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The relationship between the financial structure of a marketing cooperative (MC) and the requirement of the dominationof control by the members is analysed from a transaction costs perspective. A MC receives less favourable terms on outsideequity than a conventional firm because the decision power regarding new investments is not allocated to the providers ofthese funds. This is a serious threat to the survival of a MC in a market where efficient investments are characterised by anincreasing level of asset specificity at the processing stage of production. A MC is predicted to be an efficient organisationalform when the level of asset specificity at the processing stage of production is at a low or immediate level compared to thelevel of asset specificity at the farming stage of production. © 2001 Elsevier Science B.V. All rights reserved.

Subject(s): Agricultural and Food Policy

Production Economics

Issue Date: 2001-12

Publication Type: Journal Article

PURL Identifier: http://purl.umn.edu/181436 Published in: Agricultural Economics: The Journal of the International Association of Agricultural Economists, Volume 26, Issue 3 Page range: 205-216

Total Pages: 12

Record appears in: International Association of Agricultural Economists (IAAE) > Agricultural Economics: The Journal of the International Association of Agricultural Economists





Autor: Hendrikse, George W.J. ; Veerman, Cees P.

Fuente: http://ageconsearch.umn.edu/record/181436?ln=en







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