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| Tekijä: | Nilsson, J. |
| Otsikko: | Organizational principles for co-operative firms |
| Lehti: | Scandinavian Journal of Management
2001 : SEP, VOL. 17:3, p. 329-356 |
| Asiasana: | AGENCY THEORY CO-OPERATIVES FINANCING INVESTMENT |
| Kieli: | eng |
| Tiivistelmä: | Co-operative firms have been the subject of criticism by many economists, who base their arguments on property rights and agency theory: members do not control management, investments are short term, accumulated investments are below the economic optimum, etc. Nevertheless, many co-operative organizations do function well for their members. An analysis of the assumptions underlying the criticism reveals that this is not generally justified. |
SCIMA