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Financial Instruments and Conflicts of Interest: Application to French Agricultural Co-operatives

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  • Declerck, Francis

Abstract

To finance their growth and value creation, agricultural co-operatives have at their disposal several financial instruments: equity, quasi-equity or debt. Many of these instruments are particularly innovative and have been designed specifically for co-operatives. In France, only recently have some co-operatives expanded their types of financing to include external funders through the issue of OTC- or publicly-traded securities. Agricultural co-operatives' governance and economic projects are often misunderstood by external financial investors. The risk of conflicts of interest plays a role in these misunderstandings in the way retained earnings, returns to agricultural products brought by co-op member and returns to equity capital. Such risks are identified and answers are proposed.

Suggested Citation

  • Declerck, Francis, 2015. "Financial Instruments and Conflicts of Interest: Application to French Agricultural Co-operatives," International Journal on Food System Dynamics, International Center for Management, Communication, and Research, vol. 6(4), pages 1-13, December.
    • Handle: RePEc:ags:ijofsd:232478
    DOI: 10.22004/ag.econ.232478
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    References listed on IDEAS

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    1. Maryline Filippi & P. Triboulet, 2008. "Formes de contrôle et alliances dans la coopération agricole," Post-Print hal-00388392, HAL.
    2. Fabio R. Chaddad & Michael L. Cook, 2004. "Understanding New Cooperative Models: An Ownership–Control Rights Typology," Review of Agricultural Economics, Agricultural and Applied Economics Association, vol. 26(3), pages 348-360.
    3. Maryline Filippi & Pierre Triboulet, 2011. "Alliances stratégiques et formes de contrôle dans les coopératives agricoles," Revue d'économie industrielle, De Boeck Université, vol. 0(1), pages 57-78.
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    Agribusiness; Agricultural Finance;

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