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Article

Access_open Ownership, Governance and Related Trade-Offs in Agricultural Cooperatives

Journal The Dovenschmidt Quarterly, Issue 4 2014
Keywords investment constraints, collective decision-making, organizational complexity, agricultural cooperative, residual ownership rights
Authors Constantine Iliopoulos
AbstractAuthor's information

    Agricultural cooperatives represent a key institutional arrangement in the world food and agriculture industries. Understanding these business organizations by adopting multi-disciplinary perspectives serves both scholarly and societal needs. This article addresses two issues: (1) how agricultural cooperatives choose from a plethora of ownership and governance features and (2) what are the main trade-offs cooperatives face in making these choices. Both issues have important implications for the efficiency of collective entrepreneurship organizations in food supply chains and thus for food nutrition security and food quality. The article proffers observations based on the extant literature and the author’s field experience. It is concluded that agricultural cooperatives choose ownership and governance features in an attempt to attract risk capital for investments while optimizing collective decision-making efficiency. The main trade-offs that cooperatives address while making these choices are between (1) investor mentality and member-patron control, (2) organizational complexity and vagueness of ownership rights, (3) the need for risk capital and member control, (4) organizational complexity and member control and (5) management monitoring costs and the costs of collective decision-making. These observations are highly relevant for organizational scholars, cooperative practitioners and policymakers as they inform decision-making in cooperatives in more than one way.


Constantine Iliopoulos
Dr. Iliopoulos is the Director of the Agricultural Economics Research Institute and Adjunct Professor at the Agricultural University of Athens, Athens, Greece. E-mail: iliopoulosC@agreri.gr.
Article

Access_open Can Corporate Law on Groups Assist Groups to Effectively Address Climate Change?

A Cross-Jurisdictional Analysis of Barriers and Useful Domestic Corporate Law Approaches Concerning Group Identification and Managing a Common Climate Change Policy

Journal The Dovenschmidt Quarterly, Issue 3 2014
Authors Tineke Lambooy and Jelena Stamenkova van Rumpt
Author's information

Tineke Lambooy
Tineke Lambooy is Professor Corporate Law at Nyenrode Business University and Associate Professor Corporate Social Responsibility at Utrecht University.

Jelena Stamenkova van Rumpt
Jelena Stamenkova van Rumpt, LLM, is Advisor Responsible Investment at PGGM (Dutch Asset Manager for Pension Funds).
Editorial

Access_open Validity and Compatibility of the SAM and KLD Screening Instruments

Journal The Dovenschmidt Quarterly, Issue 1 2012
Keywords Corporate sustainability performance (measurement), screening instruments, sustainability rating agencies, Sustainable Asset Management (SAM), Corporate Sustainability Analysis Framework (CSAF), sustainability (reporting) guidelines, content analysis, Sustainability Items
Authors Egbert Dommerholt
AbstractAuthor's information

    The discussion about corporate sustainability performance already has a rich and longstanding history.Todate corporate sustainability performance is a key issue in many companies. However, when asked what it means or how to apply this construct in a concrete business context, many entrepreneurs and managers are not able to give an answer. This confusion may be due to the multitude of definitions and descriptions of corporate sustainability performance constructs.To get a better understanding of corporate sustainability performance and to help companies shape their corporate sustainability performance, a plenitude of (reporting) guidelines are available today. However, because of a rich variation in foci, these guidelines also contribute to the corporate sustainability performance confusion among business people.Companies are no longer solely judged on the financial performance, but they also have to account for their sustainability performance to a variety of stakeholders. However, along with the increasing attention of stakeholders for corporate sustainability performance, the number of organizations that assessing companies’ governance, social, ecological and economic performance also increasesThe aim of this paper is to research the validity and compatibility of the screening instruments of two widely respected sustainability rating agencies: the Zurich (Switzerland) based Sustainable Asset Management Group (SAM) and the Boston (USA) based KLD analytics, Inc (KLD). These screening instruments are benchmarked against the Corporate Sustainability Analysis Framework designed and developed by Dommerholt 2009. The results suggest that the SAM and KLD instruments are imperfect measures of corporate sustainability performance, implying that the validity of these measures is questionable. The results also show that the screening instruments are not really compatible indicating that these instruments cannot be used interchangeably because of differences in the underlying conceptions of corporate sustainability performance. Therefore we can say that these screening instruments too seem to add to the confusions surrounding corporate sustainability performance (measurement).


Egbert Dommerholt
Lecturer at the Hanze University of Applied Sciences, Groningen and research associate at the Institute of Corporate Law, Governance and Innovation Policy (ICGI) of the Maastricht University.
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