Credit is indubitably one of the most important sectors in which the supply of goods and services by cooperatives has arisen. Given the importance of the role of cooperative banks in the development of other sectors and of the territories or communities in which they operate, and the economic...

Standard economic theory predicts that the accumulation of capital by means of indivisible reserves would lead to underinvestment and undercapitalization due to the truncated temporal horizon of worker-members in cooperatives (the so-called “Furubotn-Pejovich effect”). An inefficiently low...

The European social model has always been characterized by the active role played in the production of goods and services by a variety of organizations that differ both from private corporations and public institutions. These are private organizations that, while active on the market, typically...

The implementation of projects producing external effects is often a source of disagreement and conflict between hosting and non-hosting communities. The paper focuses on the impact of participatory ownership on conflict resolution and social welfare in the presence of asymmetric information and...

Spanish Abstract: En este trabajo se describe la evolución de las cooperativas de crédito en Argentina desde finales de 1880 hasta la actualidad. El análisis presta particular atención a la influencia de factores políticos e institucionales. En términos más específicos, muestra cómo...

The profit non-distribution constraint (NDC) is the basic requirement for non-profit tax privileges all over the world. In donative non-profits it is justified by the need to prevent donors' exploitation by firm owners. Donative non-profits, however, are not the only type of third-sector...

Anecdotal evidence describes how co-operatives are facing a financial crunch, particularly since the economic crash of 2008. Co-operatives are considered to be at greater risk and less profitable than other companies because of the constraints on redistribution of profits and the choice to...

Italian Abstract: Il lavoro analizza in che modo i beni culturali e, più specificamente, i beni storico-archeologici possano rappresentare un potente driver di sviluppo locale. Se gestiti dalla comunità locale nella quale sono collocati attraverso la partecipazione diretta di tutti i soggetti...

The Italian version of this paper can be found at: http://ssrn.com/abstract=1950198 Este documento de trabajo presenta un estudio de caso del Trentino, una de los territorios europeos con la mayor densidad de empresas cooperativas. El sistema de cooperación desarrollados en esta zona fronteriza...

Italian Abstract: Le cooperative di comunità che si stanno diffondendo in molte parti del mondo sono il punto di arrivo di un processo evolutivo che ha visto il progressivo spostamento del baricentro delle cooperative da particolari gruppi sociali e professionali alla società nel complesso....