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| Registros recuperados: 16 | |
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| Parliament, Claudia; Tsur, Yacov; Zilberman, David. |
| Understanding the allocation of labor between collective and private activities within cooperatives has been an issue of interest for economists and policy makers. This paper extends existing literature by incorporating income uncertainty from both private and collective activities, and by assuming that members are risk averse. The analysis suggests a member's labor response to policy parameters can be decomposed into three components: the mean effect, reflecting the labor response under certainty or risk neutrality; the variance effect, reflecting the response to changes in risk; and the wealth effect, reflecting the response to changes in risk aversion associated with changes in wealth. The analysis demonstrates the labor response may be reversed from... |
| Tipo: Working or Discussion Paper |
Palavras-chave: Labor and Human Capital. |
| Ano: 1986 |
URL: http://purl.umn.edu/13672 |
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| Lerman, Zvi; Parliament, Claudia. |
| The objective of this study is to determine if there are important size and industry effects on financial performance of cooperatives. The analysis of a sample of 43 cooperatives over the period 1970-1987 indicates that large cooperatives are more efficient in utilization of their assets, while small cooperatives have higher profitability. The dairy cooperatives appear to be the strongest performers among the four industries studied. The food marketing cooperatives, many of which engage in value added processing, are characterized by the lowest performance measures. The most striking trend effect estimated from this sample is the decline in profitability for all industry and size categories. |
| Tipo: Working or Discussion Paper |
Palavras-chave: Agribusiness. |
| Ano: 1989 |
URL: http://purl.umn.edu/14248 |
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| Parliament, Claudia; Lerman, Zvi; Fulton, Joan R.. |
| A comparison of regional dairy cooperatives with investor-owned dairy firms from the period 1976-87 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, liquidity, 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. |
| Tipo: Journal Article |
Palavras-chave: Agribusiness; Livestock Production/Industries. |
| Ano: 1990 |
URL: http://purl.umn.edu/46229 |
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| Parliament, Claudia; Lerman, Zvi. |
| This research examines the effect of risk on the proportion of equity held by agricultural cooperatives. The measured components of risk are business risk and the financial risk that is dependent on the proportion of debt in the cooperative's capital structure. The empirical results indicate the proportion of equity is inversely related to financial risk and positively related to business risk. These risk effects are estimated to differ based on the commodity handled by the cooperative. No Significant relation between the proportion of equity and whether or not the cooperative operates on a pooling basis is estimated. |
| Tipo: Journal Article |
Palavras-chave: Agribusiness; Risk and Uncertainty. |
| Ano: 1993 |
URL: http://purl.umn.edu/46388 |
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| Lerman, Zvi; Parliament, Claudia. |
| Sources and uses of funds in agricultural cooperatives are examined and compared to the aggregate of nonfinancial corporations for the period 1973-1987. Cooperatives are observed to finance nearly half their growth with equity. The equity financing proportion of cooperatives is statistically indistinguishable from the national average of nonfinancial corporations in the years 1973-1983 and is consistently higher than the national average since 1984. This finding contradicts the hypothesis of equity shortage in cooperatives. |
| Tipo: Working or Discussion Paper |
Palavras-chave: Agribusiness. |
| Ano: 1991 |
URL: http://purl.umn.edu/13410 |
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| Parliament, Claudia; Lerman, Zvi; Huseby, Dana. |
| This research examines the effects of risk-related factors on the proportion of equity held by agricultural cooperatives. The empirical analysis indicates that capital structure is significantly affected by the level and variation of profitability, commodities handled, and market function. The proportion of equity is not affected by size or pooling. Contrary to expectations, the results indicate an inverse relation between profit variability and the proportion of equity. Cooperatives rely on profit for equity accumulation through retained earnings. If this source of equity is unstable, the cooperative may not be able to generate sufficient equity causing the estimated inverse relationship. |
| Tipo: Working or Discussion Paper |
Palavras-chave: Agribusiness. |
| Ano: 1991 |
URL: http://purl.umn.edu/14032 |
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| Parliament, Claudia; Lerman, Zvi; Fulton, Joan R.. |
| 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. |
| Tipo: Working or Discussion Paper |
Palavras-chave: Agribusiness; Livestock Production/Industries. |
| Ano: 1989 |
URL: http://purl.umn.edu/14245 |
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| Mancino, Lisa; Parliament, Claudia. |
| The demand for natural foods has been growing steadily over the past decade. As more mainstream grocers and investor-owned, natural food chains respond to this increased demand, the viability of local, independent natural food co-ops (TCNFCs) was used to assess organizational options. The study employed a customer survey to determine characteristics and preferences of co-op shoppers. The survey results were used in conjunction with a schema that analyzed the interaction among market forces, store differences, and customer factors to make recommendations to the TCNFCs. This analysis suggests that in the short run, these stores should employ a federated cooperative structure to accommodate a city-wide co-op membership and increase joint ventures among the... |
| Tipo: Working or Discussion Paper |
Palavras-chave: Agribusiness; Consumer/Household Economics; Industrial Organization. |
| Ano: 2001 |
URL: http://purl.umn.edu/14316 |
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| Parliament, Claudia; Taitt, Jodi. |
| Reorganization has been promoted as a means to strengthen the position of cooperatives within the agricultural economy. The purpose of this study is to determine if agricultural cooperatives that reorganized through merger, acquisition, or consolidation have improved their financial performance. Although the research suggests reorganization may not be beneficial to the strongest cooperative in either the short or longer run, at least 33% of the observed reorganizations can be classified as unqualified successes. The data include 53 cooperatives involved in 24 reorganizations. |
| Tipo: Working or Discussion Paper |
Palavras-chave: Agribusiness; Industrial Organization. |
| Ano: 1989 |
URL: http://purl.umn.edu/13384 |
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| Lerman, Zvi; Parliament, Claudia. |
| Profitability measures are omitted from performance analyses of marketing pool cooperatives that do not include raw products in their reported costs. A procedure to estimate the profitability of these cooperatives is proposed, converting net proceeds to a figure comparable to standard net profit or net margin. The median ROE calculated using the proposed adjustment was found to be significantly different from the median ROE of "net-margin-reporting" pools over the period 1971-1987. Application of this procedure will allow pool cooperatives to compare their profitability to other cooperatives and investor-owned firms. |
| Tipo: Working or Discussion Paper |
Palavras-chave: Agribusiness. |
| Ano: 1990 |
URL: http://purl.umn.edu/13788 |
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| Registros recuperados: 16 | |
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