Publication: Members’ perceptions of governance in agricultural cooperatives: Evidence from Spain
Authors
Lucas Martínez, Gabriel ; Martín-Ugedo, Juan Francisco ; Mínguez Vera, Antonio
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Facultades, Departamentos, Servicios y Escuelas::Departamentos de la UMU::Organización de Empresas y Finanzas
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Publisher
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DOI
https://doi. 10.1177/0030727020907334
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info:eu-repo/semantics/article
Description
©2020. This manuscript version is made available under the CC-BY-NC-ND 4.0 license http://creativecommons.org/licenses/by-nc-nd/4.0/
This document is the Accepted version of a Published Work that appeared in final form in Outlook on Agriculture. To access the final edited and published work see https://doi. 10.1177/0030727020907334
Abstract
This article examines some aspects related to perceptions of agricultural cooperative members. Most arguments
employed are based on agency and property rights theories. The sample consists of 196 satisfaction surveys completed by
agricultural cooperative members and accounting information from Spanish cooperatives. The results show that when
members do not perceive any serious agency problems, the performance of the firm is higher. We also find that members
are not discouraged from investing by awareness of the free-rider problem, and the less risk averse members are, the
higher is the long-term debt ratio. Finally, members’ perceptions of the time horizon problem have no impact on the time
frame for investment
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Citation
Outlook on Agriculture1–8
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Este ítem está sujeto a una licencia Creative Commons. http://creativecommons.org/licenses/by-nc-nd/4.0/