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Cabaleiro Casal, María José and Iglesias Malvido, Carlos and Martínez Fontaíña, Rocio (2019) Democratic firms and economic success. The co-op model. REVESCO. Revista de Estudios Cooperativos (132). pp. 29-45. ISSN 1885-8031
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Official URL: http://dx.doi.org/10.5209/REVE.65482
Abstract
This paper analyzes how co-operative principles, particularly democratic management, affect the co-op’s economic objective. The theoretical model specifies the characteristics presented by the production function so democracy generates positive net income. Costs derived from maintaining the one person one vote criterion are explicitly incorporated into this function upon new membership. The results show that democracy contributes to the economic success when the decision-making strategy followed by the partners considers all cooperative principles, especially when a retained earnings policy is regularly applied. This study can be extended to all of Social Economy firms concerned about reinforcing democratic institutions through the business sector. This study can be extended to all of Social Economy firms concerned about reinforcing democratic institutions through the business sector.
Resumen (otros idiomas)
Este artículo analiza cómo los principios cooperativos, particularmente la gestión democrática, afecta al objetivo económico de la cooperativa. El modelo teórico muestra qué características debe presentar la función de producción de la empresa para que la democracia genere ingresos netos positivos. Los costes derivados de aplicar el criterio de una persona, un voto, ante la entrada de nuevos socios, son explícitamente incorporados en esta función de producción. Los resultados muestran que la democracia contribuye al éxito económico cuando la estrategia de toma de decisiones aplicada por los socios respeta el conjunto de principios cooperativos, especialmente cuando se adopta habitualmente una política de excedente positivo. Este estudio puede extenderse a todas las empresas de Economía Social interesadas en reforzar las instituciones democráticas en la gestión empresarial.
| Item Type: | Article |
|---|---|
| Additional Information: | We would like to thank RGEAF and ECOBAS of the University of Vigo for the support provided for carrying out our research work. |
| Uncontrolled Keywords: | Co-op principles; Co-op objectives; Economic participation; Democratic management; Decision costs; Economic surplus |
| Palabras clave (otros idiomas): | Principios cooperativos; Objetivos cooperativos; Participación Económica; Gestión democrática; Costes de decisión; Excedente cooperativo. |
| Subjects: | Sciences > Mathematics > Bayesian statistical decision theory Social sciences > Economics > Industrial management Social sciences > Economics > Cooperatives |
| JEL: | D70, J54, M20, P13 |
| ID Code: | 58455 |
| Deposited On: | 10 Jan 2020 10:39 |
| Last Modified: | 24 Mar 2021 11:36 |
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