jasper & Cook, Michael, 2016. "Capital, Ownership, and Governance: Analyzing the Structure of U.S. Farmer Cooperatives," 2016 Annual Meeting, July 31-August 2, Boston, Massachusetts 235677, Agricultural and Applied Economics Association.
    4. Jos BIJMAN & Markus HANISCH, 2020. "Understanding the heterogeneity among agricultural cooperatives," CIRIEC Working Papers 2013, CIRIEC - Université de Liège.
    5. Declerck, Francis, 2015. "Financial Instruments and Conflicts of Interest: Application to French Agricultural Co-operatives," 2015 International European Forum (144th EAAE Seminar), February 9-13, 2015, Innsbruck-Igls, Austria 206242, International European Forum on System Dynamics and Innovation in Food Networks.
    6. George Hendrikse & Li Feng, 2013. "Interfirm cooperatives," Chapters, in: Anna Grandori (ed.), Handbook of Economic Organization, chapter 26, Edward Elgar Publishing.
    7. Salazar Idana & Galve Górriz Carmen, 2011. "Determinants of the Differences in the Downstream Vertical Integration and Efficiency Implications in Agricultural Cooperatives," The B.E. Journal of Economic Analysis & Policy, De Gruyter, vol. 11(1), pages 1-26, February.
    8. Juan Juliá-Igual & Elena Meliá-Martí & Gabriel García-Martinez, 2012. "Strategies developed by leading EU agrifood cooperatives in their growth models," Service Business, Springer;Pan-Pacific Business Association, vol. 6(1), pages 27-46, March.
    9. Valentinov, Vladislav & Iliopoulos, Constantine, 2012. "Property Rights Problems in Agricultural Cooperatives: A Heterodox Institutionalist Perspective," Journal of International Agricultural Trade and Development, Journal of International Agricultural Trade and Development, vol. 61(3).
    10. Hohler, J., 2018. "Reconstruction of empirical strategies using content analysis - an application to the dairy industry," 2018 Conference, July 28-August 2, 2018, Vancouver, British Columbia 277123, International Association of Agricultural Economists.
    11. MAREK HUDON & BENJAMIN HUYBRECHTS & Anaïs PÉRILLEUX & Marthe NYSSENS, 2017. "Understanding Cooperative Finance As A New Common," Annals of Public and Cooperative Economics, Wiley Blackwell, vol. 88(2), pages 155-177, June.
    12. Sagebiel, Julian & Müller, Jakob R. & Rommel, Jens, 2013. "Are Consumers Willing to Pay More for Electricity from Cooperatives? Results from an Online Choice Experiment in Germany," MPRA Paper 52385, University Library of Munich, Germany.
    13. Damien Rousselière, 2019. "A Flexible Approach to Age Dependence in Organizational Mortality: Comparing the Life Duration for Cooperative and Non-Cooperative Enterprises Using a Bayesian Generalized Additive Discrete Time Survi," Journal of Quantitative Economics, Springer;The Indian Econometric Society (TIES), vol. 17(4), pages 829-855, December.
    14. Hueth, Brent & Marcoul, Philippe, 2007. "The Cooperative Firm as Monitored Credit," Staff Paper Series 508, University of Wisconsin, Agricultural and Applied Economics.
    15. Berends, Jared & Rich, Karl M. & Kaitibie, Simeon & Lyne, Michael C., 2021. "Ex-ante evaluation of interventions to upgrade pork value chains in Southern Myanmar," Agricultural Systems, Elsevier, vol. 194(C).
    16. Chaddad, Fabio Ribas, 2006. "Investment Constraints in Agricultural Cooperatives: Theory, Evidence and Solutions," 44th Congress, July 23-27, 2006, Fortaleza, Ceará, Brazil 143259, Sociedade Brasileira de Economia, Administracao e Sociologia Rural (SOBER).
    17. Bijman, W.J.J. & Hendrikse, G.W.J. & van Oijen, A.A.C.J., 2012. "Accommodating Two Worlds in One Organization: Changing Board Models in Agricultural Cooperatives," ERIM Report Series Research in Management ERS-2012-015-ORG, Erasmus Research Institute of Management (ERIM), ERIM is the joint research institute of the Rotterdam School of Management, Erasmus University and the Erasmus School of Economics (ESE) at Erasmus University Rotterdam.
    18. Henry Leung & Frank Furfaro, 2020. "Comovement of dairy product futures and firm value: returns and volatility," Australian Journal of Agricultural and Resource Economics, Australian Agricultural and Resource Economics Society, vol. 64(3), pages 632-654, July.
    19. Roma, Paolo & Perrone, Giovanni, 2016. "Cooperation among competitors: A comparison of cost-sharing mechanisms," International Journal of Production Economics, Elsevier, vol. 180(C), pages 172-182.
    20. Maryline Filippi, 2014. "Using the Regional Advantage: French Agricultural Cooperatives' Economic and Governance Tool," Annals of Public and Cooperative Economics, Wiley Blackwell, vol. 85(4), pages 597-615, December.

    More about this item

    Keywords

    Agribusiness; Agricultural Finance;

    Statistics

    Access and download statistics

    Corrections

    All material on this site has been provided by the respective publishers and authors. You can help correct errors and omissions. When requesting a correction, please mention this item's handle: RePEc:ags:ijofsd:232478. See general information about how to correct material in RePEc.

    If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.

    If CitEc recognized a bibliographic reference but did not link an item in RePEc to it, you can help with this form .

    If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your RePEc Author Service profile, as there may be some citations waiting for confirmation.

    For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: AgEcon Search (email available below). General contact details of provider: https://edirc.repec.org/data/centmde.html .

    Please note that corrections may take a couple of weeks to filter through the various RePEc services.

    IDEAS is a RePEc service. RePEc uses bibliographic data supplied by the respective publishers.