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Dominant Forms of Corporate Control in the U.S. Agribusiness Sector

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  • Julie A. Caswell

Abstract

Two forms of control over corporate decision making are analyzed: direct control through stockholding and network control through interlocking boards of directors. A majority of the 222 large agribusiness firms studied had strong direct control by owners or cooperatives, while the largest firms lacked such control. Tests relating direct control type to level of network control exposure show that strong direct control is associated with weak network control and vice versa, with firm size being the major factor in explaining both types of control. For the largest firms, network-based rather than direct control appears to limit management discretion.

Suggested Citation

  • Julie A. Caswell, 1987. "Dominant Forms of Corporate Control in the U.S. Agribusiness Sector," American Journal of Agricultural Economics, Agricultural and Applied Economics Association, vol. 69(1), pages 11-21.
    • Handle: RePEc:oup:ajagec:v:69:y:1987:i:1:p:11-21.
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    File URL: http://hdl.handle.net/10.2307/1241301
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    Cited by:

    1. Jean-Pierre Pichard-Stamford, 2000. "Légitimité et enracinement du dirigeant par le réseau des administrateurs," Revue Finance Contrôle Stratégie, revues.org, vol. 3(4), pages 143-178, December.
    2. Silvio Goglio & Yiorgos Alexopoulos, 2009. "Financial Deregulation and Economic Distress: Is There a Future for Financial Co-operatives?," Euricse Working Papers 09001, Euricse (European Research Institute on Cooperative and Social Enterprises).
    3. Vink, N., 1992. "Expanding The Playing Field: South Africa, Southern Africa And The Role Of The Agricultural Economist," Agrekon, Agricultural Economics Association of South Africa (AEASA), vol. 31(4), December.
    4. Silvio Goglio & Yiorgos Alexopoulos, 2014. "Editorial: Cooperative Banks at a Turning Point?," Journal of Entrepreneurial and Organizational Diversity, European Research Institute on Cooperative and Social Enterprises, vol. 3(1), pages 1-8, June.

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