Merger as a Formula to Establish European Cooperative Societies

Council Regulation (EC) No 1.435/2003, of 22 July 2003, concerning the European Co-operative Statute (ECS), constitutes the legal basis for the creation of european cooperatives, facilitating the development of their cross-border activities and contributing to their economic development. So, the aim of this regulation is to enable the creation of European cooperatives by physical persons or legal entities resident or established under the laws of different Member States, but it also makes possible the establishment of European cooperatives by merger or transformation of existing cooperatives from different Member States. The aim of this paper is to show the specific features of formation of crossborder cooperatives by merger, covered by the ECS, with special attention to those aspects that distance them from the internal formation by merger, within the Spanish legal framework. For the purpose of comparison, Spain will be considered as regards the regulations governing mergers, depending on whether the ECS or the Spanish Cooperative Law is taken into consideration.Statute for a European Cooperative Society, Spanish cooperative regulation, cooperative mergers, crossborder activity, Agribusiness,

Does post merger financial performance improve after agrifood mergers of cooperatives? An empirican analysis

This study was carried out to characterize the mergers and acquisitions undertaken in the Spanish agrifood sector during the period 1995-2005 and has two objectives. Firstly, it aims to determine the manner in which economic-financial factors influence the type of merger carried out (merger by formation of a new legal person and merger by acquisition), and the role played by cooperatives (acquirer, acquired or cooperative involved in a merger by formation). Secondly, it aims to determine whether these mergers have contributed to reaching any of the objectives they were set out to achieve: improving the economic-financial situation of the companies involved, increasing income and reducing relative costs. The results obtained show that on average, following a merger, there were no statistically significant improvements in the economic-financial indicators studied.Agribusiness, Agricultural Finance,

STRATEGIES DEVELOPED BY LEADING EU AGRI-FOOD COOPERATIVES IN THEIR GROWTH MODEL

The rationale for this paper is the problem relating to the growth of agricultural cooperatives in Spain in recent years in comparison to increasingly concentrated food distribution, which captures most of the value added. This paper analyses the evolution and status of other countries within Europe where the need for business consolidation has been successfully addressed. For this purpose, there have been identified 7 cases to be studied: Kerry group, Irish Dairy Board, Arla Foods, The Greenery BV, Danish Crown, Agrifirm and DLG. The specific results of interviews with the senior management of this cooperatives were analyzed and organized into four blocks in which the issues raised are grouped (legal and institutional framework, strategic vision, business growth models and market standing). A number of specific aims are also pursued:  Identify the main barriers and problems faced by this type of cooperatives.  Show the strategies developed by leading cooperatives in their sector within the current comparative context.  Become familiar with the different growth models these cooperatives use to achieve and maintain their market standing.Agribusiness,

Crisis económica: La economía social como respuesta

Julia-Igual, J.; Melia-Marti, E. (2011). Crisis económica: La economía social como respuesta. Cuadernos Electrónicos Iberoamericanos: Mutualismo y Economía Social. (4):1-11. http://hdl.handle.net/10251/108621S111

Why Do Agricultural Cooperative Mergers Not Cross the Finishing Line?

[EN] Mergers have played a relevant role in the business development of many agri-food cooperatives and have led to the consolidation of large cooperative groups which are leaders in their respective business sectors. However, many of the merger processes undertaken fail: some are aborted at the negotiation stage, and others are not approved by members. These failures entail financial and social costs due to frustrated expectations and the time invested in the negotiation process. The objective of this paper is to establish the economic, socio-cultural, organisational and process management factors that underlie this outcome. A survey was conducted among the directors and administrators of a sample of Spanish agri-food cooperatives that had participated in merger processes which were aborted at the negotiation stage or were not approved by their members. Factor and discriminant analyses established the aspects which had the greatest impact on the failure of the merger processes. Far from being economic factors, these analyses reveal that defensive localisms, a lack of commitment to the merger on the part of members and directors, and communication failures were more significant.Melia-Marti, E.; Lajara-Camilleri, N.; Martínez-García, A.; Julia-Igual, J. (2021). Why Do Agricultural Cooperative Mergers Not Cross the Finishing Line?. Agriculture. 11(11):1-19. https://doi.org/10.3390/agriculture11111173S119111

Internet,cooperativismo agrario y desarrollo rural. El caso de las cooperativas de la Comunidad valenciana

[ES] La aplicación de de las nuevas tecnologías a través de Internet, cuyos servicios conforman la denominada Sociedad de la Información y del Conocimiento, son un elemento clave para la cohesión territorial y la vertebración socioeconómica, aunque es imprescindible el impulso y apoyo de los poderes públicos, de las empresas tecnológi - cas y de los propios habitantes de las zonas rurales. En este contexto, las cooperativas agrarias pueden realizar un destacado papel, basándose en sus propios prin - cipios, porque son empresas ligadas al territorio, que ejercen liderazgo en la economía de su zona de influencia, contribuyendo así al desarrollo rural. Concretamente, alrededor del 70% de las cooperativas agrarias de la Comunidad Valenciana se encuentran en municipios de menos de 10.000 habitantes. Sin embargo, se constata una escasa presencia en Internet de las cooperativas de primer grado del sector agrario, las más numerosas y vinculadas más directamente al ámbito rural. En la provincia de Valencia, apenas un 10% dispone de página Web con modestos valores de popularidad y cen - tradas exclusivamente en la descripción de su actividad empresarial, sin ahondar aún lo suficiente en las potencia - lidades que esta herramienta de Internet pone al servicio de las cooperativas y el desarrollo rural.[FR] L'application des nouvelles technologies par le biais d'Internet, dont les services sont conformes à la dite Société de l'Information et de la Connaissance, constituent un élément clef pour la cohésion territoriale et la structuration socio-économique, bien qu'une impulsion et un soutien des pouvoirs publics, des entreprises technologiques et des habitants dans les zones rurales soit indispensable. Dans ce contexte, les coopératives agricoles peuvent jouer un rôle remarquable, en se fondant sur leurs propres principes, car ce sont des entreprises attachées au territoire, qui exercent le leadership dans l'économie de sa zone d'influence, en contribuant ainsi au développement rural. Concrètement, près de 70 % des coopératives agricoles de la Communauté valencienne se trouvent dans des communes de moins de 10 000 habitants. Néanmoins, on constate une faible présence sur Internet des coopératives de premier degré dans le secteur agricole, les plus nombreuses et les plus directement liées au cadre rural. Dans la province de Valence, à peine 10 % dispose d'une page Web avec une popularité assez faible et exclusivement centrée sur la description de leur activité professionnelle, sans creuser suffisamment les potentialités que cet outil d'Internet met à la disposition des coopératives et du développement rural.[EN] The application of new technologies through the Internet -services that constitute the Information and Knowledge Society- is a key factor in territorial cohesion and socio-economic structuring, although the encouragement and support of the public authorities, technology companies and the inhabitants of rural areas themselves is also essential. Within this context, agricultural cooperatives can play an important role, based on their own principles, as they are companies with strong connections in the region and with a leading role in the economy of their area of influence, thus contributing to rural development. In fact, approximately 70% of the agricultural cooperatives in the Valencia Region are based in towns of less than 10,000 inhabitants. However, very few of the first-degree cooperatives in the agricultural sector, the most numerous cooperatives that are most directly linked with the rural environment, are on the Internet. In the province of Valencia, not even 10% have their own Website, and those that do have modest levels of popularity and focus entirely on describing their business activity, without sufficiently exploring the potential of this Internet tool for cooperatives and rural development.Julia-Igual, J.; García-Martínez, G.; Melia-Marti, E. (2006). Internet,cooperativismo agrario y desarrollo rural. El caso de las cooperativas de la Comunidad valenciana. CIRIEC-España revista de economía pública social y cooperativa. (55):221-253. http://hdl.handle.net/10251/2022162212535

The internal government of the largest Spanish agri-food cooperatives and their relationship with performance

[ES] El presente estudio pretende analizar la relación existente entre las estructuras de gobierno de las mayores cooperativas agroalimentarias españolas y sus resultados empresariales, para comprobar -si al igual que se ha demostrado en estudios recientes sobre cooperativas agroalimentarias europeas-, las cooperativas que muestran una mayor innovación en sus estructuras de gobierno (en aspectos tales como la profesionalización de la gestión, inclusión de voto proporcional o presencia de expertos externos en los Consejos Rectores o Supervisores), presentan mejores resultados que las cooperativas que no poseen dichos atributos. Los resultados obtenidos corroboran que el rendimiento (medido en facturación por socio) de las cooperativas agroalimentarias españolas analizadas se ve afectado positivamente por la introducción de algunas innovaciones en sus sistemas de gobierno interno, como es el caso de la inclusión de expertos externos en el Consejo Rector y en el Consejo Supervisor. Además, el estudio arroja otras conclusiones vinculadas con la envergadura o dimensión de la cooperativa, constatándose que las cooperativas de mayor dimensión (medida en este caso por el volumen de activos) son capaces de proporcionar un mayor y significativo rendimiento; a diferencia de lo que ocurre con el número de socios, cuyo efecto en el rendimiento es significativo y negativo.Melia-Marti, E.; Carnicer-Andres, M.; Julia-Igual, J. (2017). El gobierno interno de las mayores cooperativas agroalimentarias españolas y su relación con el rendimiento. REVESCO. REVISTA DE ESTUDIOS COOPERATIVOS. 124:98-113. https://doi.org/10.5209/REVE.54924S9811312

Limb-girdle muscular dystrophy 1F is caused by a microdeletion in the transportin 3 gene

In 2001, we reported linkage of an autosomal dominant form of limb-girdle muscular dystrophy, limb-girdle muscular dystrophy 1F, to chromosome 7q32.1-32.2, but the identity of the mutant gene was elusive. Here, using a whole genome sequencing strategy, we identified the causative mutation of limb-girdle muscular dystrophy 1F, a heterozygous single nucleotide deletion (c.2771del) in the termination codon of transportin 3 (TNPO3). This gene is situated within the chromosomal region linked to the disease and encodes a nuclear membrane protein belonging to the importin beta family. TNPO3 transports serine/arginine-rich proteins into the nucleus, and has been identified as a key factor in the HIV-import process into the nucleus. The mutation is predicted to generate a 15-amino acid extension of the C-terminus of the protein, segregates with the clinical phenotype, and is absent in genomic sequence databases and a set of >200 control alleles. In skeletal muscle of affected individuals, expression of the mutant messenger RNA and histological abnormalities of nuclei and TNPO3 indicate altered TNPO3 function. Our results demonstrate that the TNPO3 mutation is the cause of limb-girdle muscular dystrophy 1F, expand our knowledge of the molecular basis of muscular dystrophies and bolster the importance of defects of nuclear envelope proteins as causes of inherited myopathies

El derecho de separacion del socio cooperativista en la fusion de cooperativas. Efectos de la reforma de la norma contable en estos procesos

En este trabajo se abordan las principales particularidades asociadas al regimen del derecho de separacion de los socios disconformes en un proceso de fusion cooperativa. Al mismo tiempo, ante la reciente aprobacion del nuevo Plan General Contable, aprobado por Real Decreto 1514/2007, de 16 de noviembre de 2007, se analizan las repercusiones que en los distintos ambitos (economico-financiero y social) tendra la aplicacion obligatoria del metodo de adquisicion en la contabilidad de las fusiones de cooperativas...In this piece of work they are analyzed the principal particularities associated with the resignation right regime of the dissatisfied members in a merger process between cooperatives. At the same time, in view of the Recent adoption of the new Accountant General Plan, approved by Royal Decree 1514/2007 of 16 November 2007, we analyze the impact of obligatory application of the acquisition method on accounting mergers of cooperatives

La concentración empresarial en cooperativas agrarias. Formulación de un modelo económico para los acuerdos de fusión

La necesidad por parte de las cooperativas agrarias de disponer de estructuras viables que les permitan incrementar su poder de negociación y competitividad las ha conducido a abordar con decisión múltiples procesos de integración, y entre ellos el de fusión. Este proceso plantea serias dificultades en la determinación de una relación de proporcionalidad entre los patrimonios aportados, derivadas de su régimen económico-jurídico, y muy especialmente del carácter irrepartible de gran parte de sus reservas. Descrita la problemática de estas sociedades ante una fusión, en este trabajo se plantea un modelo que permite ejecutar estos procesos con fiabilidad, y en virtud del cual se establecen las valoraciones patrimoniales procedentes y las cuotas o aportaciones a realizar por las cooperativas participantes en una fusión, de forma que quede garantizado un reconocimiento patrimonial justo y acorde con la realidad para las mismas y para sus socios...The agricultural co-operatives need of building viable structures, in order to increase their power of negociation and their competitiveness, has led them to undertake integration processes, and specially, mergers. Their economic and juridical regime, and particularly the impossibility of distributing their reserves, implies several difficulties to merger processes, such as the statement of a proportional ratio between their patrimonies. In this paper, we formulate a model to carry out these processes in a reliable way. The model sets the necessary patrimony valuations and the economic contributions that the co-operatives involved in a merger need to take in order to guarantee a fair valuation for them and for their partners