| Abstract |
In recent years, several large dairy cooperatives in Ireland have been
restructured in various ways into investor-oriented corporations (public
limited companies). A primary reason advanced by leadership of these cooperatives
for going the PLC route was that additional capital was required, and members
were unwilling to invest that additional capital. The attitude of members
toward cooperative investment appeared to have eroded because the principle
of current active member ownership appeared to have been ignored. Net income
was not allocated, and equity redemption policies were not in place. The
argument is advanced that member investment in cooperatives can be given
new incentives by bringing some dynamics to the principle of current active
patron-member ownership. |
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