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Performance Of Cooperatives And Investor Owned Firms In The Dairy Industry

Author

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  • Parliament, Claudia
  • Lerman, Zvi
  • Fulton, Joan R.

Abstract

A comparison of regional dairy cooperatives with investor owned dairy firms for the period 1976-1987 produced empirical findings that are at variance with the hypotheses suggested by the theory of cooperatives. The cooperatives in the sample performed significantly better than the IOFs when compared by leverage, asset turnover, and coverage ratios, while the rate of return to equity was not found to be significantly different. Techniques are also proposed for valuing the nonmarket aspects of cooperatives that are not captured by financial ratio analysis.

Suggested Citation

  • Parliament, Claudia & Lerman, Zvi & Fulton, Joan R., 1989. "Performance Of Cooperatives And Investor Owned Firms In The Dairy Industry," Staff Papers 14245, University of Minnesota, Department of Applied Economics.
  • Handle: RePEc:ags:umaesp:14245
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    File URL: http://ageconsearch.umn.edu/record/14245/files/p89-33.pdf
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    References listed on IDEAS

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    1. Goodman, Allen C., 1989. "Identifying willingness-to-pay for heterogeneous goods with factorial survey methods," Journal of Environmental Economics and Management, Elsevier, vol. 16(1), pages 58-79, January.
    2. Nelson, Jon P., 1979. "Airport noise, location rent, and the market for residential amenities," Journal of Environmental Economics and Management, Elsevier, vol. 6(4), pages 320-331, December.
    3. Brookshire, David S, et al, 1982. "Valuing Public Goods: A Comparison of Survey and Hedonic Approaches," American Economic Review, American Economic Association, vol. 72(1), pages 165-177, March.
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    Cited by:

    1. Lerman, Zvi & Parliament, Claudia, 1989. "Industry And Size Effects In Agricultural Cooperatives," Staff Papers 14248, University of Minnesota, Department of Applied Economics.
    2. A. M. Hind, 1994. "Cooperatives - Under Performers By Nature? An Exploratory Analysis Of Cooperative And Non-Cooperative Companies In The Agri-Business Sector," Journal of Agricultural Economics, Wiley Blackwell, vol. 45(2), pages 213-219.

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