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Chain interdependencies, measurement problems and efficient governance structure: cooperatives versus publicly listed firms

L. Feng ; G.W.J. Hendrikse |

Dans European review of agricultural economics [Papier] (vol. 39, n. 2, April 2012)

We determine the circumstances when the absence of public listing, often believed to be a disadvantage, makes a cooperative the unique efficient governance structure. This is established in a multi-task principal–agent model, capturing that coop[...]

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