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Los objetivos de una empresa gestionada por sus trabajadores : un análisis sobre el caso uruguayo

Listed author(s):
  • Gabriel Burdín


    (Universidad de la República (Uruguay). Facultad de Ciencias Económicas y de Administración. Instituto de Economía)

  • Andrés Dean


    (Universidad de la República (Uruguay). Facultad de Ciencias Ecónomicas y de Administración. Instituto de Economía)

The theoretical discussion concerning the comparison of employment and wage decisions between capitalist firms and worker cooperatives began with the seminal work of Ward (1958). The model assumes that worker cooperatives maximizes the net income per member instead of total profits. Even though it has been largely criticized, the Ward model has dominated the theoretical literature on worker coops. For instance, some authors have argued that worker coops are not only concerned about income per worker but also employment levels. However, the empirical content of these competing theoretical models has been rarely analyzed. In this article, following the methodology proposed by Craig and Pencavel (1993), we estimate the parameters of a generic objective function. These parameters determine the relative importance that worker coops place on income per worker vis-a-vis the level of employment. The study is based a long micro-panel of Uruguayan firms containing the entire population of worker coops and conventional firms in 31 3-digit sectors. Our results support the view that worker coops pursue mixed objectives, including both employment and income per worker.

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Paper provided by Instituto de Economía - IECON in its series Documentos de Trabajo (working papers) with number 08-10.

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Length: 32 pages
Date of creation: Dec 2008
Handle: RePEc:ulr:wpaper:dt-10-08
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