• Corpus ID: 166428954

The Restructuring of the Saskatchewan Wheat Pool: Overconfidence and Agency

@inproceedings{Fulton2009TheRO,
  title={The Restructuring of the Saskatchewan Wheat Pool: Overconfidence and Agency},
  author={Murray E. Fulton and Kathy A. Larson},
  year={2009}
}
This paper examines how agency problems combined with overconfidence and hubris by coop management lead to financial failure in the Saskatchewan Wheat Pool. As a consequence of both of these problems, the Pool made poor investment decisions and ended up in severe financial difficulties. These problems were exacerbated by three additional factors: (1) ownership and control were separated via an A-B share structure, leading to a situation where neither farmer members nor investors had an… 

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