Download or read book Equity Retirement and Other Determinants Impact on Return on Equity in US Local Farm Supply and Grain Marketing Cooperatives written by Christina Ruberson Stander and published by . This book was released on 2021 with total page 0 pages. Available in PDF, EPUB and Kindle. Book excerpt: The environment surrounding cooperatives is evolving and becoming more challenging due to financial concerns stemming from a turbulent agricultural economy, trade uncertainty, and the need to update infrastructure. In addition, cooperatives are financed differently than typical agribusinesses which makes financial decision making even more challenging. To remain competitive and successful in profitability, cooperatives need to operate with efficient assets and sound financial decisions regarding investments, business dealings, and equity. This study analyzes the profitability of cooperatives utilizing 5 different regression models. The first model uses more current cooperative data to update the article by Boyd, Boland, Dhuyvetter, and Barton (2007), which focuses on the financial ratios and performance measures of current ratio (CR), assets-to-equity (ATE), lagged return on equity (ROE), net profit margin (NPM), asset turnover (AT), times-interest-earned (TIE), risk, and total assets (Assets) and their impact on ROE. Four additional models are used in this study to explore the relationship between retiring equity back to patrons and ROE. The added variables are equity retirement as reported by cooperatives, a state interaction term which is a dummy variable that is set to 1 if a state has a law requiring equity retirement upon death of the member. The results find there are four statistically significant variables at the .10 level in all the models that impact future ROE which are lagged inverted current ratio (CRinv), lagged Assets-to-equity (ATE), lagged ROE, and lagged Net Profit Margin (NPM). The results between Boyd et al. and this study are results in relation to the profitability ratios and liquidity ratios. Lagged ROE and NPM are the profitability variables that impact future ROE in a positive manner as do lower levels of liquidity demonstrated by the variable CRinv. A difference from Boyd et al. (2007) is the result that higher leverage ratios demonstrated by ATE, are correlated with an increase in future profitability. This difference warrants additional research to discover the potential reason. Equity retirement was shown to have no effect on future ROE. However, adding "net" allocated equity corresponds with higher future profitability. The analysis found that cooperatives within states with legislation requiring them to retire equity would have lower future ROE, on average, than cooperatives in states with no legislation.
Download or read book Handbook of Research on Cooperatives and Mutuals written by Matthew S. Elliott and published by Edward Elgar Publishing. This book was released on 2023-02-14 with total page 593 pages. Available in PDF, EPUB and Kindle. Book excerpt: This incisive Handbook provides a global update on the state of knowledge in cooperatives and mutuals, expertly describing future directions for research and education. Showcasing extensive discussions of cooperative theory, Matthew S. Elliott and Michael A. Boland, and the contributors, assess cooperatives' social, economic and environmental effects and analyse the impact of regional and cultural features that make cooperatives unique.
Download or read book Income Tax Treatment of Cooperatives Handling of losses written by Donald A. Frederick and published by . This book was released on 1993 with total page 108 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book Equity Redemption Practices of Local Grain Marketing Cooperatives in Illinois written by Kevin Bruce Lewis and published by . This book was released on 1979 with total page 172 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book Equity Redemption Guide written by and published by . This book was released on 1983 with total page 16 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book Returns to Equity Capital by Economic Class of Farm written by J. Bruce Hottel and published by . This book was released on 1976 with total page 72 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book Closing the Gap in a Generation written by WHO Commission on Social Determinants of Health and published by World Health Organization. This book was released on 2008 with total page 257 pages. Available in PDF, EPUB and Kindle. Book excerpt: Social justice is a matter of life and death. It affects the way people live, their consequent chance of illness, and their risk of premature death. We watch in wonder as life expectancy and good health continue to increase in parts of the world and in alarm as they fail to improve in others.
Download or read book Staff Paper written by and published by . This book was released on 2007-04 with total page 46 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book Patronage Dividends in Cooperative Grain Companies written by John Regester Humphrey and published by . This book was released on 1916 with total page 12 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book Equity Redemption Practices written by and published by . This book was released on 1998 with total page 20 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book ACS Research Report written by and published by . This book was released on 1980 with total page 56 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book Rural Wealth Creation written by John L. Pender and published by Routledge. This book was released on 2014-06-05 with total page 328 pages. Available in PDF, EPUB and Kindle. Book excerpt: This book investigates the role of wealth in achieving sustainable rural economic development. The authors define wealth as all assets net of liabilities that can contribute to well-being, and they provide examples of many forms of capital – physical, financial, human, natural, social, and others. They propose a conceptual framework for rural wealth creation that considers how multiple forms of wealth provide opportunities for rural development, and how development strategies affect the dynamics of wealth. They also provide a new accounting framework for measuring wealth stocks and flows. These conceptual frameworks are employed in case study chapters on measuring rural wealth and on rural wealth creation strategies. Rural Wealth Creation makes numerous contributions to research on sustainable rural development. Important distinctions are drawn to help guide wealth measurement, such as the difference between the wealth located within a region and the wealth owned by residents of a region, and privately owned versus publicly owned wealth. Case study chapters illustrate these distinctions and demonstrate how different forms of wealth can be measured. Several key hypotheses are proposed about the process of rural wealth creation, and these are investigated by case study chapters assessing common rural development strategies, such as promoting rural energy industries and amenity-based development. Based on these case studies, a typology of rural wealth creation strategies is proposed and an approach to mapping the potential of such strategies in different contexts is demonstrated. This book will be relevant to students, researchers, and policy makers looking at rural community development, sustainable economic development, and wealth measurement.
Download or read book How to Start a Cooperative written by United States. Department of Agriculture. Economics, Statistics, and Cooperatives Service and published by . This book was released on 1979 with total page 60 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book Dividend and Patronage Refund Policies of Selected Farmers Cooperatives in Wisconsin written by Violeta (Cendana) Saguin and published by . This book was released on 1967 with total page 100 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book Transferability of Equities of Oregon Agricultural Marketing and Supply Cooperatives written by John Richard Valpey and published by . This book was released on 1978 with total page 188 pages. Available in PDF, EPUB and Kindle. Book excerpt: This thesis, although dealing specifically with Oregon Agricultural cooperatives, has significance for agricultural cooperatives on a national basis when discussing equity financing. The central issue is whether a patron may in effect transfer his cooperative equity holding to another person without impairing the total function of the cooperative? To answer this question it is necessary to further define the nature of cooperative equities and also provide clearer information into the legal, tax, accounting and operational techniques used in cooperative equity financing. This study examined cooperative bylaws which make specific references to the handling of equities including transfers under different circumstances. The Internal Revenue Code provisions and specific IRS rulings with regard to equity issuance, transfer and redemption are dealt with in depth and summarized into probable tax consequences. Securities regulation with respect to cooperative equity allocations are also examined. Existing statute and regulation as well as proposed reforms are reviewed and summarized. Alternate methods of equity transfers are then identified and analyzed with respect to cash flow and taxation. Alternate methods of equity transferability are identified and thoroughly analyzed with respect to taxation, investment opportunity and cash flow. Comparative illustrations are utilized to present differences in holding various equities versus transferring equities at a discounted value given assumptions of tax rates, investment opportunities, revolving periods, etc. In conclusion, a number of decision criteria must be considered prior to evaluating a program of equity transferability which are as follows: 1) Cash Needs of Patrons - Cooperative patrons generally have a need for on-farm capital and may face a substantial opportunity cost in holding equities. 2) Distribution of Equity Holding - Certain patrons may be personally well-capitalized and willing to finance equity holding while undercapitalized patrons, former patrons, and estates of deceased patrons may seek to redistribute equity holdings. 3) Establishment of a Market - Methods and standards of equity valuation in transfer which could be established in a market may lead to both beneficial and costly effects for the cooperative and patron in both the long and short term. 4) Cooperative Benefits - A number of benefits accrue to the patron through operation of a cooperative such as the effect on the market structure, economies of scale, farmer participation in ownership and control, etc. These benefits should be understood and evaluated when considering tradeoffs caused through potential costs associated with equity transferability. 5) External Considerations - Perhaps the most important single factor is the effect of costs associated with potential alteration of government control or regulation of cooperative taxation, securities regulation, and marketing practices. Recommendations in the area of equity transferability are intended to improve cooperative service and response to cash needs of patrons while limiting cooperative exposure to adverse or costly regulation. It is suggested that a judicious program of equity transferability may be feasible for "tax-exempt" (as defined by I.R.S.) cooperatives. Cooperative bylaws and operating procedures should be reviewed to assure the handling of transfers, the scope of transferability, the rights of non-patron equity holders, and adequate disclosure of information meets the approval of directors and/or legal counsel in limiting potential problem areas. Consideration is also given to alternate capital programs and methods of equity distribution which may meet both cooperative and patron goals.
Download or read book Legal Determinants of the Return on Equity written by Davide Lombardo and published by . This book was released on 1999 with total page 72 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book Shock Waves written by Stephane Hallegatte and published by World Bank Publications. This book was released on 2015-11-23 with total page 227 pages. Available in PDF, EPUB and Kindle. Book excerpt: Ending poverty and stabilizing climate change will be two unprecedented global achievements and two major steps toward sustainable development. But the two objectives cannot be considered in isolation: they need to be jointly tackled through an integrated strategy. This report brings together those two objectives and explores how they can more easily be achieved if considered together. It examines the potential impact of climate change and climate policies on poverty reduction. It also provides guidance on how to create a “win-win†? situation so that climate change policies contribute to poverty reduction and poverty-reduction policies contribute to climate change mitigation and resilience building. The key finding of the report is that climate change represents a significant obstacle to the sustained eradication of poverty, but future impacts on poverty are determined by policy choices: rapid, inclusive, and climate-informed development can prevent most short-term impacts whereas immediate pro-poor, emissions-reduction policies can drastically limit long-term ones.
