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This is a Quantitative Study study.

September 17, 2025Canadian Journal of Agricultural Economics/Revue canadienne d agroeconomie

Good co‐op, bad co‐op: Financing cooperatives with debt and retained earnings under asymmetric information

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Authors

JCJulien CadotDélégation Paris 6 AFArnaud FéralInstitut Superieur de Gestion

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Implication

This study explores how asymmetric information influences retained earnings and debt in cooperatives, suggesting implications for financial structure.

Key Points

Cooperatives can finance growth with debt while experiencing a rise in unallocated retained earnings.
From 2010 to 2020, dairy cooperatives showed a trend of financing via increasing unallocated retained earnings.
The principal/agent model reveals retained earnings can function as a contractual tool for growth financing.
These financial trends challenge assumptions about financial constraints in cooperative ownership structures.

Cite This Study

Cadot et al. (2025) studied this question.

synapsesocial.com/papers/68d45e4e31b076d99fa5e552 https://doi.org/10.1111/cjag.70002

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Implication

This study explores how asymmetric information influences retained earnings and debt in cooperatives, suggesting implications for financial structure.

Good co‐op, bad co‐op: Financing cooperatives with debt and retained earnings under asymmetric information

Discussion

Member takes

Implication

Key Points

Cite This Study

Good co‐op, bad co‐op: Financing cooperatives with debt and retained earnings under asymmetric information

Discussion

Member takes

Implication

Key Points

Cite This Study

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Also Consider