Risk and the miller equilibrium: Capital structure choice with risk-averse investors

The impact of cooperatives' risk aversio

The impact of cooperatives' risk aversion and equity capital constraints on their inter-firm consolidation and collaboration strategies—with an empirical study of the European dairy industry

✍ Dirk van der Krogt; Jerker Nilsson; Viggo Høst 📂 Article 📅 2007 🏛 John Wiley and Sons 🌐 English ⚖ 157 KB 👁 2 views

## Abstract This article concludes that cooperative firms' choice of interfirm consolidation and collaboration strategies can be explained by two attributes, inherent in the cooperative business form, namely, risk aversion and equity capital constraints. Empirical data originate from the 15 largest