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The viability of employee-owned firms: Evidence from France

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  • Saul Estrin
  • Derek C. Jones

Abstract

This study examines data on French producer cooperatives for the years 1970-79 to test the widely accepted theoretical prediction that employee-owned firms either will fail as commercial undertakings or degenerate into capitalist firms as the proportion of hired workers who are not members of the cooperative firm increases. Contrary to this prediction, the authors find a high rate of survival among the producer cooperatives studied, with many cooperatives still healthy after fifty years of operation, and they find no evidence of degeneration-either in terms of the proportion of hired workers, productivity, profitability, or capital-intensity. The findings do, however, suggest that the firms' financial structure became increasingly inefficient with age. (Abstract courtesy JSTOR.)

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Bibliographic Info

Article provided by ILR Review, Cornell University, ILR School in its journal ILR Review.

Volume (Year): 45 (1992)
Issue (Month): 2 (January)
Pages: 323-338

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Handle: RePEc:ilr:articl:v:45:y:1992:i:2:p:323-338

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Cited by:
  1. Artz, Georgeanne M. & Kim, Younjun, 2011. "Business Ownership by Workers: Are Worker Cooperatives a Viable Option?," Staff General Research Papers 34575, Iowa State University, Department of Economics.
  2. Derek C. Jones & Panu Kalmi, 2012. "Economies of Scale Versus Participation: a Co-operative Dilemma?," Journal of Entrepreneurial and Organizational Diversity, European Research Institute on Cooperative and Social Enterprises, European Research Institute on Cooperative and Social Enterprises, vol. 1(1), pages 37-64, December.
  3. repec:nbr:nberwo:14233 is not listed on IDEAS
  4. Douglas L. Kruse & Richard B. Freeman & Joseph R. Blasi, 2010. "Do Workers Gain by Sharing? Employee Outcomes under Employee Ownership, Profit Sharing, and Broad-Based Stock Options," NBER Chapters, in: Shared Capitalism at Work: Employee Ownership, Profit and Gain Sharing, and Broad-based Stock Options, pages 257-289 National Bureau of Economic Research, Inc.
  5. Andrés Dean, 2014. "¿Las cooperativas de trabajadores degeneran?," Documentos de Trabajo (working papers) 14-01, Instituto de Economía - IECON.
  6. Fathi Fakhfakh & Virginie Perotin & Monica Gago, 2012. "Productivity, Capital, and Labor in Labor-Managed and Conventional Firms in France," Industrial and Labor Relations Review, ILR Review, Cornell University, ILR School, vol. 65(4), pages 847-879, October.
  7. repec:nbr:nberwo:14230 is not listed on IDEAS
  8. Perotin, Virginie, 2006. "Entry, exit, and the business cycle: Are cooperatives different?," Journal of Comparative Economics, Elsevier, vol. 34(2), pages 295-316, June.
  9. Francesca Gagliardi, 2009. "Financial development and the growth of cooperative firms," Small Business Economics, Springer, Springer, vol. 32(4), pages 439-464, April.

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