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Una evaluación crítica del potencial de supervivencia de las sociedades laborales


  • Zuray Melgarejo

    () (Universidad Pública de Navarra)

  • Francisco J. Arcelus

    (University of New Brunswick, Canadá)

  • Katrin Simón

    (Universidad Pública de Navarra)


This paper presents a critical evaluation of the economic survival of labour-managed firms (LMF) compared to that of conventional companies, paying particular attention to their different forms of capital ownership. There are many arguments both ways; some argue that LMFs enjoy a higher likelihood of survival, since they offer greater employment stability and their workers enjoy more incentives as they are involved in the decision-making process. The counterarguments claim that LMFs are less efficient, due largely to the free-rider problem, serious agent-principal problems, a higher degree of risk aversion on the part of their worker-owners and degeneration due to rent-seeking behaviour, which reduces their likelihood of survival. The results of this evaluation point to the divergence between most of the predictions of economic theory and the successful development of LMFs in Spain.

Suggested Citation

  • Zuray Melgarejo & Francisco J. Arcelus & Katrin Simón, 2007. "Una evaluación crítica del potencial de supervivencia de las sociedades laborales," CIRIEC-España, revista de economía pública, social y cooperativa, CIRIEC-España, issue 59, pages 181-202, October.
  • Handle: RePEc:cic:revcir:y:2007:i:59:p:181-202

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    More about this item


    Labour-managed firms; forms of capital ownership; economic performance; survival prospects.;

    JEL classification:

    • J54 - Labor and Demographic Economics - - Labor-Management Relations, Trade Unions, and Collective Bargaining - - - Producer Cooperatives; Labor Managed Firms
    • P00 - Economic Systems - - General - - - General
    • L20 - Industrial Organization - - Firm Objectives, Organization, and Behavior - - - General


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