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The role of the banks for cooperativ...

Geis, Laura Marie.

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The role of the banks for cooperatives in coordinating investments in industry capacity.

Record Type:	Electronic resources : Monograph/item
Title/Author:	The role of the banks for cooperatives in coordinating investments in industry capacity./
Author:	Geis, Laura Marie.
Description:	409 p.
Notes:	Source: Dissertation Abstracts International, Volume: 56-03, Section: A, page: 1051.
Contained By:	Dissertation Abstracts International56-03A.
Subject:	Economics, Agricultural. -
Online resource:	http://pqdd.sinica.edu.tw/twdaoapp/servlet/advanced?query=9524930

The role of the banks for cooperatives in coordinating investments in industry capacity.
Geis, Laura Marie.

The role of the banks for cooperatives in coordinating investments in industry capacity. - 409 p.

Source: Dissertation Abstracts International, Volume: 56-03, Section: A, page: 1051.

Thesis (Ph.D.)--Michigan State University, 1994.

During the 1980's, agricultural cooperatives in the U.S. experienced their greatest financial stress in fifty years. Many agribusiness industries are suffering from conditions of excess capacity. This research examined the role of the Banks for Cooperatives (BCs), part of the Farm Credit System, in reducing game-theoretic uncertainty in the investment decision environment by monitoring industry capacity and influencing the expansion decisions of their borrowers. Because the benefits of cooperative membership can be gained only by patronizing the cooperative, there is no secondary market for the equities of cooperatively owned firms. Consequently, an important coordination mechanism (the stock market) that is available to investor-owned firms is missing for cooperatives.Subjects--Topical Terms:

626648
Economics, Agricultural.

The role of the banks for cooperatives in coordinating investments in industry capacity.
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100 1 $a Geis, Laura Marie. $3 1909047
245 1 4 $a The role of the banks for cooperatives in coordinating investments in industry capacity.
300 $a 409 p.
500 $a Source: Dissertation Abstracts International, Volume: 56-03, Section: A, page: 1051.
500 $a Adviser: Kirt C. Butler.
502 $a Thesis (Ph.D.)--Michigan State University, 1994.
520 $a During the 1980's, agricultural cooperatives in the U.S. experienced their greatest financial stress in fifty years. Many agribusiness industries are suffering from conditions of excess capacity. This research examined the role of the Banks for Cooperatives (BCs), part of the Farm Credit System, in reducing game-theoretic uncertainty in the investment decision environment by monitoring industry capacity and influencing the expansion decisions of their borrowers. Because the benefits of cooperative membership can be gained only by patronizing the cooperative, there is no secondary market for the equities of cooperatively owned firms. Consequently, an important coordination mechanism (the stock market) that is available to investor-owned firms is missing for cooperatives.
520 $a Three things are necessary for the BC's to successfully coordinate investments through their credit decisions: (1) they must provide a large share of the credit used by cooperatives, (2) their cooperative borrowers must have a large market share, and (3) the BC's must effectively use the information they receive from monitoring borrower accounts to guide the investment decisions of other borrowers wishing to expand. The study explored the extent to which each of these conditions is met in particular agribusiness industries, as well as the investment decision making practices of farmer cooperatives.
520 $a Data was obtained from two surveys: a census of the 290 largest cooperatives and a series of face-to-face interviews with senior members of the BC credit staff. It was found that the BCs have had a significant impact on the match of industry-capacity and long-run demand among local farm supply and grain cooperatives, where they have the largest market share among lenders and the greatest influence over borrowers. In some parts of the country, they have played a very active role in rationalizing excess capacity by initiating mergers and joint ventures among their borrowers based on their independent analysis of borrower financial data. The factors limiting the banks' influence over borrowers were also explored.
590 $a School code: 0128.
650 4 $a Economics, Agricultural. $3 626648
650 4 $a Business Administration, Banking. $3 1018458
650 4 $a Economics, Commerce-Business. $3 626649
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710 2 0 $a Michigan State University. $3 676168
773 0 $t Dissertation Abstracts International $g 56-03A.
790 1 0 $a Butler, Kirt C., $e advisor
790 $a 0128
791 $a Ph.D.
792 $a 1994
856 4 0 $u http://pqdd.sinica.edu.tw/twdaoapp/servlet/advanced?query=9524930