Brief Summary of Minutes of Annual Meeting

NCERA194: Improving the management and effectiveness of cooperatively owned business organizations Project/Activity Number: NCERA194 Project Title: Improving the management and effectiveness of cooperatively owned business organizations. Period Covered: January 1, 2006 to December 31, 2006 Date of This Report: March 5, 2007 Annual Meeting Dates: Tuesday, November 2, 2006 Participants: " Chair: Phil Kenkel Department of Agricultural Economics Oklahoma State University Stillwater OK 74075 " Vice-Chair & Secretary: Shermain Hardesty Department of Agricultural and Resource Economics University of California Davis, CA 95616 " Treasurer: Michael Boland Department of Agricultural Economics Kansas State University Manhattan KA 66506 " Attendance: There were 19 individuals in attendance, 15 NCERA-194 members and 4 other individuals (graduate students, guests) " NCERA-194 Members in Attendance: Michael Boland, Kansas State University Dennis Conley, University of Nebraska Shermain D. Hardesty, University of California-Davis Brian M. Henehan, Cornell University Brent Hueth University of Wisconsin-Madison Phil Kenkel, Oklahoma State University Rob King University of Minnesota Gregory McKee North Dakota State University Brian Oleson, University of Manitoba Chris Peterson, Michigan State University Ron Rainey University of Arkansas Anne Reynolds, University of Wisconsin-Madison Center for Cooperatives Bruce Reynolds, USDA Cooperative Services-Cooperative Programs Todd Schmit, Cornell University, Evert Van der Sluis, South Dakota State University " Other Individual Attending Stephen Davis, Southwestern Minnesota State University, Tyler Gilkey, University of Nebraska, Kathy Lang, University of Saskatchewan, Lynn Pitman, University of Wisconsin-Madison Brief summary of minutes of annual meeting: Minutes of the Business Meeting of NCERA-194, Research on Cooperatives Tuesday, November 2, 2006, Sheraton Bloomington Hotel, Minneapolis, Minnesota " Call to Order: Chairman Phil Kenkel called the meeting to order at 4:30 p.m. " Approval of minutes from the 2005 Annual Meeting: Chair Phil Kenkel distributed the 2005 meeting minutes. A motion to approve the minutes was made by Brian Henehan and seconded by Shermain Hardesty. Motion carried. " Nominating Committee Report: Michael Boland gave the nominating committee report. The committee recommended an officer slate consisting of: Shermain Hardesty-Chair, Gregory McKee-Vice Chair and Brent Hueth-Secretary. There were no further nominations from the floor. A motion to elect the recommended slate of officers by acclamation was made by Michael Boland and seconded by Evert Van de Sluis. Motion carried. " Treasurers Report: Mike Boland presented the financial report. Prior to the meeting expenses, the organization had a balance of $3176. Mike reported that 16 paid registrants for the 2006 meeting. He projected the balance after meeting expenses to be very close to the balance at the beginning of the year of $1,500. A motion to approve the financial report was made by Chris Peterson and seconded by Phil Kenkel. Motion carried. " Administrative Advisors Report: There was no Administrative Advisors Report since Sally Thompson was unable to attend. " Status of Journal of Cooperatives: Phil Kenkel led a discussion on the status of the Journal of Cooperatives. The proposed journal will be published electronically. It will be funded through page charges. Articles will be published as they come in; the journal needs to establish a consistent publication record to draw quality articles. Areas for articles include: research, case studies and teaching articles. Archived articles will be available through the NCERA-194 web site and JSTOR at no charge. Currently, there are four reviewed manuscripts awaiting publication. As editor, Phil plans to rely heavily on the NCERA194 membership for reviewers. Access to back issues of Journal of Cooperatives is uncertain; NCFC holds the copyright. Numerous back issues of American Cooperation are also stored on an old server. " Cooperative Text Book Project: Mike Boland led a discussion on the cooperative text book project. The Farm Foundation and the CHS Foundation and The Cooperative Foundation have agreed to provide a total of $13,000 for the publication. Nationwide Foundation will also be asked to provide support. Dave Barton has agreed to hammer out the revisions by holding a two day retreat. He has approached individuals to fill in the holes and is looking for more volunteers. The revisions will be forwarded to the reviewers. A Teachers Manual is also being developed. Mike Boland has agreed to edit the chapters into a more textbook-like style. " Student Registration Fees and Financial Support: Mike Boland reported that $2,000 of student participation funding was received from the CHS Foundation. Mike reported that 2 individuals received scholarships, Tyler Gilkey--University of Nebraska and a student from Texas who attended only the Farmer Cooperatives Conference. " Resolution of Appreciation: A motion thanking the CHS Foundation for their support of the meeting was made by Phil Kenkel and seconded by Shermain Hardesty. Motion carried. " 2007 Meeting Format: The format for the 2007 NCERA-194 Annual Meeting was discussed. After considering the possibility of linking the meeting with CHSs annual meeting, the group agreed to continue to link the conference with the Farmers Cooperative Conference. The general consensus was that holding NCRERA-194 immediately after the Farmers Cooperative Conference was preferable to before the conference. There was discussion about the low attendance at this years meeting, which was attributed to lack of travel funding for USDA staff and schedule conflicts for several NCERA 194 members and their graduate students. Shermain Hardesty agreed to get the group list-serve updated and to expand the list. There was discussion about participating in the combined meetings of the International Cooperative Alliance Committee on Cooperative Research, Canadian Association for Studies in Cooperation and the Association for Cooperative Educators in Saskatoon, Saskatchewan, Canada in May. However, there was general consensus that land grant universities would not fund travel to Canada. " A motion thanking Phil Kenkel for his dedicated service as chair was made by Evert Van der Sluis and seconded by Mike Boland. The motion was approved. " The meeting adjourned at 5:45 p.m. Accomplishments: Objective 1. To promote and coordinate timely research on cooperatively owned business organizations for agricultural marketing, agricultural input supply, vertical coordination through value added processing, and rural services. Accomplishments during 2006: " NCERA-194 has continued to facilitate collaboration and interaction among individuals conducting research on cooperatives. NCERA-194 members continue to be actively involved in joint research projects and cooperative agreements between USDA, Cooperative Services and the Land Grant institutions. " NCERA-194 members are making full use of the committees infrastructure to communicate the results of their research to each other. During 2006 NCERA-194 members disseminated research results during the annual meeting. NCERA-194 members also used the NCERA-194 web page and the list-server (described in more detail below) to communicate with each other. NCERA-194 members, as well as others interested in cooperatives, can access the selected papers presented at the each all meetings from the web page, which can be found at: http://www.agecon.ksu.edu/accc/ncr194/ncr%20publications.htm. Members also made use of the List Server (ncr-194-net@macc.wisc.edu) to facilitate communications among members. Messages sent to the list server are forwarded to all NCERA-194 participants. " A major effort for the NCERA-194 Committee was the preparation and submission of a research proposal for USDA, Rural Business Cooperative Services for a national study of the economic impact of cooperatives. The proposal was a joint effort of NCERA-194 members Phil Kenkel (Oklahoma State), Gregory McKee (North Dakota State) and Brian Henehan (Cornell University). The project led to a selected paper session and open forum discussion at the NCERA-194 2006 Annual Meeting. " Brent Hueth, the new Director of the Center for Cooperatives at University of Wisconsin-Madison, also utilized the NCERA-194 List Server to communicate with members on a proposal for the same USDA grant. He was recently awarded $.7 million for this project; other NCERA-194 participants are expected to be involved in this project. " NCERA member Michael Boland was awarded two grants from foundations to help provide support for a retreat to help complete the textbook. Seven NCERA-194 members have completed preliminary drafts of 21 chapters of the textbook. " Another major effort of the NCEAR-194 Committee was the re-activation of the Journal of Cooperatives. With the support of several NCERA-194 members, out-going NCERA-194 Chair Phil Kenkel arranged for the re-activation of the Journal of Cooperatives as an electronic journal and agreed to serve as its editor. " Other specific examples of collaboration include: o Research and case study initiated by Michael Boland at Kansas State on the economics of creating ethanol from sugar beet pulp with Gregory McKee at North Dakota State University. o Case studies written by Michael Boland on three local cooperatives in Kansas as well as Mountain States Lamb Cooperative (with Gary Brester at Montana State University), Sun-Maid Growers (with Dan Sumner at University of California), and Sunkist (California). The case study on Mountain States Lamb Cooperative is forthcoming in the Review of Agricultural Economics and the Sun-Maid Growers case is in review. Objective 2. To serve as a forum for industry and government decision makers in management and staff research positions to interact with land grant researchers and extension specialists to share research results and discuss implications for cooperative business organizations, their producer members, farm structure, efficiencies in food production and distribution, the environment and economic well being of rural communities. Accomplishments during 2006: " There were numerous collaborations among NCERA 194 members on education programs for cooperative directors. Member Mike Boland (Kansas State) collaborated with NCERA-194 member Phil Kenkel (Oklahoma State) by presenting his research on factors influencing the persistence of profits in local farm supply and marketing cooperatives at the Oklahoma Agricultural Cooperative Councils CEO and Board Retreat in Pottsboro Texas. " NCERA-194 members Phil Kenkel (Oklahoma State) and John Park (Texas A&M) helped organize an Invited Paper Session for the 2007 Southern Agricultural Economics Association Annual Meeting in Mobile Alabama, Feb 5-6, 2007. Drs. Kenkel and Park will author an invited paper Business Models and Producer Owned Ventures: Choices, Challenges and Changes. " Mike Boland and The Arthur Capper Cooperative Center (Kansas State University) conducted director development programs in Colorado, Indiana, Kansas, Michigan, Missouri, Montana, Ohio, and Wyoming. They conducted individual meetings for directors in North Dakota and Oklahoma. " Other Director Education programs were organized by NCERA members Joan Fulton (Purdue) and Susan Hine (Colorado State University) and James Pritchett (Colorado State University). Joan Fulton and Susan Hine have been developing materials for a new Director Training program for the Colorado Cooperative Council. After consultation with Susan Hine, member Shermain Hardesty (University of California) organized an education program for directors of agricultural cooperatives regarding opportunities for cooperatives created by Chinas economic growth. Member Joan Fulton (Purdue) conducted a one-day director training session for multi-state Mid America Cooperative Council in Indianapolis. " NCERA-194 member Shermain Hardesty (University of California) collaborated with USDA Cooperatives Specialist Julie Hoagland at the AAEA Annual Meeting on an Organized Symposium, "Cheating, Staying, Leaving: Cooperative Options. " The 2006 annual meeting of the NCERA-194 was held in the Sheraton Bloomington Hotel in Minneapolis, Minnesota on November 2-3, 2006, immediately following the Farmer Cooperatives Conference. Several NCERA-194 members served on the planning committee for the Farmer Cooperatives Conference, which is targeted at board members of agricultural cooperatives. This interaction strengthens relationships between academics and industry. Also, one of our members, Chris Petersen, serves on the board of directors for CoBank. " Attendance at NCERA-194s annual meeting included 19 individuals, 15 NCERA-194 members and 4 nonmembers. It consisted of a one-day forum, attended by USDA representatives as well as representatives from universities. " Seven research papers were presented at the meeting. Full text versions of all of the research papers and presentation slides were posted on the NCERA-194 web page which can be found at: http://www.agecon.ksu.edu/accc/ncr194/Default.htm. Topics of the papers presented included cooperative finance, new cooperative formation, characteristics of successful cooperatives and the economic impact of cooperatives. " Member Brian Henehan presented a paper, "Small-Scale Grower Cooperatives in the Northeast", summarizing the findings of a USDA Rural Business Service funded project and USDA RBS Research Report 210. " Another important objective of NCR-194 is to attract young individuals to cooperative development. Progress toward this objective was achieved during 2006 through the successful pursuit of $2,000 in scholarships to two students to participate in both the NCERA-194 meeting and the Farmers Cooperative Conference. NCERA-194 member Mr. William Nelson, representing the CHS Foundation, was instrumental in making scholarship funds available. The availability of the these scholarship funds further serves as an indication of the successful working relationships between NCERA-194 members working in industry and in academic settings. Summary: During 2006, NCERA-194 demonstrated numerous measurable outcomes consistent with the organizations stated purpose and objectives. Notable accomplishments included the annual meeting attended by 19 researchers and industry professionals, presentations of 7 research projects which were also disseminated in full text form on the NCERA-194 web site, the active use of the NCERA-194 list server to coordinate and facilitate on-going member research, specific multi-state research/educational efforts, revitalization of the Journal of Cooperatives and continuing development of a textbook on cooperatives. NCERA-194 continues to be an important vehicle for individuals of diverse backgrounds across North America to meet and explore ways in which research, education and outreach activities can enhance the development and survival of rural cooperatives. Impacts: " Education of cooperative boards of directors improved through jointly organized education programs conducted by NCERA members. Various members collaborated to conduct workshops in California, Colorado, Indiana, Kansas, Michigan, Missouri, Montana, Ohio, Oklahoma, Texas, and Wyoming. The programs focused on strategic thinking, finance, governance, and mergers. " Research proposals regarding cooperatives were facilitated; members developed two research proposals to USDA Rural Development for a national study of the economic impact of cooperatives. " Continuing development of a cooperative textbook for use in college and university courses was supported. Seven NCERA-194 members have completed preliminary drafts of 21 chapters of the textbook. NCERA-194 member Mike Boland was awarded funding from foundations to support a retreat to complete the textbook. " Committee members are reactivating the peer-reviewed journal, Journal of Cooperatives, under the leadership of the 2006 Committee Chair, Phil Kenkel. Publications: Anderson, B.L. and B. Henehan, "What Gives Agricultural Co-operatives a Bad Name?" International Journal of Co-operative Management. Vol. 2, No. 2. University of Leicester, Leicester, UK. December, 2005. Baarda, J. Current Issues in Cooperative Finance and Governance: Background and Discussion Paper (April, 2006) 196pp. Baarda, J. USDA/Co-op Partnership Aids Producer Quest for Market Power, Rural Cooperatives (July\August 2006) [Available at http://www.rurdev.usda.gov/rbs/pub/openmag.htm] Baarda, J. Needs and Justification for Supportive Cooperative Statutes. Memorandum. Response to inquiry on legal issues in Indian cooperative law, Mr. Rama Reddy, Hyderabad, Andreh Pradish, India (April 4, 2006) Barton, D. "Midway Co-op, Inc." Unpublished case study, Arthur Capper Cooperative Center, Kansas State University, (2006). Barton, D. "Farmers Cooperative Grain Association." Unpublished case study, Arthur Capper Cooperative center, Kansas State University, 2006. Barton, D. "Midland Co-op." Unpublished case study, Arthur Capper Cooperative center, Kansas State University, 2006. Boland, M.A. "Sun-Maid Growers." Review of Agricultural Economics, Resubmitted for 2nd review) Boyd, S., M.A., K. Dhuyvetter, and D. Barton. "The Persistence of Profitability in Local Farm Supply and Grain Marketing Cooperatives." Journal of Agricultural and Applied Economics, 2007 Boland, M.A., A.M. Bosse, and G.W. Brester. "Mountain States Lamb Cooperative." Review of Agricultural Economics, 29,1(2007):157-169. Boland, M.A. and T. Marsh. "Input Quality in the Sugar Beet Industry." Journal of Agricultural and Resource Economics 31,1(2006): 114-128. Boland, M.A. and David Barton. "Good-to-Great Local Farm Supply and Grain Marketing Cooperatives" NCERA-194 2006 Meeting presentation. November, 2006. Boland, M.A. "Agency Problems in Food Processing Firms and Cooperatives" NCERA-194 2006 Meeting presentation. November, 2006. Fulton, Murray and Kathy Lang. "Declining Economic Linkage: SWP Share Conversion Story" NCERA-194 2006 Meeting presentation. November, 2006. Gilkey, Tyler, Jeffrey Royer and Darrell Mark. "Equity Redemption in Cooperatives: Transitioning to a Revolving Fund" NCERA-194 2006 Meeting presentation. November, 2006. Gilkey, Tyler W., Jeffrey S. Royer, and Darrell R. Mark. "Equity Redemption in Cooperatives: Transitioning to a Revolving Fund Plan." Submitted to Agricultural Finance Review November 18, 2006. Hardesty, S.D. Alternative State Co-op Laws Broaden Investment Capital Sources. Rural Cooperatives Review, September 2006. Hilchey, D. Gillespie, and B. Henehan. "Small-Scale Grower Cooperatives in the Northeast", USDA RBS Research Report 210 August, 2006 Wash, DC Hueth, Brent. "Marketing Specialty Hogs: A Comparative Analysis of Two Firms from Iowa," with Maro Ibarburu and James Kliebenstein, Forthcoming, Review of Agricultural Economics, 2007. Hueth, Brent. "Information Sharing and Oligopoly in Agricultural Markets: The Role of Bargaining Associations," with Philippe Marcoul, Amer. J. Agri. Econ, 88(4), 2006. Hueth, Brent. "Information Transmission in Cattle Markets: A Case Study of the Chariton Valley Beef Alliance," with John Lawrence, 2006. J. of Agribusiness Kenkel, P. and R. B. Holcomb. Challenges to Producer Ownership of Ethanol and Biodiesel Production Facilities Agricultural and Applied Economics, Vol. 38, No. 2 July 2006. Kenkel, P. Evolving Credit Needs of Cooperatives and Producer-Owned Businesses invited paper for Farm Credit System Publication: Serving the Changing Financial Needs of American Farmers and Ranchers, 2005  2016 Feb. 2006. Kenkel P. and R. Holcomb, Feasibility of a Cooperative Winery selected paper at NCERA-194 2006 Annual Meeting, Minneapolis Mn. http://www.agecon.ksu.edu/accc/ncr194/Events/2006meeting/Winery06.pdf Kenkel, P. and R. Holcomb. "Feasibility of a Cooperative Winery" presentation. November, 2006. Mark, Darrell R., Jeffrey S. Royer, and Rik R. Smith. University of Nebraska-Lincoln Cooperative Analytical Simulation Tool (NebCAST): NebCAST Program with Instruction Guide. CD13. University of Nebraska-Lincoln Extension, 2006. McKee, G., P. Kenkel and B. Henehan. Challenges in Measuring the Economic Impact of Cooperatives selected paper at NCERA-194 2006 Annual Meeting, Minneapolis Mn. http://www.agecon.ksu.edu/accc/ncr194/Events/2006meeting/Challenges.pdf Gregory McKee, Phil Kenkel and Brian Henehan. "Challenges in Measuring the Economic Impact of Cooperatives" presentation. November, 2006. Pozo, V. and M.A. Boland. "Sunkist Growers." Review of Agricultural Economics, Submitted for review. Royer, Jeffrey S. "Cooperative Forward Integration in Oligopsonistic Markets: A Simulation Analysis of Incentives and Impacts" In Vertical Markets and Cooperative Hierarchies, edited by Jerker Nilsson and Kostas Karatininis. Springer, forthcoming. Royer, Jeffrey S., and Darrell R. Mark. "A New Tool for Analyzing Cooperative Equity Plans." Cornhusker Economics, April 19, 2006. Royer, Jeffrey S., and Darnell B. Smith. "Patronage Refunds, Producer Expectations, and Optimal Pricing by Agricultural Cooperatives." Journal of Cooperatives, forthcoming. Authorization: Electronic signature.

Anderson, B.L. and B. Henehan, "What Gives Agricultural Co-operatives a Bad Name?" International Journal of Co-operative Management. Vol. 2, No. 2. University of Leicester, Leicester, UK. December, 2005. Baarda, J. Current Issues in Cooperative Finance and Governance: Background and Discussion Paper (April, 2006) 196pp. Baarda, J. USDA/Co-op Partnership Aids Producer Quest for Market Power, Rural Cooperatives (July\August 2006) [Available at http://www.rurdev.usda.gov/rbs/pub/openmag.htm] Baarda, J. Needs and Justification for Supportive Cooperative Statutes. Memorandum. Response to inquiry on legal issues in Indian cooperative law, Mr. Rama Reddy, Hyderabad, Andreh Pradish, India (April 4, 2006) Barton, D. "Midway Co-op, Inc." Unpublished case study, Arthur Capper Cooperative Center, Kansas State University, (2006). Barton, D. "Farmers Cooperative Grain Association." Unpublished case study, Arthur Capper Cooperative center, Kansas State University, 2006. Barton, D. "Midland Co-op." Unpublished case study, Arthur Capper Cooperative center, Kansas State University, 2006. Boland, M.A. "Sun-Maid Growers." Review of Agricultural Economics, Resubmitted for 2nd review) Boyd, S., M.A., K. Dhuyvetter, and D. Barton. "The Persistence of Profitability in Local Farm Supply and Grain Marketing Cooperatives." Journal of Agricultural and Applied Economics, 2007 Boland, M.A., A.M. Bosse, and G.W. Brester. "Mountain States Lamb Cooperative." Review of Agricultural Economics, 29,1(2007):157-169. Boland, M.A. and T. Marsh. "Input Quality in the Sugar Beet Industry." Journal of Agricultural and Resource Economics 31,1(2006): 114-128. Boland, M.A. and David Barton. "Good-to-Great Local Farm Supply and Grain Marketing Cooperatives" NCERA-194 2006 Meeting presentation. November, 2006. Boland, M.A. "Agency Problems in Food Processing Firms and Cooperatives" NCERA-194 2006 Meeting presentation. November, 2006. Fulton, Murray and Kathy Lang. "Declining Economic Linkage: SWP Share Conversion Story" NCERA-194 2006 Meeting presentation. November, 2006. Gilkey, Tyler, Jeffrey Royer and Darrell Mark. "Equity Redemption in Cooperatives: Transitioning to a Revolving Fund" NCERA-194 2006 Meeting presentation. November, 2006. Gilkey, Tyler W., Jeffrey S. Royer, and Darrell R. Mark. "Equity Redemption in Cooperatives: Transitioning to a Revolving Fund Plan." Submitted to Agricultural Finance Review November 18, 2006. Hardesty, S.D. Alternative State Co-op Laws Broaden Investment Capital Sources. Rural Cooperatives Review, September 2006. Hilchey, D. Gillespie, and B. Henehan. "Small-Scale Grower Cooperatives in the Northeast", USDA RBS Research Report 210 August, 2006 Wash, DC Hueth, Brent. "Marketing Specialty Hogs: A Comparative Analysis of Two Firms from Iowa," with Maro Ibarburu and James Kliebenstein, Forthcoming, Review of Agricultural Economics, 2007. Hueth, Brent. "Information Sharing and Oligopoly in Agricultural Markets: The Role of Bargaining Associations," with Philippe Marcoul, Amer. J. Agri. Econ, 88(4), 2006. Hueth, Brent. "Information Transmission in Cattle Markets: A Case Study of the Chariton Valley Beef Alliance," with John Lawrence, 2006. J. of Agribusiness Kenkel, P. and R. B. Holcomb. Challenges to Producer Ownership of Ethanol and Biodiesel Production Facilities Agricultural and Applied Economics, Vol. 38, No. 2 July 2006. Kenkel, P. Evolving Credit Needs of Cooperatives and Producer-Owned Businesses invited paper for Farm Credit System Publication: Serving the Changing Financial Needs of American Farmers and Ranchers, 2005  2016 Feb. 2006. Kenkel P. and R. Holcomb, Feasibility of a Cooperative Winery selected paper at NCERA-194 2006 Annual Meeting, Minneapolis Mn. http://www.agecon.ksu.edu/accc/ncr194/Events/2006meeting/Winery06.pdf Kenkel, P. and R. Holcomb. "Feasibility of a Cooperative Winery" presentation. November, 2006. Mark, Darrell R., Jeffrey S. Royer, and Rik R. Smith. University of Nebraska-Lincoln Cooperative Analytical Simulation Tool (NebCAST): NebCAST Program with Instruction Guide. CD13. University of Nebraska-Lincoln Extension, 2006. McKee, G., P. Kenkel and B. Henehan. Challenges in Measuring the Economic Impact of Cooperatives selected paper at NCERA-194 2006 Annual Meeting, Minneapolis Mn. http://www.agecon.ksu.edu/accc/ncr194/Events/2006meeting/Challenges.pdf Gregory McKee, Phil Kenkel and Brian Henehan. "Challenges in Measuring the Economic Impact of Cooperatives" presentation. November, 2006. Pozo, V. and M.A. Boland. "Sunkist Growers." Review of Agricultural Economics, Submitted for review. Royer, Jeffrey S. "Cooperative Forward Integration in Oligopsonistic Markets: A Simulation Analysis of Incentives and Impacts" In Vertical Markets and Cooperative Hierarchies, edited by Jerker Nilsson and Kostas Karatininis. Springer, forthcoming. Royer, Jeffrey S., and Darrell R. Mark. "A New Tool for Analyzing Cooperative Equity Plans." Cornhusker Economics, April 19, 2006. Royer, Jeffrey S., and Darnell B. Smith. "Patronage Refunds, Producer Expectations, and Optimal Pricing by Agricultural Cooperatives." Journal of Cooperatives, forthcoming.