The key role of banks in the lifecycle of Bordeaux wine cooperatives
2018
Cadot, Julien | Ugaglia Alonso, Adeline | ISG paris | Santé et agroécologie du vignoble (UMR SAVE) ; Institut National de la Recherche Agronomique (INRA)-Université de Bordeaux (UB)-Institut des Sciences de la Vigne et du Vin (ISVV)-Ecole Nationale Supérieure des Sciences Agronomiques de Bordeaux-Aquitaine (Bordeaux Sciences Agro)
International audience
Afficher plus [+] Moins [-]anglais. In this article, we investigate a possible conflict between two core objectives of cooperatives, members' income, and continuity, by examining the link between debt and the price paid to producers for Bordeaux wine cooperatives, according to their downstream strategies: (1) the traditional strategy, which is to sell wine in bulk to negociants; (2) joining a federation of cooperatives which blends and puts the wine in the retail market; and (3) vertical integration. We show that downstream strategies are related to different lending regimes, making the relationship between banks and cooperatives a key issue for the lifecycle of cooperatives.
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