Understanding new cooperative models: an ownership-control rights typology

This article examines new agricultural cooperative organizational models from an ownership rights perspective. The article adopts a definition of ownership rights comprising both residual claim and control rights. We argue that new cooperative organizational models differ in how ownership rights are...

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Bibliographic Details
Published in:Applied economic perspectives and policy 2004-09, Vol.26 (3), p.348-360
Main Authors: Chaddad, Fabio R., Cook, Michael L.
Format: Article
Language:English
Subjects:
Agricultural cooperatives
Agricultural economics
Applied Analyses
Capital investments
control rights
Cooperatives
Economic models
Equity
Equity capital
investor-oriented firm
Investors
legal rights
organizational innovations
Organizational structure
Ownership
Ownership rights
P130
Preferred stock
Q130
Residual claimancy
Risk capital
Studies
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Summary:This article examines new agricultural cooperative organizational models from an ownership rights perspective. The article adopts a definition of ownership rights comprising both residual claim and control rights. We argue that new cooperative organizational models differ in how ownership rights are assigned to the economic agents (members, patrons, and investors) tied contractually to the firm. The article proposes a typology of discrete organizational models, in which the traditional cooperative structure and the investor-oriented firm are characterized as polar forms. The typology also includes five nontraditional models that cooperatives may adopt to ameliorate perceived financial constraints.
ISSN:1058-7195
2040-5790
1467-9353
2040-5804
DOI:10.1111/j.1467-9353.2004.00184.x