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An Analysis of Alternative Financing Strategies and Equity Retirement Plans for Farm Supply Cooperatives

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  • Wilmer A. Dahl
  • W. D. Dobson

Abstract

Cooperatives are experiencing pressures to increase cash patronage refunds, reduce financing costs, and retire equity capital of farmer-members who die, retire, or leave the cooperative's service area. Farm supply cooperatives could increase cash patronage refunds by over 90% and reduce financing costs by 6% to 9% by employing moderately different capital acquisition practices. Solvency of the cooperatives could be reduced substantially if mandatory equity retirement plans being considered by legislators and courts were adopted.

Suggested Citation

  • Wilmer A. Dahl & W. D. Dobson, 1976. "An Analysis of Alternative Financing Strategies and Equity Retirement Plans for Farm Supply Cooperatives," American Journal of Agricultural Economics, Agricultural and Applied Economics Association, vol. 58(2), pages 198-208.
    • Handle: RePEc:oup:ajagec:v:58:y:1976:i:2:p:198-208.
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    Cited by:

    1. Russell, Levi A. & Briggeman, Brian C., 2014. "Distributing Patronage Income Under Differing Tax Rates and Member Risk Preferences," Journal of Cooperatives, NCERA-210, vol. 29, pages 1-24.
    2. Shahin Ghaziani & Gholamreza Dehbozorgi & Mohammad Bakhshoodeh & Reiner Doluschitz, 2023. "Unraveling On-Farm Wheat Loss in Fars Province, Iran: A Qualitative Analysis and Exploration of Potential Solutions with Emphasis on Agricultural Cooperatives," Sustainability, MDPI, vol. 15(16), pages 1-24, August.
    3. Yung-Chang WANG, 2016. "The optimal capital structure in agricultural cooperatives under the revolving fund cycles," Agricultural Economics, Czech Academy of Agricultural Sciences, vol. 62(1), pages 45-50.
    4. Russell, Levi A. & Briggeman, Brian C., 2014. "The Effect of Taxes on Capital Structure in Farm Supply and Marketing Cooperatives," 2014 Annual Meeting, February 1-4, 2014, Dallas, Texas 162477, Southern Agricultural Economics Association.
    5. Boland, Michael A. & Barton, David G., 2013. "Overview of Research on Cooperative Finance," Journal of Cooperatives, NCERA-210, vol. 27, pages 1-14.
    6. Zhang, Tianwei & Mallory, Mindy L., 2010. "Patronage Refunds Paying Decision of Farm Credit System Associations: A Logit Model," 2010 Annual Meeting, July 25-27, 2010, Denver, Colorado 61756, Agricultural and Applied Economics Association.
    7. Vitaliano, Peter, 1981. "An Empirical Analysis of the Cost of Long-Term Debt Financing for Cooperative and Proprietary Agricultural Marketing Firms," 1981 Annual Meeting, July 26-29, Clemson, South Carolina 279435, American Agricultural Economics Association (New Name 2008: Agricultural and Applied Economics Association).
    8. Condon, Andrew M. & Cotterill, Ronald W. & Rhodes, V. James & Shaffer, James D. & Staatz, John M., 1987. "Cooperative Theory: New Approaches," Service Reports (SR) 280614, United States Department of Agriculture, Rural Development.
    9. Michael L. Cook, 2018. "A Life Cycle Explanation of Cooperative Longevity," Sustainability, MDPI, vol. 10(5), pages 1-20, May.
    10. Royer, Jeffrey S., 2012. "Implications of the Cooperative Organizational Form for Vertical Expansion," Journal of Rural Cooperation, Hebrew University, Center for Agricultural Economic Research, vol. 40(2), pages 1-20.

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