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TitleAre cooperatives more productive than investor-owned firms? Cross-industry evidence from portugal
Author(s)Monteiro, Natália P.
Straume, Odd Rune
investor-owned firms
productive efficiency
Issue date1-Jun-2018
JournalAnnals of Public and Cooperative Economics
CitationMonteiro, N. P., & Straume, O. R. (2018). Are cooperatives more productive than investor‐owned firms? Cross‐industry evidence from Portugal. Annals of Public and Cooperative Economics, 89(2), 377-414.
Abstract(s)We analyse empirically whether cooperatives and investor-owned firms differ in terms of productive efficiency. Using rich Portuguese panel data covering a wide range of industries, we apply two different empirical approaches to estimate potential differences in productive efficiency. The results from our benchmark random-effects model show that cooperatives are significantly less productive, on average, than investor-owned firms, both at the aggregate level and for most of the industries considered. However, the results derived from a System-GMM approach, which is our preferred empirical strategy, are much less conclusive, and we cannot conclude that cooperatives are generally less efficient that investor-owned firms. With either approach, though, we find no evidence that cooperatives are more productive than investor-owned firms in any industry.
Publisher version
AccessOpen access
Appears in Collections:NIPE - Artigos em Revistas de Circulação Internacional com Arbitragem Científica

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