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A Model of Cooperative Finance

Author

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  • John J. VanSickle
  • W. Ladd George

Abstract

The unique characteristics of cooperatives require they be analyzed differently from the more traditional noncooperative firm. A model of cooperative finance is developed that has the objective of maximizing the total, after-tax profits of the cooperative member patrons. A mathematical analysis derives the relationships among the various financial instruments, and a numerical analysis derives results for a cooperative under various hypothesized scenarios. We suggest that a model incorporating the unique characteristics of cooperatives is the more appropriate tool for studying cooperative finance than is the noncooperative model.

Suggested Citation

  • John J. VanSickle & W. Ladd George, 1983. "A Model of Cooperative Finance," American Journal of Agricultural Economics, Agricultural and Applied Economics Association, vol. 65(2), pages 273-281.
    • Handle: RePEc:oup:ajagec:v:65:y:1983:i:2:p:273-281.
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    File URL: http://hdl.handle.net/10.2307/1240873
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    Cited by:

    1. Russell, Levi A. & Briggeman, Brian C., 2014. "Distributing Patronage Income Under Differing Tax Rates and Member Risk Preferences," Journal of Cooperatives, NCERA-210, vol. 29, pages 1-24.
    2. Han, Saim Woo, 1992. "A production and pricing decision model for the Korean agricultural cooperatives," ISU General Staff Papers 1992010108000010995, Iowa State University, Department of Economics.
    3. Yung-Chang WANG, 2016. "The optimal capital structure in agricultural cooperatives under the revolving fund cycles," Agricultural Economics, Czech Academy of Agricultural Sciences, vol. 62(1), pages 45-50.
    4. Russell, Levi A. & Briggeman, Brian C., 2014. "The Effect of Taxes on Capital Structure in Farm Supply and Marketing Cooperatives," 2014 Annual Meeting, February 1-4, 2014, Dallas, Texas 162477, Southern Agricultural Economics Association.
    5. McKee, Gregory & Larsen, Ryan, 2012. "The Effects of Uncertainty and Capital Source on Cooperative Firm Leverage," Journal of Rural Cooperation, Hebrew University, Center for Agricultural Economic Research, vol. 40(2), pages 1-18.
    6. Xiaoyan Qian & Tava Lennon Olsen, 2020. "Operational and Financial Decisions Within Proportional Investment Cooperatives," Manufacturing & Service Operations Management, INFORMS, vol. 22(3), pages 545-561, May.
    7. Zhang, Tianwei & Mallory, Mindy L., 2010. "Patronage Refunds Paying Decision of Farm Credit System Associations: A Logit Model," 2010 Annual Meeting, July 25-27, 2010, Denver, Colorado 61756, Agricultural and Applied Economics Association.
    8. Hopp, Fredrick Neal, 1994. "A financial analysis of grain marketing and production supply cooperatives, 1985-1991," ISU General Staff Papers 1994010108000017637, Iowa State University, Department of Economics.
    9. Davis, Neal & Hanson, Gregory D. & Kinnucan, Henry, 1986. "Taxation And Agriculture: An Annotated Bibliography Of Selected Journals," Staff Reports 277841, United States Department of Agriculture, Economic Research Service.
    10. Vontalge, Alan L., 1991. "A feasibility study of swine producer management cooperatives," ISU General Staff Papers 1991010108000018168, Iowa State University, Department of Economics.
    11. Kenkel, Phil, 2015. "Profit Distribution Alternatives for Agricultural Cooperatives," Journal of Cooperatives, NCERA-210, vol. 30, pages 1-23.

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