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Abstract

The comparative analysis of productivity of the cooperative and capitalist forms of organization has been performed in different countries using various methodologies.In Spain, the Mondragon industrial cooperatives have been studied in depth; however, empirical research comparing the two forms of organization is scarce. This paper represents an empirical contribution using a sample of Spanish manufacturing firms and demonstrates that the productivity of worker-owned firms (including cooperatives and sociedades laborales) is smaller than the productivity of capitalist firms. These findings are based on the estimation, by means generalized method of moments, of a Cobb-Douglas production function. The econometric model includes a dummy variable for measuring the effect of worker-owned form of organization on labor-productivity.

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File URL: ftp://iies.faces.ula.ve/Pdf/Revista33/Rev33Colina.pdf
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Bibliographic Info

Article provided by Instituto de Investigaciones Económicas y Sociales (IIES). Facultad de Ciencias Económicas y Sociales. Universidad de Los Andes. Mérida, Venezuela in its journal Economía.

Volume (Year): 37 (2012)
Issue (Month): 33 (January-june)
Pages: 11-41

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Handle: RePEc:ula:econom:v:37:y:2012:i:33:p:11-41

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Postal: Facultad de Ciencias Económicas y Sociales. Instituto de Investigaciones Económicas y Sociales. Campus Universitario Liria, Edificio G, Tercer Nivel. Mérida 5101, Estado Mérida, Venezuela
Phone: +58 74 401111 ext. 1081
Fax: +58 74 401120
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Web page: http://iies.faces.ula.ve/
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Related research

Keywords: Worker-owned firms; comparative analysis of productivity; Cobb-Douglas production function; firm panel data.;

Find related papers by JEL classification:

• D23 - Microeconomics - - Production and Organizations - - - Organizational Behavior; Transaction Costs; Property Rights
• D24 - Microeconomics - - Production and Organizations - - - Production; Cost; Capital; Capital, Total Factor, and Multifactor Productivity; Capacity
• J54 - Labor and Demographic Economics - - Labor-Management Relations, Trade Unions, and Collective Bargaining - - - Producer Cooperatives; Labor Managed Firms
• L25 - Industrial Organization - - Firm Objectives, Organization, and Behavior - - - Firm Performance
• P13 - Economic Systems - - Capitalist Systems - - - Cooperative Enterprises

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1. G.E. Boyle, 2004. "The economic efficiency of Irish dairy marketing co-operatives," Agribusiness, John Wiley & Sons, Ltd., vol. 20(2), pages 143-153.
2. Jones, Derek C & Backus, David K, 1977. "British Producer Cooperatives in the Footwear Industry: An Empirical Evaluation of the Theory of Financing," Economic Journal, Royal Economic Society, vol. 87(347), pages 488-510, September.
3. Douglas Staiger & James H. Stock, 1997. "Instrumental Variables Regression with Weak Instruments," Econometrica, Econometric Society, vol. 65(3), pages 557-586, May.
   
   • Douglas Staiger & James H. Stock, 1994. "Instrumental Variables Regression with Weak Instruments," NBER Technical Working Papers 0151, National Bureau of Economic Research, Inc.
4. Stock, James H & Wright, Jonathan H & Yogo, Motohiro, 2002. "A Survey of Weak Instruments and Weak Identification in Generalized Method of Moments," Journal of Business & Economic Statistics, American Statistical Association, vol. 20(4), pages 518-29, October.
5. Mosheim, Roberto, 2002. "Organizational Type and Efficiency in the Costa Rican Coffee Processing Sector," Journal of Comparative Economics, Elsevier, vol. 30(2), pages 296-316, June.
6. Ornella Wanda Maietta & Vania Sena, 2010. "Financial Constraints And Technical Efficiency: Some Empirical Evidence For Italian Producers' Cooperatives," Annals of Public and Cooperative Economics, Wiley Blackwell, vol. 81(1), pages 21-38, 03.
7. Baleren Bakaikoa & Anjel Errasti & Agurtzane Begiristain, 2004. "Governance of the Mondragon CorporaciÛn Cooperativa," Annals of Public and Cooperative Economics, Wiley Blackwell, vol. 75(1), pages 61-87, 03.
8. Will Bartlett & Saul Estrin & John Cable & Stephen Smith, 1992. "Labor-managed cooperatives and private firms in north central Italy: An empirical comparison," Industrial and Labor Relations Review, ILR Review, Cornell University, ILR School, vol. 46(1), pages 103-118, October.
9. Porter, Philip K & Scully, Gerald W, 1987. "Economic Efficiency in Cooperatives," Journal of Law and Economics, University of Chicago Press, vol. 30(2), pages 489-512, October.
10. Berman, Katrina V. & Berman, Matthew D., 1989. "An empirical test of the theory of the labor-managed firm," Journal of Comparative Economics, Elsevier, vol. 13(2), pages 281-300, June.
11. Smith, Stephen C., 2001. "Blooming Together or Wilting Alone? Network Externalities and Mondrag.n and La Lega Co-operative Networks," Working Papers UNU-WIDER Research Paper , World Institute for Development Economic Research (UNU-WIDER).
12. Furubotn, Eirik G, 1976. "The Long-Run Analysis of the Labor-Managed Firm: An Alternative Interpretation," American Economic Review, American Economic Association, vol. 66(1), pages 104-23, March.

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