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Performance of traditional cooperatives: the Portuguese Douro wine cooperatives

Author

Listed:
  • Rebelo, Joao
  • Caldas, Jose Vaz
  • Matulich, Scott C.

Abstract

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.

Suggested Citation

  • Rebelo, Joao & Caldas, Jose Vaz & Matulich, Scott C., 2010. "Performance of traditional cooperatives: the Portuguese Douro wine cooperatives," Economia Agraria y Recursos Naturales, Spanish Association of Agricultural Economists, vol. 10(02), pages 1-16, December.
    • Handle: RePEc:ags:earnsa:99100
    DOI: 10.22004/ag.econ.99100
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    Cited by:

    1. Saïsset, L.A. & Couderc, J.P., 2013. "Les trois dimensions de la gouvernance coopérative : à la recherche d'un équilibre instable. Le cas des caves coopératives en Languedoc-Roussillon [France]," Working Papers MoISA 201302, UMR MoISA : Montpellier Interdisciplinary center on Sustainable Agri-food systems (social and nutritional sciences): CIHEAM-IAMM, CIRAD, INRAE, L'Institut Agro, Montpellier SupAgro, IRD - Montpellier, France.
    2. Rebelo, Joao & Muhr, Dorli, 2012. "Innovation in wine SMEs: the Douro Boys informal network," Studies in Agricultural Economics, Research Institute for Agricultural Economics, vol. 114(2), pages 1-7, October.
    3. Louis-Antoine Saïsset & Géraldine Riviere-Giordano & Paul Amadieu, 2016. "The key role of stakeholders on wine cooperatives governance and performance," Post-Print hal-02742867, HAL.

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