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Relationship of Pooling to Equity Capital and Current Assets of Large Producer Marketing Cooperatives

Author

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  • Sporleder, Thomas L.
  • Malick, William M.
  • Tough, Cynthia H.
Abstract
Committed marketing cooperatives have ensured member support and because of pooling may have higher leverage relative to buy-sell cooperatives. The hypothesis tested in this article is that marketing cooperatives with pooling have less market risk compared with those without pools and as a consequence can incur more financial risk and command greater leverage. Using an econometric approach to control for size of cooperative, empirical results suggest that pooling cooperatives have increased leverage, about 9 percent more than nonpooling cooperatives.

Suggested Citation

  • Sporleder, Thomas L. & Malick, William M. & Tough, Cynthia H., 1988. "Relationship of Pooling to Equity Capital and Current Assets of Large Producer Marketing Cooperatives," Journal of Agricultural Cooperation, National Council of Farmer Cooperatives, vol. 3, pages 1-11.
    • Handle: RePEc:ags:joagco:46208
    DOI: 10.22004/ag.econ.46208
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    Cited by:

    1. Parliament, Claudia & Lerman, Zvi, 1993. "Risk and Equity in Agricultural Cooperatives," Journal of Agricultural Cooperation, National Council of Farmer Cooperatives, vol. 8, pages 1-14.
    2. Sporleder, Thomas L. & Goldsmith, Peter D., 1990. "The Risk Mitigation Aspects of Agricultural Cooperatives," Cooperatives: Their Importance in the Future Food and Agricultural System - FAMC 1990 Conference 265910, Food and Agricultural Marketing Consortium (FAMC).

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    Keywords

    Agribusiness; Agricultural Finance;

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