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A Comparative Financial Ratio Analysis of U.S. Farmer Cooperatives Using Nonparametric Statistics


  • Royer, Jeffrey S.


A comparative ratio analysis using nonparametric statistical methods provides no evidence to support the hypothesis that U.S. farmer cooperatives generally are financially weaker than other firms. Although some cooperative groups had lower current ratios than industry standards, most of these groups consisted of marketing associations for which differences may be explained largely by the unique business relationships between the associations and their patrons. Comparisons of debt/equity ratios indicate that, except for regional grain and farm supply associations, cooperatives generally are less leveraged than other firms. The overall financial strength of cooperatives appears better than during the early 1980s.

Suggested Citation

  • Royer, Jeffrey S., 1991. "A Comparative Financial Ratio Analysis of U.S. Farmer Cooperatives Using Nonparametric Statistics," Journal of Agricultural Cooperation, National Council of Farmer Cooperatives, vol. 6.
  • Handle: RePEc:ags:joagco:46257

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    1. repec:ags:uersfc:152847 is not listed on IDEAS
    2. Griffin, Nelda & Wissman, Roger & Monroe, William J. & Yager, Francis P. & Purdue, Elmer, 1980. "The Changing Financial Structure of Farmer Cooperatives," Farmer Cooperative Research Report (FCRR) 166999, United States Department of Agriculture, Economic Research Service.
    3. Staatz, John M., 1989. "Farmer Cooperative Theory: Recent Developments," Research Reports 52017, United States Department of Agriculture, Rural Development Business and Cooperative Programs.
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    Cited by:

    1. 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).
    2. Grashuis, Jasper & Cook, Michael, 2016. "Capital, Ownership, and Governance: Analyzing the Structure of U.S. Farmer Cooperatives," 2016 Annual Meeting, July 31-August 2, 2016, Boston, Massachusetts 235677, Agricultural and Applied Economics Association.
    3. 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.

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