文章基本信息

标题：Performance of traditional cooperatives: the Portuguese Douro wine cooperatives
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作者：Rebelo, Joao ; Caldas, Jose Vaz ; Matulich, Scott C. 等
期刊名称：Journal of Agribusiness
印刷版ISSN：0738-8950
出版年度：2010
页码：143-158
出版社：Journal of Agribusiness
摘要：Globalization is challenging the very core of cooperative governance and ownership decision, especially in Southern European countries, like Portugal, where a large number of producers are organized in traditional and Mediterranean-style agricultural cooperatives. This paper analyses the effects of governance and control variables related with size over two alternative indicators of performance: revenues transferred to members/patrons and capital structure. The results suggest that these cooperatives have difficulties being sustainable in the more competitive global wine markets, if they follow, essentially, a practice of maximum patronage refund, reducing their capacity to improve leverage and to finance more profitable, but risky, long run investments.