%0 Journal Article 
%A Mínguez Vera, Antonio
%A Martín Uguedo, Juan Francisco
%A Arcas Lario, Narciso
%T Agency and property rights theories in agricultural cooperatives: evidence from Spain
%D 2010
%@ 1695-971-X
%U http://hdl.handle.net/10317/1565
%X [ENG] This manuscript examines the member-agricultural cooperative relationship from the point of view of the agency
and the property rights theories. The sample analysed includes 277 personal surveys completed by members of
agricultural cooperatives in the Region of Murcia (Spain). Results show that in all questions related to objectives
and level of satisfaction, members value them with an average of 6.9 out of 10 or higher in all cases. For both objectives
and satisfaction, the directors and the cooperative members who depend upon agricultural activity for a large
percentage of their income have higher scores, compared with non-board members and members who are less
dependent on agricultural activity (with a statistical significance of 1% and 5%, respectively). We also find that
members who agree in more with the admission of new members, who think it is easy to recover their investments
and who want to stay longer in the cooperative are those who are more willing to invest and to exert control.
Furthermore, we find that members that prefer to have a participation in the assembly proportional to their contribution
and that prefer that the cooperative diversifies more are those who are more willing to invest. In addition, control is
favoured by members pertaining to the cooperative for a large period and for those members who think that investing
in the cooperative is a high risk and who prefer long-term investments. Finally, directors are more willing to invest
and to exert control.[This manuscript examines the member-agricultural cooperative relationship from the point of view of the agency
and the property rights theories. The sample analysed includes 277 personal surveys completed by members of
agricultural cooperatives in the Region of Murcia (Spain). Results show that in all questions related to objectives
and level of satisfaction, members value them with an average of 6.9 out of 10 or higher in all cases. For both objectives
and satisfaction, the directors and the cooperative members who depend upon agricultural activity for a large
percentage of their income have higher scores, compared with non-board members and members who are less
dependent on agricultural activity (with a statistical significance of 1% and 5%, respectively). We also find that
members who agree in more with the admission of new members, who think it is easy to recover their investments
and who want to stay longer in the cooperative are those who are more willing to invest and to exert control.
Furthermore, we find that members that prefer to have a participation in the assembly proportional to their contribution
and that prefer that the cooperative diversifies more are those who are more willing to invest. In addition, control is
favoured by members pertaining to the cooperative for a large period and for those members who think that investing
in the cooperative is a high risk and who prefer long-term investments. Finally, directors are more willing to invest
and to exert control.[ESP]Este trabajo examina la relación socio-cooperativa agraria desde el punto de vista de las teorías de la agencia y
los derechos de propiedad. La muestra analizada incluye 277 encuestas personales realizadas a los socios de las cooperativas
agrarias de la Región de Murcia (España). Los resultados muestran que los niveles de valoración de los
objetivos que se pueden alcanzar en la cooperativa y de satisfacción de los socios superan 6,9 sobre 10 en todas las
cuestiones planteadas. Tanto para los objetivos como para el nivel de satisfacción, los miembros del consejo rector
y los socios cuyo porcentaje de ingresos dependen en mayor medida de la actividad agraria presentan mayores valores
(con una significación del 1 y 5% respectivamente). También encontramos los socios que están de acuerdo con
la entrada de nuevos cooperativistas, que piensan que resulta fácil recuperar las aportaciones y que tienen intención
de permanecer más tiempo en la cooperativa están más incentivados a la hora de invertir y de ejercer el control. Adicionalmente,
se observa que aquellos que desean una participación proporcional a la aportación, y que desean diversificar
más son los que están más dispuestos a realizar inversiones. Por otro lado, el control se ve favorecido por
aquellos miembros más antiguos, o que piensan que invertir en la cooperativa supone un elevado riesgo o que prefieren
inversiones a largo plazo. Finalmente, los consejeros se encuentran más incentivados a invertir y a realizar el
control.
%K Economía, Sociología y Política Agraria
%K Control
%K Inversión
%K Objetivos y satisfacción de los miembros
%K Investment
%K Objectives and satisfaction
%~ GOEDOC, SUB GOETTINGEN