Investment funding: the main problem facing labour-managed firms?
Journal title ECONOMIA E POLITICA INDUSTRIALE
Author/s Bruno Jossa
Publishing Year 2010 Issue 2010/2
Language English Pages 19 P. 13-31 File size 637 KB
DOI 10.3280/POLI2010-002002
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This paper investigates the funding difficulties of producer cooperatives and the potential risks for their financers. It claims that a cooperative requiring members to underwrite bonds will not automatically cease being an LMF (labour-managed firms), nor run the risk of under-investing. The paper also claims that an LMF-type firm will not necessarily tend to make high-risk investments because the link that binds LMF members to their firm is closer than that between shareholders and capitalist firms. Further claims are advanced and discussed to confute the widespread assumption that LMFs have no way out of their funding difficulties.
Keywords: Producer cooperatives, funding difficulties of cooperatives, underinvestment of cooperatives
Jel codes: L21, P50, P13
Bruno Jossa, Investment funding: the main problem facing labour-managed firms? in "ECONOMIA E POLITICA INDUSTRIALE " 2/2010, pp 13-31, DOI: 10.3280/POLI2010-002002