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Wiley, Journal of Agricultural Economics, 3(56), p. 385-397, 2005

DOI: 10.1111/j.1477-9552.2005.00027.x

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Testing for the Presence of Financial Constraints in US Agricultural Cooperatives: An Investment Behaviour Approach

Journal article published in 2005 by Fabio R. Chaddad, Michael L. Cook, Thomas Heckelei ORCID
This paper is available in a repository.
This paper is available in a repository.

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Abstract

This study examines the presence of financial constraints in US agricultural cooperatives. We test the cooperative capital constraint hypothesis with a panel data econometric analysis of agricultural cooperatives’ investment behaviour. Regression results suggest that agricultural cooperatives’ capital expenditures are significantly affected by the availability of internal funds. Results also indicate that the sensitivity of investment to cash flow is correlated with cooperative structural characteristics.