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Worker Cooperatives and Democratic Governance

Listed author(s):
  • John Pencavel

    ()

    (Stanford University)

A worker co-operative is a firm that is owned and managed by those who work in it. This paper provides a selective review of research in economics on worker cooperatives. It concentrates on the volatility of earnings and employment in the co-ops compared with conventional capitalist firms; on the long-term viability of co-ops; on the relative productive efficiency of co-ops; and on problems of democratic governance within co-ops. Using modern empirical methods applied to large numbers of observations, recent research has substantially enhanced our understanding of worker co-ops.

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File URL: http://www-siepr.stanford.edu/repec/sip/12-003.pdf
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Paper provided by Stanford Institute for Economic Policy Research in its series Discussion Papers with number 12-003.

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Date of creation: Oct 2012
Handle: RePEc:sip:dpaper:12-003
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  1. Lamoreaux, Naomi R, 1998. "Partnerships, Corporations, and the Theory of the Firm," American Economic Review, American Economic Association, vol. 88(2), pages 66-71, May.
  2. Pencavel, John & Pistaferri, Luigi & Schivardi, Fabiano, 2006. "Wages, Employment, and Capital in Capitalist and Worker-Owned Firms," IZA Discussion Papers 2188, Institute for the Study of Labor (IZA).
  3. Nicholas Bloom & John Van Reenen, 2010. "Human Resource Management and Productivity," NBER Working Papers 16019, National Bureau of Economic Research, Inc.
  4. Dow, G & Putterman, L, 1996. "Why Capital (Usually) Hires Labor : An Assessment of Proposed Explanations," Discussion Papers dp97-03, Department of Economics, Simon Fraser University.
  5. Ben-ner, Avner, 1988. "The life cycle of worker-owned firms in market economies : A theoretical analysis," Journal of Economic Behavior & Organization, Elsevier, vol. 10(3), pages 287-313, October.
  6. Kruse, Douglas L. & Freeman, Richard B. & Blasi, Joseph R. (ed.), 2010. "Shared Capitalism at Work," National Bureau of Economic Research Books, University of Chicago Press, edition 0, number 9780226056951.
  7. Derek C. Jones & Panu Kalmi, 2009. "Trust, Inequality And The Size Of The Co-Operative Sector: Cross-Country Evidence," Annals of Public and Cooperative Economics, Wiley Blackwell, vol. 80(2), pages 165-195, 06.
  8. Richard Blundell & Stephen Bond, 2000. "GMM Estimation with persistent panel data: an application to production functions," Econometric Reviews, Taylor & Francis Journals, vol. 19(3), pages 321-340.
  9. Jones, Derek C & Kato, Takao, 1995. "The Productivity Effects of Employee Stock-Ownership Plans and Bonuses: Evidence from Japanese Panel Data," American Economic Review, American Economic Association, vol. 85(3), pages 391-414, June.
  10. Gabriel Burdin, 2012. "Does workers’ control affect firm survival? Evidence from Uruguay," Department of Economics University of Siena 641, Department of Economics, University of Siena.
  11. Nerlove, Marc, 1971. "A Note on Error Components Models," Econometrica, Econometric Society, vol. 39(2), pages 383-396, March.
  12. Pencavel, John & Craig, Ben, 1994. "The Empirical Performance of Orthodox Models of the Firm: Conventional Firms and Worker Cooperatives," Journal of Political Economy, University of Chicago Press, vol. 102(4), pages 718-744, August.
  13. Fathi Fakhfakh & Virginie Perotin & Monica Gago, 2011. "Productivity, Capital and Labor in Labor-Managed and Conventional Firms," TEPP Working Paper 2011-08, TEPP.
  14. Jonathan Levin & Steven Tadelis, 2005. "Profit Sharing and the Role of Professional Partnerships," The Quarterly Journal of Economics, Oxford University Press, vol. 120(1), pages 131-171.
  15. Cable, John & Wilson, Nicholas, 1989. "Profit-Sharing and Productivity: An Analysis of UK Engineering Firms," Economic Journal, Royal Economic Society, vol. 99(396), pages 366-375, June.
  16. Mellizo, Philip & Carpenter, Jeffrey P. & Matthews, Peter Hans, 2011. "Workplace Democracy in the Lab," IZA Discussion Papers 5460, Institute for the Study of Labor (IZA).
  17. repec:tep:teppwp:wp1108 is not listed on IDEAS
  18. Burdín, Gabriel & Dean, Andrés, 2009. "New evidence on wages and employment in worker cooperatives compared with capitalist firms," Journal of Comparative Economics, Elsevier, vol. 37(4), pages 517-533, December.
  19. repec:sae:ilrrev:v:64:y:2010:i:1:p:29-mar is not listed on IDEAS
  20. Bowles, Samuel & Gintis, Herbert, 1993. "A Political and Economic Case for the Democratic Enterprise," Economics and Philosophy, Cambridge University Press, vol. 9(01), pages 75-100, April.
  21. Bonin, John P & Jones, Derek C & Putterman, Louis, 1993. "Theoretical and Empirical Studies of Producer Cooperatives: Will Ever the Twain Meet?," Journal of Economic Literature, American Economic Association, vol. 31(3), pages 1290-1320, September.
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