Journal ArticleDOI
Accommodating Two Worlds in One Organisation: Changing Board Models in Agricultural Cooperatives
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TLDR
This work identifies three corporate governance models: traditional model, management model, and corporation model and presents an empirical illustration showing a relationship between the choice of board model and product portfolio and performance.Abstract:
While most economic organisation literature on cooperatives has focused on changes in income rights, we study changes in the allocation of decision rights between board of directors (representing members) and managers. The traditional role of the board is to direct the activities of the managers. However, professional management increasingly makes most strategic decisions, pushing the board into a supervisory role. We present two groups of findings on changing board–management relationships. We identify three corporate governance models: traditional, management and corporation. And we present an empirical illustration showing a relationship between the choice of board model, and product portfolio and performance. Copyright © 2012 John Wiley & Sons, Ltd.read more
Citations
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Journal ArticleDOI
Control Rights, Governance, and the Costs of Ownership in Agricultural Cooperatives
TL;DR: In this paper, the allocation of formal control rights with a focus on decision management and decision control rights in agricultural cooperatives has been analyzed in terms of the associated ownership costs, including riskbearing costs, the costs of controlling managers, and collective decision-making costs.
Support for farmers' cooperatives: final report.
Support for Farmers' Cooperatives
Krijn J. Poppe,Jos Bijman +1 more
TL;DR: In order to foster the competitiveness of the food supply chain, the European Commission is committed to promote and facilitate the restructuring and consolidation of the agricultural sector by encouraging the creation of voluntary agricultural producer organisations.
Journal ArticleDOI
Social capital, member participation, and cooperative performance: Evidence from China’s Zhejiang
TL;DR: Zhang et al. as discussed by the authors developed a framework for defining and clarifying various aspects of social capital and examined the effects of social social capital on members' participation in collective activities and on the economic performance of farmer cooperatives.
Journal ArticleDOI
Shifting control? the changes of internal governance in agricultural cooperatives in the eu
TL;DR: In this paper, the authors present data on innovations in the internal governance mechanisms of a sample of 500 agricultural cooperatives in the EU and discuss their implications for member control and manager accountability.
References
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Theory of the firm: Managerial behavior, agency costs and ownership structure
TL;DR: In this article, the authors draw on recent progress in the theory of property rights, agency, and finance to develop a theory of ownership structure for the firm, which casts new light on and has implications for a variety of issues in the professional and popular literature.
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Eugene F. Fama,Michael C. Jensen +1 more
TL;DR: The authors argue that the separation of decision and risk-bearing functions observed in large corporations is common to other organizations such as large professional partnerships, financial mutuals, and nonprofits. But they do not consider the role of decision agents in these organizations.
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A Survey of Corporate Governance
Andrei Shleifer,Robert W. Vishny +1 more
TL;DR: Corporate Governance as mentioned in this paper surveys research on corporate governance, with special attention to the importance of legal protection of investors and of ownership concentration in corporate governance systems around the world, and shows that most advanced market economies have solved the problem of corporate governance at least reasonably well, in that they have assured the flows of enormous amounts of capital to firms, and actual repatriation of profits to the providers of finance.
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Institutions Rule: The Primacy of Institutions over Geography and Integration in Economic Development
TL;DR: In this paper, the authors estimate the respective contributions of institutions, geography, and trade in determining income levels around the world, using recently developed instrumental variables for institutions and trade, and conclude that the quality of institutions "trumps" everything else.
Journal ArticleDOI
Formal and Real Authority in Organizations
Philippe Aghion,Jean Tirole +1 more
TL;DR: In this article, the authors developed a theory of the allocation of formal authority and real authority within organizations, and illustrated how a formally integrated structure can accommodate various degrees of "real" integration.