The role of the cooperative credit banks in the European financial system is growing, particularly during the current period of financial crisis. Nevertheless, these cooperative banks have not received a great deal of attention from scholars. This lack of attention has resulted from two factors:...

This article extends the standard theory of the producer cooperative firm to the case of production under condition of risk

From an idealtypical perspective, an enterprise is social if it offers, with a binding commitment to governance, merit goods and services of the commons, using in a non-privatistic manner the most part of profits that may be obtained. This definition is discussed in relation to the...

This paper suggests a holistic framework for analysis of agrarian contracts and investigates the contractual structure in transitional Bulgarian agriculture. Firstly, it incorporates the interdisciplinary New Institutional and Transaction Costs Economics (combining Economics, Organization, Law,...

The paper presents a game-theoretic model in order to investigate to what extent an employee privatization program of a State owned firm can be feasible under certain assumptions concerning the players' objective functions and the market structure in which the firm operates. The public managers...

An argument often adopted to explain the relatively scarce presence of Producer Co-operatives (PCs) in Western capitalist economies is the instability that may affect this type of firm during the positive phases of the business cycle. In a nutshell the argument is that in profitable industries...

This paper provides an empirical investigation of the agency relationship between the public sector and small firms targeted for assistance by examining micro and macro data for a cross section of eligible women business enterprises (WBEs). Using hedonic sales and employment indices we find that...

The aim of this paper is to clarify and discuss the various ways firms can make workforce reductions. This aim is accomplished by an in-depth study of an historical case; the downsizing process undertaken in the 1920s by the Swedish Tobacco Monopoly, a state-owned company that had to balance...

The majority of multinational firms today operate a multilateral production network. Most existing empirical analyses have, however, focused on firms' choice between producing at home and investing overseas and assumed that a firm's decision to invest in a foreign country is independent of its...

Over the past century, the institution of capital and the process of its accumulation have been fundamentally transformed. By contrast, the theories that explain this institution and process have remained largely unchanged. The purpose of this paper is to address this mismatch. Using a broad...