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Security and returns as sources of v...

Gozali, Emile.

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Security and returns as sources of value in open-membership cooperatives: The case of dairy cooperatives.

Record Type:	Electronic resources : Monograph/item
Title/Author:	Security and returns as sources of value in open-membership cooperatives: The case of dairy cooperatives./
Author:	Gozali, Emile.
Description:	193 p.
Notes:	Source: Dissertation Abstracts International, Volume: 54-01, Section: A, page: 0263.
Contained By:	Dissertation Abstracts International54-01A.
Subject:	Economics, Agricultural. -
Online resource:	http://pqdd.sinica.edu.tw/twdaoapp/servlet/advanced?query=9309553

Security and returns as sources of value in open-membership cooperatives: The case of dairy cooperatives.
Gozali, Emile.

Security and returns as sources of value in open-membership cooperatives: The case of dairy cooperatives. - 193 p.

Source: Dissertation Abstracts International, Volume: 54-01, Section: A, page: 0263.

Thesis (Ph.D.)--Cornell University, 1993.

This study addresses the question of why cooperatives exist and have a large share of the dairy market. Especially of interest is the reasons of an open-membership policy among these cooperatives. This question calls for an explanation of the value of cooperatives to their owners/members.Subjects--Topical Terms:

626648
Economics, Agricultural.

Security and returns as sources of value in open-membership cooperatives: The case of dairy cooperatives.
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100 1 $a Gozali, Emile. $3 1909043
245 1 0 $a Security and returns as sources of value in open-membership cooperatives: The case of dairy cooperatives.
300 $a 193 p.
500 $a Source: Dissertation Abstracts International, Volume: 54-01, Section: A, page: 0263.
500 $a Adviser: Bruce L. Anderson.
502 $a Thesis (Ph.D.)--Cornell University, 1993.
520 $a This study addresses the question of why cooperatives exist and have a large share of the dairy market. Especially of interest is the reasons of an open-membership policy among these cooperatives. This question calls for an explanation of the value of cooperatives to their owners/members.
520 $a Three main motives for membership are identified: price enhancement, reduction in rent-seeking behavior by private buyers, and increase of control over marketing. A subsequent theoretical discussion suggests that the price enhancement objective is not compatible with an open-membership policy, and the benefit of reduction in rent-seeking cannot be a lasting attraction to members. This proposition is supported by the observed data from the dairy industry. In addition, two models contrasting the optimization models of an open-membership cooperative and an investor-oriented firm provide the specific conclusion that greater membership control of the volume marketed is the main reason for farmers' membership in cooperatives.
520 $a A calculation of the net present value of cash returns to members of five large dairy cooperatives in Northeastern United States yielded relatively modest or negative figures in comparison to the competition. This suggests that cash returns play a relatively small role in farmers' membership decisions. Also, it shows that cooperatives were not pursuing return enhancing strategies or fostering price competitiveness during the sample period. Two series of regression analyses showed that the size of membership responded mostly to the uncertainty in the milk supply in the industry rather than returns.
520 $a This study points to the restriction in the movement of milk price (i.e., a price floor) as the cause of the limited willingness on the part of investor-oriented processors to handle all the milk available. Together with the fluctuating production, this explains the need for member-controlled cooperatives to insure a market outlet and the logic behind the open-membership policy necessary to carry out this insurance role.
520 $a Finally, forecasting and a complete risk modeling of dairy cooperatives were introduced as a bridge to promising research which will be useful for the improvement of the dairy cooperative management in the future.
590 $a School code: 0058.
650 4 $a Economics, Agricultural. $3 626648
650 4 $a Economics, General. $3 1017424
650 4 $a Economics, Theory. $3 1017575
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710 2 0 $a Cornell University. $3 530586
773 0 $t Dissertation Abstracts International $g 54-01A.
790 1 0 $a Anderson, Bruce L., $e advisor
790 $a 0058
791 $a Ph.D.
792 $a 1993
856 4 0 $u http://pqdd.sinica.edu.tw/twdaoapp/servlet/advanced?query=9309553