Staff Publications

Staff Publications

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    'Staff publications' is the digital repository of Wageningen University & Research

    'Staff publications' contains references to publications authored by Wageningen University staff from 1976 onward.

    Publications authored by the staff of the Research Institutes are available from 1995 onwards.

    Full text documents are added when available. The database is updated daily and currently holds about 240,000 items, of which 72,000 in open access.

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Record number 434087
Title Which Cooperative Ownership Model Performs Better? A Financial-Decision Aid Approach
Author(s) Kalogeras, N.; Pennings, J.M.E.; Benos, T.; Doumpos, M.
Source Agribusiness 29 (2013)1. - ISSN 0742-4477 - p. 80 - 95.
DOI https://doi.org/10.1002/agr.21323
Department(s) Marketing and Consumer Behaviour
WASS
Publication type Refereed Article in a scientific journal
Publication year 2013
Keyword(s) agricultural cooperatives - marketing cooperatives - firms
Abstract In this article the financial/ownership structures of agribusiness cooperatives are analyzed to examine whether new cooperative models perform better than the more traditional ones. The assessment procedure introduces a new financial decision-aid approach, which is based on data-analysis techniques in combination with a preference ranking organization method of enrichment evaluations (PROMETHEE II). The application of this multicriteria decision-aid approach allows the rank ordering of cooperatives based on the most prominent financial ratios. The financial ratios were selected using principal component analysis. This analytical procedure reduces the dimensionality of large numbers of interrelated financial performance measures. We assess the financial success of Dutch agribusiness cooperatives for the period 1999–2010. Results show that there is no clear-cut evidence that cooperative models used to attract extra members’ investments and/or outside equity perform better than the more traditional models. This suggests that ownership structure of cooperatives is not always a decisive factor for their financial success.
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