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Measuring The Performance Of Agricultural Cooperatives
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Book Synopsis Measuring the Performance of Agricultural Cooperatives by : United States Agriculture
Download or read book Measuring the Performance of Agricultural Cooperatives written by United States Agriculture and published by CreateSpace. This book was released on 2012-04-28 with total page 28 pages. Available in PDF, EPUB and Kindle. Book excerpt: The task of measuring the financial performance of cooperatives is made problematic by the attributes of the cooperative form of business. Most of the commonly used financial measures give an incomplete picture of a cooperative's performance. However, the extra value approach used in this report enables a cooperative's use of member-supplied funds to be fully measured-whether member capital is earning more, or less, than it could in alternative investments. The value a cooperative generates over and above its expenses, including an opportunity cost for its equity capital, is termed "extra value." A positive extra value indicates that a cooperative has created value by its operations, while a negative extra value means that a cooperative has actually diminished the value of members' investment. Extra value is measured by subtracting an interest charge on equity capital from net savings. Three different interest rates are used for the charge on equity. The December average British Banker's Association's London Inter-Bank Offered Rate (Libor) plus 200 basis points provides the basic reference rate. This Libor + 2 "basic" rate represents the commonly held opinion that banks in the United States will generally extend loans to a firm with a better-than-average credit rating, at an interest rate of about 200 basis points above the Libor. Extra value was also calculated at two higher rates, the basic rate plus 5 percentage points and the basic rate plus 10 percentage points, to reflect a range of risk premiums because investors consider equity investment riskier than debt. For comparisons over time and among different types of cooperatives, extra value is expressed as a percentage of operating capital. This common-sized index is thus scale- and operating mode-neutral. Extra value was calculated for 65 cooperatives that had been on USDA's top 100 cooperatives (based on revenue) list for at least 4 years in each of two 5-year time periods-1992 through 1996 and 2000 through 2004. Looking at these two time periods allows for an examination of how cooperative performance progressed over time. Additionally, averaging over multiple years should have helped minimize the impact of extraordinary factors on results.
Book Synopsis Measuring the Performance of Agricultural Cooperatives by : Carolyn Liebrand
Download or read book Measuring the Performance of Agricultural Cooperatives written by Carolyn Liebrand and published by . This book was released on 2007 with total page 20 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Book Synopsis Measuring the Efficiency and Productivity of Agricultural Cooperatives by : Krishna Prasad Pokharel
Download or read book Measuring the Efficiency and Productivity of Agricultural Cooperatives written by Krishna Prasad Pokharel and published by . This book was released on 2016 with total page pages. Available in PDF, EPUB and Kindle. Book excerpt: This dissertation focuses on measuring the efficiency and productivity for agricultural cooperatives in the United States using the data envelopment analysis (DEA) approach. Economic measures such as cost efficiency, economies of scale, and economies of scope are measured by estimating a cost frontier in a multiproduct framework. Productivity growth is measured using the biennial Malmquist index approach. The cost frontier is the basis for calculating cost efficiency, economies of scale, and economies of scope as the cost frontier estimation in a multiproduct approach describes how cost changes as output changes. The estimates of economies of scale and scope have important implications for agricultural cooperatives because most of the cooperatives sell more than one product. Understanding the impact of changing output levels or mixes on the cost structure is helpful to improve the performance of cooperatives. Further, scope economies estimate the percentage of cost savings through product diversification in a multiproduct firm. The trade-off between cost efficiency and multiproduct scale economies allows the estimation of whether a higher percentage of cost can be eliminated by becoming cost efficient or changing the scale of operations. The economic measures are estimated using a single cost frontier (multi-year frontier) and annual cost frontiers. Multiproduct economies of scale and economies of scope exist indicating that increasing scale and product diversification can reduce cost for agricultural cooperatives. The mean values of product-specific economies of scale for all outputs are close to one indicating that cooperatives are operating close to constant returns to scale. The comparison between cost efficiency and scale economies suggests that smaller cooperatives can save a higher percentage of cost by increasing the scale of operations rather than just becoming cost efficient. Because larger incentives exist for small cooperatives to increase scale, mergers will likely continue until economies of scale are exhausted in the industry. Annual estimates show that agricultural cooperatives have become less cost efficient over time, but economies of scale and economies of scope remain consistent across years. Many agricultural cooperatives face economies of scale indicating that variable returns to scale as opposed to constant returns to scale is the appropriate technology for modeling agricultural farm marketing and supply cooperatives. Further, the Kolmogorov-Smirnov (KS) test and two sample t-test are used to examine whether economic measures estimated from a single frontier and annual frontiers are statistically different. The KS test and t-test indicate that economic measures obtained from the single frontier are statistically different from those measures calculated from annual frontiers. This indicates that the cost frontier has shifted over time. Productivity growth of agricultural cooperatives is estimated using the biennial Malmquist productivity index (BMI) under variable returns to scale over the period 2005 to 2014. The BMI avoids numerical infeasibilities under variable returns to scale compared to traditional methods. The BMI is decomposed into efficiency change and technical change to evaluate the sources of productivity growth. Overall, agricultural cooperatives gained 34% cumulative productivity growth during the decade allocated by -2% and 37% cumulative technical efficiency change and technical change over the study period. Technical change was the major source of productivity growth rather than efficiency change. Cooperatives can achieve higher productivity by increasing managerial efficiency and by investing in technology.
Book Synopsis How to Measure the Efficiency of Agricultural Cooperatives in Developing Countries by : Johannes Kuhn
Download or read book How to Measure the Efficiency of Agricultural Cooperatives in Developing Countries written by Johannes Kuhn and published by . This book was released on 1975 with total page 118 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Book Synopsis The Usefulness of Accounting Information in the Measurement of Technical Efficiency in Agricultural Cooperatives by : Isidoro Guzman
Download or read book The Usefulness of Accounting Information in the Measurement of Technical Efficiency in Agricultural Cooperatives written by Isidoro Guzman and published by . This book was released on 2015 with total page 0 pages. Available in PDF, EPUB and Kindle. Book excerpt: The study of the performance of agricultural cooperatives has become increasingly important in recent years, due to the significant role that they have in the agricultural food sector. In this context, the present study has a double aim: On one hand to use the Data Envelopment Analysis (DEA) technique in order to measure the efficiency of agricultural cooperatives, and on the other hand, to analyze if this technique is complementary to the traditional economic and financial ratio analysis. In order to achieve these objectives, an empirical study is carried out using the data of 247 observations made over a horizontal time span of three accounting years (2001-2003). The results show that the efficiency measures obtained by means of the DEA technique are an appropriate complement to the economic analysis of agricultural cooperatives.
Book Synopsis Performance of Agricultural Cooperatives by : Haftom Mezgobo
Download or read book Performance of Agricultural Cooperatives written by Haftom Mezgobo and published by LAP Lambert Academic Publishing. This book was released on 2013 with total page 196 pages. Available in PDF, EPUB and Kindle. Book excerpt: This well organized research project under the title of performance of agricultural cooperatives and their implication on members' satisfaction was examined the basic managerial, financial, marketing and social roles or functions of agricultural cooperatives. To come up with the insights (results, conclusion and recommendations) the research has used both qualitative and quantitative data from primary and secondary sources with appropriate analytical tools for each cooperative performance indicators such as document analysis for managerial performance, ratio analysis for financial performance, marketing margin and variance analysis for marketing performance and econometric analysis for social performances. Moreover, the secondary data were supported by first hand investigated, analyzed and tested data (descriptive and econometric models). Therefore, I strongly recommend that all academicians and practitioners in business field in general and cooperatives field in particular to purchase this convenient hand book from the highly regarded academic publisher LAP.
Book Synopsis Aspects of agricultural cooperative performance measurement by : David Charles Price
Download or read book Aspects of agricultural cooperative performance measurement written by David Charles Price and published by . This book was released on 1993 with total page 848 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Book Synopsis Agricultural Cooperatives and Market Performance in Food Manufacturing by : Richard T. Rogers
Download or read book Agricultural Cooperatives and Market Performance in Food Manufacturing written by Richard T. Rogers and published by . This book was released on 1995 with total page 36 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Book Synopsis How to Measure the Efficiency of Agricultural Cooperatives in Developing Countries by : J. Kuhn
Download or read book How to Measure the Efficiency of Agricultural Cooperatives in Developing Countries written by J. Kuhn and published by . This book was released on 1975 with total page 53 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Book Synopsis How to Measure the Efficiency of Agricultural Cooperatives in Developing Countries by : Johannes Kuhn
Download or read book How to Measure the Efficiency of Agricultural Cooperatives in Developing Countries written by Johannes Kuhn and published by . This book was released on 1971 with total page 165 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Book Synopsis How to measure the efficiency of agricultural cooperatives in developing countries by : Johannes Kuhn
Download or read book How to measure the efficiency of agricultural cooperatives in developing countries written by Johannes Kuhn and published by . This book was released on 1971 with total page 24 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Book Synopsis Financial Ratios for Measuring Performance of Farm Supply Cooperatives by : Abner Nelson Syambi
Download or read book Financial Ratios for Measuring Performance of Farm Supply Cooperatives written by Abner Nelson Syambi and published by . This book was released on 1970 with total page 208 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Book Synopsis The Relationship Between Performance and Governance in Agricultural Cooperatives by : See Yang (Agricultural economist)
Download or read book The Relationship Between Performance and Governance in Agricultural Cooperatives written by See Yang (Agricultural economist) and published by . This book was released on 2014 with total page 80 pages. Available in PDF, EPUB and Kindle. Book excerpt: Previous research in cooperative governance have modeled the relationship between performance and governance using econometric methods such as two-stage least squares (2SLS) estimation and three-stage least squares (3SLS) estimation. This study uses an alternative modeling approach to cooperative governance--structural equation modeling. Treated in a novel way, cooperative performance is measured as a latent variable. The findings contribute a robust measurement model to the literature providing evidence that cooperative performance is best measured by qualitative indicators rather than quantitative financial indicators. The structural model suggests that cooperative performance is weakly associated with governance practices.
Book Synopsis Agricultural Marketing Cooperatives by :
Download or read book Agricultural Marketing Cooperatives written by and published by . This book was released on 1995 with total page 102 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Book Synopsis Vertical Markets and Cooperative Hierarchies by : Kostas Karantininis
Download or read book Vertical Markets and Cooperative Hierarchies written by Kostas Karantininis and published by Springer Science & Business Media. This book was released on 2007-05-24 with total page 289 pages. Available in PDF, EPUB and Kindle. Book excerpt: This book collects sixteen essays that provide clarification to issues pertinent to contemporary cooperatives. Twenty three internationally recognized scholars of agricultural cooperatives from a variety of disciplines such as industrial organization, finance, sociology, networks, and political theory contributed theoretical work and empirical observations from different countries.
Book Synopsis Evaluating the Financial Performance of Agricultural Cooperatives by : Alicia Rambaldi
Download or read book Evaluating the Financial Performance of Agricultural Cooperatives written by Alicia Rambaldi and published by . This book was released on 1988 with total page 222 pages. Available in PDF, EPUB and Kindle. Book excerpt: Abstract.
Book Synopsis Agricultural Cooperatives by : Glynn McBride
Download or read book Agricultural Cooperatives written by Glynn McBride and published by Springer Science & Business Media. This book was released on 2012-12-06 with total page 429 pages. Available in PDF, EPUB and Kindle. Book excerpt: The genesis of this book dates back a number of years to an annual meeting of the American Institute of Cooperation. Cooperative leaders at that meeting openly expressed their feelings that they would like a much stronger commitment on the part of our land grant universities in particular and other educational institutions in general to creating a greater understanding of cooperatives and their role in our economy. Since I was in agreement with this position, the course in general group action which I was teaching was changed to emphasize the role of agricultural cooperatives. The need for a textbook designed to help in this emphasis became apparent. This book is the culmination of an effort to meet that need. This book has been prepared with the student and instructor in mind. It is based upon experience gained from many years of interaction with students in a classroom setting, in discussions with them after class hours, and after they had finished their degree requirements and had taken positions in jndustry, government, or elsewhere. While objectives of the book have remained relatively unchanged over time, the sub stance and format as means of meeting those objectives have changed from time to time as a result of these contacts and discussions. The input xiv Preface xv of students over the years as reflected in this product is gratefully acknowledged.
