Willingness to invest on agricultural cooperatives: The role of membership’s heterogeneity and opportunism

Gustavo Marcos Matás, Miguel Hernández Espallardo, Narciso Arcas Lario

Abstract

In agri-food cooperatives, heterogeneity and opportunism among their members are issues that must be solved in order to develop appropriate strategies and gather necessary investments. We propose a model where willingness to invest is explained as a consequence of the perception of opportunism and the different forms of heterogeneity. The results of our empirical model allow us to highlight the importance of some kinds of heterogeneity in affecting opportunism and, ultimately, the willingness to invest in the cooperative. The latter is of capital importance to cooperatives’ growth. Empirical observation of the direct and mediator role of opportunism is a finding with managerial implications.

Keywords

Agri-food cooperatives; Willingness to invest; Heterogeneity; Opportunism; Members

Subject classification

M31, P13, Q13.

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