Sources of Financial Stress in Agricultural Cooperatives

Financial stress in agricultural cooperatives may be due to a combination of three factors: inadequate profitability, excessive debt, or high interest rates. This paper uses an analytical technique to determine the relative degree of financial stress in agricultural cooperatives attributable to each factor. Roughly 30 percent of agricultural cooperatives in our sample suffered financial stress from 1987 through 1992. The analysis indicates that the greatest portion of financial stress, 54 percent, originated from low earnings. High interest rates accounted for roughly 24 percent of the financial stress while leverage accounts for the remaining 22 percent. The results also indicate that smaller cooperatives are more than twice as likely to face financial stress than larger cooperatives. Small cooperatives are more likely to face profitability problems whereas large cooperatives are more likely to face debt and interest rate problems.Agribusiness, Agricultural Finance,

Search for top quark partners with charge 5/3 in proton-proton collisions at √s=13 TeV

A search for the production of heavy partners of the top quark with charge 5/3 (X-5/3) decaying into a top quark and a W boson is performed with a data sample corresponding to an integrated luminosity of 2.3 fb(-1), collected in proton-proton collisions at a center-of-mass energy of 13 TeV with the CMS detector at the CERN LHC. Final states with either a pair of same-sign leptons or a single lepton, along with jets, are considered. No significant excess is observed in the data above the expected standard model background contribution and an X-5/3 quark with right-handed (left-handed) couplings is excluded at 95% confidence level for masses below 1020 (990) GeV. These are the first limits based on a combination of the same-sign dilepton and the single-lepton final states, as well as the most stringent limits on the X-5/3 mass to date

Sources of Financial Stress in Agricultural Cooperatives

Financial stress in agricultural cooperatives may be due to a combination of three factors: inadequate profitability, excessive debt, or high interest rates. This paper uses an analytical technique to determine the relative degree of financial stress in agricultural cooperatives attributable to each factor. Roughly 30 percent of agricultural cooperatives in our sample suffered financial stress from 1987 through 1992. The analysis indicates that the greatest portion of financial stress, 54 percent, originated from low earnings. High interest rates accounted for roughly 24 percent of the financial stress while leverage accounts for the remaining 22 percent. The results also indicate that smaller cooperatives are more than twice as likely to face financial stress than larger cooperatives. Small cooperatives are more likely to face profitability problems whereas large cooperatives are more likely to face debt and interest rate problems