Contraintes financières et ordre de financement hiérarchique des entreprises agroalimentaires : une approche par données d'enquête

Through direct observations on a sample of Languedoc-Roussillon (France) agribusiness firms, our research contradicts the conventional view of a positive relationship between internal finance and financial constraints as well as the idea that cooperatives are financially constrained. However, our results suggest that cooperatives' subsidiaries face strong financial constraints. This can explain the coexistence of overinvestment in production capacity and underinvestment in marketing.