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date: 23 October 2019

(p. 610) (p. 611) Index

(p. 610) (p. 611) Index

Note: see individual main entries for topics referring to that country/area

Abbey National 105
Abell, Hilary 532
accountability
collective accountability 355
enterprise form xxix, 228–31, 236, 242
governance 228, 450, 454
mutuals 232, 236, 242
neoliberal governance 450
value chains 467
Adams, John 116
Adler, Mortimer 124
Africa 607–8
African Plan (ICA) 608
agricultural co-operatives 608
credit unions and co-operatives banks 575
development 607–8
growth 607–8
ICA 48, 608
ILO 608
multinationals 608
South Africa 195
turnover 269–70, 273
agency
agricultural co-operatives 167
authority/hierarchy 64
governance xxxiii, 153, 447, 449–50, 452
neoliberalism 449, 450, 452
agricultural co-operatives 158–70 see also China, agricultural co-operatives in; France, multi-stakeholder co-operatives in Movement of Farm Machinery Co-operatives (CUMAs) in; Morocco, argan oil co-operatives in South West
agency 167
Better Farming, Better Business, Better Living (Three Betters) 256–7
capitalism 158–9, 162
centralized decision-making 164
challenges 159–60
characteristics of agricultural sector 161
coalition approach 167
collective bargaining 158, 164–5
competition 158, 162, 165
consumer co-operatives 161
co-ordination mechanism, co-operation as a 56, 58, 68
democracy 87, 166
developing countries xxviii, 161
development 607–8
economic rationale 161–2
efficiency gains 68
entrepreneurship as collective action 164–5
European Union 159
family farms 161–2
financial crisis of 2008 572
financial stability 158
firms, co-operatives as 163–5
governance 160, 166–7, 256–7
health care service 187
historical perspective 102–3
horizon problem 165–6
identity xxviii, 159–62, 163, 167
inequalities, collective action against 160
incentive structures 166
insurance 68
job security 158
large co-operatives xxviii, 166
long-term perspective 159
managers 163–4, 166
members 163–4, 166
multi-stakeholder co-operatives 87
new co-operatives models 165–6
(p. 612) nexus of contracts approach 167
non-firms, as 162, 163, 165–6
non-traditional models 165–6
non-profit distribution constraints 167
opportunistic behaviour 161, 164–5
ownership costs 161
participatory model of decision-making 158
Plunkett approach 256–7
portfolio problem 165–6
poverty alleviation 158
productive processes 161–2
property rights/incentive problems 165
reasons for emergence 161–2
rural development xxviii, 158
scale of businesses 603
size of co-operatives 166, 268
social and solidarity co-operatives 172, 176, 179
social objectives 83, 87, 158, 167
stakeholders 163–5
trade unions 159
user-benefits principle 166
user-control principle 166
user-owner principle 166
vertical integration concept 163, 164, 167
Aldrich, Howard 528
Allen, F 22
Allende, Salvador 337
American Economic Association (AEA) 118–19
American Federation of Labor (AFL) 120
Anthony, Joseph 114
Arando, Saioa 134
Arctic Co-operatives Ltd 352
Argentina xxxi, 335–6, 338–40, 345
agricultural co-operatives 339
colonialism 338
consumer co-operatives 339
credit unions 339
dependency 340
electricity 188
financial crisis of 2008 336
historical perspective 338
legislative framework 339
military dictatorship 339
National Institute of the Social Economy (INAES) 339
neoliberalism 339–40
networks 339
social and solidarity economy sector 338–9, 345
social containment 339
utilities 188, 339
water 188
worker co-operatives 338–40
worker-recuperated enterprises 339–40
Arizmendiarrieta, José Maria 108, 280–2
Asia
Central Asia 608
growth 607
large co-operatives 268
turnover 269–70, 273
asset locks 69, 231–2, 310
Astrachan, JH 18
Atwater, Lyman 120–1
Australia
building societies 105
credit unions and co-operative banks 575
employee ownership 206
small-sized enterprises 270
tax 202
Austria
credit unions and co-operative banks xxviii, 105, 152, 573–4
financial crisis of 2008 152
renewable energy 187
water services 188
authoritarian regimes, spread of 103–4
Ayadi, R 552
Azkarraga, J 291–2
B20 (business advisory group to G20) 606
BAG Bank Aktiengesellschaft (Germany) 407–8
Bailey, Andrew 563–4
Bakaikoa, B 287
Banco Santander 105
banking and financial services see also credit unions and co-operative banks
design of institutions xxxvi, 587, 589
diversity 6–8, 10
(p. 613) Europe, reports on banking in 7–8
exclusion of co-operatives 605
financial crisis of 2008 6–9, 150–2, 409, 446, 570–6, 581, 585–6
legal framework 605
ownership 6–9
regulation 23, 149, 154, 155, 586
socially sustainable enterprises xxxvi, 585–6, 595–6
speculation 6
TITF (too important to fail)/TBTF (too big to fail) 7
Barge, KJ 490
Barnes, WS 43–4
Barrett, CB 457
Barth, JR 23
Basel II 154
Basel III 154, 408
Basque Country, Spain 107–8, 134, 279–80, 286–8, 291, 379, 591
Bauwens, Michele 258
BBBank (Germany) 405
Becker, S 325
Begiristain, A 287
behavioural economics 62–3
Belgium 106, 473, 576, 588
Benton, Thomas Hart 118
Bergengren, Roy 148
best practices xxix, 196, 203–6
Big Data 47
biogas 326
biomass 321, 323
Birchall, Johnston 152, 249, 481
Blair, Margaret 432
Blanc, Louis 102
Blasi, Joseph 213, 389, 418–19, 423, 427
Bolshevik Revolution 121
bonus culture 6
Bonus, H 162
Böök, Sven-Åke 257
Borzaga, C 76–7
Bowles, Samuel 58
Brazil 336, 345
Bretton Woods 4, 10
British Journal of Industrial Relations 220, 222
broad-based stock ownership (BBSO) xxxii, 115–21, 125, 361–7, 370, 375, 377
Bryson, Alex 212
Burdín, Gabriel 134, 137, 140
Burlton, Bob 248
Bush, George W xxxii
business literacy/skills
directors 250
employee ownership 205
growth 354, 532
intersectional identity 485
leadership 352–3
Plunkett approach 256–7
private enterprises 457
rural communities 463
Cambodia, employee ownership in 195
Cameron, David 206, 251
Canada 348–60 see also Quebec, Canada
agricultural co-operatives 110 161, 355
consumer co-operatives 110, 576
context 349–50
contributions to building community 353–5
credit unions and co-operative banks 110, 147, 155, 350, 351–3, 573, 575
culture 355, 356
democracy 353, 356
Desjardins Group 350, 352–3, 575
development of communities xxxi, 348–60
diversity 349, 350, 356–7
education and training 351–6
engaged citizenry 353–4, 356
entrepreneurial activities 351–2, 354–5
globalization xxxi, 348, 357
governance 350
grass-roots initiatives 349, 355
historical perspective 110
ICA 352
inclusive practices 355–6
indigenous areas xxxi, 348, 349, 351–3, 356
institutional contexts 349
insurance 109
Kahnawake First Nation 351, 352–3
large co-operatives 268–9
(p. 614) management training 352–3
marginalized urban areas 348, 349, 351
marketing 110, 355
measurement of impact on communities 350
micro-enterprises 355
multi-stakeholder governance 350
networks 353–5
one member one vote principle 356
partnerships 349
peer lending circles 354–5
personal infrastructure, building and strengthening 351–2
physical infrastructure, 352
remote areas xxxi, 348, 351, 356
retail co-operatives 110, 351, 353, 356
role of co-operatives xxxi, 348–60
rural areas xxxi, 348, 349, 351, 355
social and solidarity co-operatives 175, 178–9
social capital 352
social cohesion 349
social economy xxxi, 348–9, 353–6
social infrastructure, building and strengthening 352–3
stakeholders 350
sustainability of communities xxxi, 348–60
trappers 356
types of co-operatives 349
urban areas xxxi, 348, 349, 351, 355, 356
utilities 188–9
women 354–5
worker co-operatives 351–2, 579
capital/capitalization
access to capital, impediments on 380
broad-based stock ownership (BBSO) in corporate businesses 377
capital co-operatives 233
company capital model 145
credit unions and co-operative banks 146, 154, 155
crowd funding 600
growth 606–8
hybrids 606–7
ICA 607
identity 48
principles and values 48, 607
private ownership 29
recapitalization 154
share capital, companies limited by 228–30, 232–3, 237, 239–42
start-ups 606
sustainability 594, 601, 607
under-capitalization 261
worker co-operatives 131–2, 134–7, 141
capitalism see also United States, shared capitalism in
agricultural co-operatives 158–9, 162
alternatives 3–10, 570–1
democracy 34–5, 37
development 608
economic growth 9
enterprise form 604
entrepreneurial activities 23, 453
fair trade 477–8
financial crisis of 2008 570–1
golden age 4, 9–10
historical perspective xxvii, 97–101, 111–12
inequalities 30, 600
laissez-faire 4, 7
neoclassical economics 4
ownership xxv, 3–10
post-capitalism 605
rights violations 30
social and solidarity co-operatives 175, 178–9
socially sustainable enterprises 594
unleashed capitalism 4, 6–7, 9–10
varieties of capitalism 23
voluntary co-operatives 588
welfare state 34
worker co-operatives 137
Carey Shanker, M 18
Castro, Fidel 343
centrally planned economies 3–4
Centre for European Policy Studies (CEPS) 7–9, 554, 556
Chaddad, F 165
Charrouf, Zoubida 456–7
Cheney, G 282
Chernobyl disaster 321
(p. 615) childcare providers 77, 86, 87–9, 90, 176
Childs, M 83
Chile xxxi, 336–8, 345
agricultural co-operatives 336
Catholic Church 336–7
civil society, breakdown of 337
Department of Mutuals and Co-operatives 337
economic crisis of 1980s 337
general interest services 337–8
independence 337
legal recognition 337
military coup 337
mutuals 337
neoliberalism 337
non-profit sector 336–7
social and solidarity economy sector 336, 337, 345
social economy sector 336
trade unions 337
waste recycling 338
water 337–8
welfare model 337
China, agricultural co-operatives in 512–24
agent-driven development 518–20
business dealers 519–20
capital-led co-operation 513
capitalization 514
challenges and opportunities xxxv, 514–15
civil society 519, 521
commercial companies 519–20, 522–3
communes, abolition of 514
community-based co-operation 513
co-operative federations 516–17, 518, 521, 522
democracy 517, 522
diversification 513, 514
diversity xxxv, 513, 516–18
elites 519–21
entrepreneurial activities 520–1
evolution 513–16
false co-operatives 513
Farmers’ Specialized Co-operatives, definition of 512–13
governance 514
growth 512, 515, 523
historical perspective 516
horizontal co-operation 513
household contract responsibility system (HCRS) 512, 514
hybrids 517
ICA principles 517
industrialization 514, 519, 521
initiators 519, 522
innovation 513, 516
institutional arrangements 514, 515, 522–3
internalization of contractual relations 519
international agencies 522
Law on Farmers’ Specialized Co-operatives (FSCs) 2007 xxxiv, 512–13, 516, 518–20
legitimacy 515
marketization 514
multi-stakeholder co-operation 514
new models 513, 514
NGOs 521–2
Number One Documents 514, 515
one member one vote principle 517, 522
poverty reduction xxxv, 521–2
producers’ organizations 512, 518–19, 521
regional federations 518
rural crisis 515
rural economy 512–23
Rural Land Contracting Law 516
self-interest 523
shareholder co-operative system 513, 514, 516, 517–18, 522
socio-economic challenges 513
specialization 515, 516, 517, 520
structural changes 512
sustainability 515
tax 515, 519
traditional co-operatives 516–17, 522
transfer of land-use rights 515–16
transition 512, 513–14
urbanization 514, 521
vertical integration 513
women 521
World Trade Organization 515
Christen, R 552
Churchill, Winston 6
citizen’s dividend, distribution of 375, 376–7
City of London 6
civil and political rights 33, 589, 591–2
Clark, John Bates 118, 120
(p. 616) Clinton, Bill 370
Coase, Ronald 55
Cogeca (General Committee for Agricultural Co-operation in the EU) 159
collective bargaining 158, 164–5
Colson, René 501
commitment
agricultural co-operatives 519
associationism 292
business efficiency 81
citizen’s share 370
credit unions and co-operatives banks 146, 379, 581
employee ownership 431–2, 439, 485
governance 250, 448–52
ideology 602
long-term commitments 258
neoliberalism 448–52
NGOs 522
organizational democracy 81
pay 138, 284
political commitment 565–6
principles and values 290–1, 350, 606
profit-sharing 362
rural areas 507
social commitment 171–5, 236, 282, 588
solidarity 285, 289
stakeholders 232, 316, 481, 484–5, 494
sustainability 356, 608
worker-consumer co-operatives 380
worker co-operatives 380, 395–6, 532
common good xxv, xxxvi, 21–2, 33, 36
communications and standards for communications 202–3, 253–6
community co-operatives xxviii–xxix, 184–7
community interest companies (CICs) (UK) 228, 236–7, 239–40
competition/competitiveness
agricultural co-operatives 158, 162, 165
co-operative law xxvi, xxxvi, 45, 540
co-ordination mechanism, cooperation as a 64, 66
credit unions and co-operative banks 145, 149, 150
efficient competition, logic of 79–80
exit 450
financial crisis of 2008 6
historical perspective 99, 104
imperfect competition 15
neoliberal governance 447–51, 454
ownership 10
principles and values xxvi, 45
private sector 448
public sector 448
scale of business 603
social and political dimensions 78, 89, 91
sustainable development xxvi, 45
welfare systems 89
Confederation of Finnish Co-operatives 103
constitutions 39
consumer co-operatives
access to capital, impediments on 380
agricultural co-operatives 161
co-operative law, role of 541
democracy xxxii, 87–8, 383
financial crisis of 2008 xxxvi, 571–2, 581–2
governance 246, 381
health care services 176
institutional sponsorship 380, 382–3
Internet 380
multi-stakeholder co-operatives 87–8
municipal governments, sponsorship by 382–3
organizational degeneration 380
participatory models 380
retail consumer co-operatives xxxvi, 379–80, 572, 576–9, 581
social and political dimensions 81, 82, 86, 87
social and solidarity co-operatives 171–2, 176
solidarity xxxii, 383
taxi services 380
trade unions 381–2
travel accommodation 380
utilities 184, 192
worker co-operatives xxxii, 379–82
consumption and production, association between xxxii, 374, 379, 382
control
agricultural co-operatives 166
community co-operatives 186–7
(p. 617) co-operative law 48, 539, 542–3, 547–8
enterprise form xxix, 242
external control 543
governance 63
user-control principle 166
utilities 185
worker co-operatives 131, 138–9, 141
conventional enterprises see for-profit enterprises
Cook, M 165, 167
co-operation
co-ordination mechanism, as xxvi, 55–75
governance xxxiii, 447, 450, 453
international economic co-operation 9
social and political dimensions 81
co-operative advantage xxxvi, 252, 582
Co-operative College 102
co-operative, definition of xxxvi, 46–7, 77, 184–5, 263–4, 599
Co-operative Group 4, 246–53
Co-operative Bank 246
Co-operative Wholesale Society (CWS) 105
directors, quality of 250–1
economic and social competencies 257
education 247–9
engagement, model of 256
fair trade 477
financial crisis of 2008 152, 575–7, 581
governance 246–53, 256–7, 446, 453
losses 246
mis-selling scandal 581
co-operative law 539–49
challenges for legislators 48–50
characteristics of co-operatives xxxv, 539–43
company law 589–90
comparative studies 43
competition law xxvi, xxxvi, 45, 540
constitutions 39
consumer co-operatives 541
contract law 545
control 48, 539, 542–3, 547–8
co-operative purpose 540–3
co-operative transactions and their regulation xxxv, 543–6
democracy 543, 547
design 201, 231
differentiation between for-profit enterprises and co-operatives 40–1, 542–3, 545, 547
distribution 539–40
diversity 263
equally, duty to treat members 544–6
EU law, harmonization of 48–9
flexibilization 44
for-profit companies xxxv, 40–1, 540, 542–3, 545, 547
foreign ownership laws 202
general interest co-operatives 547–8
global law 50
globalization xxvi, 41, 46, 49
governance 543, 547
growth, legal framework for 605–6
harmonization 48–9
historical perspective 39
human rights 44, 46–7, 545
hybridization 49
ICA principles 547–8
identity xxxv, 540, 542, 548
ILO
harmonization 48–9
Recommendation No 193 42, 45, 47
institutions, building 44
internal nature of purpose 541, 547–8
labour law 201–2, 545
law-making in open, egalitarian and contestable way 33
legal arguments 41–3
legal structure of co-operatives xxvi, 49
measuring co-operative law xxvi, 46
membership, nature of 541–5
double quality 542–3
equally, duty to treat members 544–6
users, members as 542–3
mutual purpose xxxv, 540–1, 543–4
mutuals 546, 548
non-members, co-operative activities with xxxv, 543, 545–6
non-profit companies xxxv, 539–40, 547–8
objectives/purpose xxxv, 540–4, 547–8
organizational law 539–40
ownership structure 542–3
pedagogical purpose of legislation 44
(p. 618) political arguments 43–8
politics/law nexus 44
prescriptive function 540
producer co-operatives 541–2
regulation xxxv, 543–6, 548
Rochdale Society of Equitable Pioneers 541, 546, 548
rule of law 44
small-sized enterprises 263
social economy 41
social enterprises, legislation on 548
social function xxxv, 547–8
social justice 46–7
socio-psychological dimension 49
tax law 540
technical aspects 44
third parties 44
transactions and their regulation, xxxv, 543–6
UN GA Guidelines 42
worker co-operatives 541
co-operative principles see principles and values
Co-operative Party 102
co-operative transactions and their regulation xxxv, 543–6
Co-operative Union of Danish Dairy Producers 102
co-ordination mechanism, cooperation as a 55–75
application of new framework 67–70
authority/hierarchy 56, 64, 70
economic theory xxvi, 55–8, 70
economics of co-operatives xxvi, 55, 61–7
evolutionary economics 62
fair procedures 57
features and objectives of co-operative forms 62–4
governance 64, 66–7, 70
institutional theory 66
intergenerational solidarity 65
interpretation 55–6
investor-owned firms (IOFs) 56, 69
isomorphism 68, 70
limitations of co-operative enterprises 65–7, 70
market exchanges 64, 70
market failure 55–6, 64, 68
perverse reactions to market stimuli 65
profit maximization xxvi, 55, 57, 63, 68
reciprocity xxvi, 66
self-seeking individuals 55, 57
size of co-operatives 66
social capital 62, 66, 69
social welfare 63–4, 66
specific kind of co-operation mechanism, co-operation as 58–61
theoretical developments xxvi, 55–6
COPA (Committee of Professional Agricultural Organisations) 159
co-opreneurs 605
corporate governance xxx, 246, 248–9, 445–55
accountability 454
ambiguity of valuation xxxiii, 451–2
challenges xxx, 246, 248–9
co-operation xxxiii, 447, 450, 453
corporate governance approach xxx, 246, 248–9
credit unions and co-operative banks 152–3
culture xxxiii, 445, 446
democracy xxxiii, 446, 454
dialogue xxxiii, 446, 448
diversity 23
entrepreneurial activities 453
enterprise form xxix, 227, 239, 242
failure of organizations 453
financial crisis of 2008 446
financialization 446
foundational economy 453
innovation xxxiii, 447, 453–4
legitimacy crisis 446
mutuals 446
neoliberalism xxxiii, 446, 447–54
ownership 9–10
participatory governance xxxiii, 446
scandals 446
stakeholder versus shareholder theory debate 23
(p. 619) theories xxv, 19, 21, 23
corporate social responsibility (CSR) 23, 89
Cox proportional hazards models 134
Coxe, Tench 114
Craig, B 137
Creative Commons 60
Crédit Agricole 102, 106
credit rating agencies 149, 574
Credit Union Extension Bureau 148
Credit Union National Association (CUNA) 148
credit unions and co-operative banks 145–57 see also banking; building societies; Germany, co-operative banking in
audit function 149
business model of financial co-operatives 146
capitalization 146, 154, 155
challenges 154–5
company capital model 145
competition 145, 149, 150
consumption 147
co-ordination mechanism, cooperation as a 64
core values 146
credit ratings 574
democratic governance 145
descending business model 145
developing countries 69
diversity in financial markets 156
economic growth 154
entrepreneurial activities 145
entry and exit 155
ethical behaviour 146
EU banking union, introduction of 154
financial crisis of 2008 151–3, 154, 572, 573–6
financial exclusion, countering 241–2
gentrification 155
governance 145, 149–50, 152–3
growth of banks 153
historical perspective 102
innovation 145, 151, 153
integration in financial co-operatives 148–50
large investment projects 149
liquidity 149
local identity 146
mergers 150, 151, 154, 155
middle-class 147, 155
mortgages 574
mutuals 145, 573
national laws xxviii, 145
network structure 148–50
new co-operatives, establishing 155–6
one member one vote principle 145, 146
open door principle 145
ownership rights 145–6
performance 151–2
production 147
profit maximization 146, 151
proportionality 154
prudence 146
Raiffeisen model 146–7, 149, 155
rating agencies 149
rationing in developing countries 69
recapitalization 154
regulators 149, 154, 155
relationship-based retail banking 69, 146
religion 147
responsiveness 146
retail banking 150
return on equity (ROE) 151
rural society 147
self-help 146–7, 155
small size 145, 149–50
social and solidarity co-operatives 172
social cohesion 150
social co-living 147
solidarity 146, 150
specialization 146
stress tests by ECB 154
takeovers 145
technological challenges 155
transparency 146
universalism 147
usury in developing countries 69
voting 145, 146, 153
well-being of members 146
worker co-operatives 594
Cresson, Édith 501
Croatia 175, 177–8
crowd funding 600
(p. 620) Cuba xxxi, 342–5
agricultural co-operatives 342–4
Agricultural Development Bank 342
Agricultural Production Co-operatives 343
autonomy and independence 342
Basic Units of Co-operative Production (UBPC) 343–4
campesinos 343
Credit and Services Co-operatives 343
ICA 342
land 343
legislative framework 344
Los Lineamientos 344
National Association of Small Farmers (ANAP) 343
producer co-operatives 343
Revolution 342–3
size of co-operatives 342–3
state, links to 342–4
urban-based co-operatives 344–5
worker co-operatives 343–4
Cuevas, E 556
culture
banking 449
bonus culture 6
changes 9
development 608
employee ownership 200
enterprise form 227
governance xxxiii, 252–3, 445, 446–52, 454
neoliberalism 447–52, 454
ownership 5, 9
principles and values 40
social and political dimensions 81
stakeholder versus shareholder theory debate 23
trust 450
turnover of staff 451
Curl, John 527, 529
currency exchange 202
customer-owned co-operatives xxix, 184–7, 189, 191–2, 229, 234–5
Cyprus, financial crisis of 2008 in 152
Czech Republic 177, 178, 181
data privacy laws 203
Davies-Coates, Josef 258
de Blasio, Bill 382
de Tocqueville, Alexis 83
de Vries, B 152
Dean, A 137
democracy see also one person one vote principle; voting
agricultural co-operatives 87, 166
broad-based stock ownership (BBSO) in corporate businesses 377
capitalism 34–5, 37
common goods xxvi, 33, 36
community co-operatives 185–6
consumer co-operatives xxxii, 87–8, 383
co-operative law, role of 543, 547
co-operatives, formation of 35–6, 37
co-ordination mechanism, cooperation as a 58
credit unions and co-operative banks 145
crowd funding 600
deliberative democracy 32–3, 35, 47
democratic deficit xxvii, 76
democratic pioneers xxvii, 90
democratic school 80–1, 83–4
distribution of wealth 37
enterprise form xxix, 230, 240
governance xxxiii, 248, 255, 446, 448, 451–2, 454
grass-roots democracy 90
internal decision-making 87–8, 90–2
inequality of income and wealth 34–6
justice, principles of 33
liberal socialism 36
liberalism xxvi, 32–7
logic of democratic membership 79
market 86, 92
multi-stakeholder co-operatives 87–8
mutuals 35–6, 37, 482
neoliberalism 448, 451–2
one member one vote principle 87
political participation 33, 35
private property in productive resources 34
(p. 621) property-owning democracy 34–5, 36
relational goods, provision of 85
representative democracy 166
self-ownership 34
social and political dimensions 76–8, 81, 82
social and solidarity co-operatives 177, 179
social democracy xxv, 4
social justice xxvi, 36
socially sustainable enterprises 587, 589
societal changes 90
tax 34–5
theory of justice 33–4
utilities 185–6, 192
voluntary associations 90, 589
welfare services 47, 87, 90
worker co-operatives xxvii–xxviii, xxxii, 35, 139–41, 383
Denmark
agricultural co-operatives 83, 102, 159
consumer co-operatives 83
credit unions and co-operative banks 150
dairy producers 102–3
historical perspective 102–3
renewable energy 187
social and political dimensions 83
strategic networks 150
utilities 188
wind farms 188
Desjardins, Alphonse 110
Desjardins Group 147, 150, 350, 352–3, 575
Desrochers, M 150
developing countries 16, 69, 159, 161, 461, 470, 472–3
development 607–8
agricultural co-operatives 607–8
capitalism 608
culture 608
dynamic model of co-operative development xxvii, 78–80
ILO 608
local endogenous development 262
organizational development 78
renewable energy 607
rural areas xxviii, 158, 179–80
small-sized enterprises 262
sustainability 608
technology 607
Develtere, P 476–7
differentiation between for-profit enterprises and co-operatives
categorization of co-operatives 604–5
co-operative law 40–1, 542–3, 545, 547
co-opreneurs 605
enterprise forms 604
future of co-operative business model 604–5
marginalization 604
post-capitalism 605
principles and values xxvi, 43–4, 47
profit-maximization 605
social and solidarity co-operatives 173
social economy space 604
solidarity 604
disadvantaged workers 85, 176–9, 309–11, 314, 316–18, 356
diversity
banking in Europe, reports on 7–8
business models xxv, 7–9
co-operative law xxvi, 44, 45, 49, 50, 263
credit unions and co-operative banks 156
economic growth 556–7
enterprise form 233, 237
financial crisis of 2008 7
financial services sector 6–8, 10
ownership xxv, 5–6, 7–10
Doidge, C 23
domain names 59
Donati, P 84–5
Doucouliagos, Christopher 211–12
Dumont, René 500
Dunn, JR 166
Duttweiler, Gottlieb 108
Eastman, George 121
economics
agricultural co-operatives 161–2
behavioural economics 62–3
community co-operatives xxix, 185
co-ordination mechanism, cooperation as a xxvi, 55–8, 61–7, 70
evolutionary economics 62
growth 9, 11, 154, 354, 556–7, 606–7
importance of co-operatives 97
(p. 622) inequalities 30
international economic co-operation 9
justice 30
neoclassical economics 10–11, 55, 57
ownership 5
precarity, policy debates on 375–8
security 46–7, 171
social and political dimensions 81
social and solidarity co-operatives 171–3
social economy xxxvi, 41, 604–7
sustainability 585–6, 593, 596, 601
systems, contribution to functionality of 262
theory xxvi, 55–8, 70, 131–2
utilities xxix, 185, 187
worker co-operatives xxvii–xxviii, 131–2, 139–41
electronic communications 203
Ellerman, David 590, 592
Emelianoff, IV 163, 167
employee ownership 195–207 see also United Kingdom, employee ownership in; United States, employee ownership in
acquired rights 201
age discrimination 201
best practices xxix, 196, 203–6
business literacy 205
communications and standards for communications 202–5
cultural norms 200
currency exchange 202
data privacy laws 203
design of ownership plans xxix, 196–204
discrimination 201
electronic communications 203
European Commission pilot project 206
foreign ownership laws 202
foundational issues 196–7
future of companies 197
global employee ownership xxix, 195–207
incentives 205, 206
joint stock corporations 195–8
labour law 201–2
legal requirements xxix, 195, 198, 201–3
matrix unification 200–1
multi-country employers xxix, 198–201
organized labour rights 202
ownership metaphor 591–2
participation 205
pay/equity compensation xxix, 196–205
phantom stock 198
private ownership 30
profitability, formula for 206
public face of company 197
recent developments 206
regulation 195, 201–3
restricted stock 198
risk allocation 196–7
role of employee-owners 197
securities 202
single-country employers 196–7
stock purchase plans 201
strategy 200
taxation 202, 206
voice of employees 197
worker co-operatives 591–2
energy see also Germany, co-operatives and transformation of energy sector in
biogas 326
biomass 321, 323
climate change xxxi, 321
hydro energy 321
natural gas 189
photovoltaics 321, 323, 331
renewable energy 187, 321, 323–4, 326, 331
solar energy 324
sustainability 601–2
utilities 184, 187–8
wind energy 188, 321, 323–4
Enke, Stephen 163
enlightened shareholder value 231
entrepreneurial activities 14–26
affirmative action 15
agricultural co-operatives 56, 164–5
archetypical form of enterprise, presumption of xxv, 14
capitalism 453
common good theories xxv, 21–2
co-operatives xxv, 15, 16–17, 19
(p. 623) co-opreneurs 605
co-ordination mechanism, cooperation as a xxvi, 56
corporate social responsibility 23
credit unions and co-operative banks 56, 145
economic growth 354
externalities 21–2
family firms xxv, 15–16, 17, 19
governance xxv, 19, 21, 23, 453
imperfect competition 15
industrial organization theories xxv, 19
labour market 14–15
market failure 14–15
mutual producer/consumer associations xxv, 15–16
non-archetype enterprises xxv, 14–19, 23–4
non-profit sector 16–18, 23
normative approach 19–23
pluralism xxv, 14–26
positive approach 15–19
private limited companies, archetype enterprise as xxv, 14
privatization 21–2
productive sector 15
profit maximization 14–16, 19–23
public limited companies (PLCs) xxv, 14–15
Shareholder Value (SHV) theory 19–23
single enterprise model 14, 15–19
size of sector in Europe 16–17
social enterprises xxv, 15–16, 49
stakeholder inclusion theories xxv, 19–20
stakeholder theory xxv, 19–23
Stakeholder Value theory (STV) 19–23
stakeholder versus shareholder theory debate 15, 19–23
turnover 19
workforce, extent of 17, 18
enterprise form see also particular forms (eg worker co-operatives)
accountability xxix, 228–31, 236, 242
archetypical form of enterprise, presumption of xxv, 14
balance of power 228
capital co-operatives 233
capitalism 604
context 227
control rights xxix, 242
co-operative law, design of 231
co-ordination mechanism, cooperation as a 61–2
credit unions and co-operative banks 241–2
culture 227
democracy xxix, 230, 240
distribution 227
diversity of interests 233, 237
empirical evidence 237–42
enlightened shareholder value 231
financial crisis of 2008 234, 237–9
financial exclusion, countering 241–2
financing 228, 229–31, 234–6, 239
hybrid forms 235–6
income xxix, 229, 233
investor mutuals 233
legal structures xxix, 227, 228–37, 242
literature, theoretical and empirical xxix, 227–45
managers, role of 229–30
multiple outputs 229
multi-stakeholder governance 232, 242
new legal forms of social enterprise 235–7
non-archetype enterprises xxv, 14–19, 23–4
ownership xxv, xxix, 4–5, 10, 228–31, 242
participation xxix, 227–31, 234, 237–42
performance xxix, 227–8, 237–42
property rights 228–9, 242
risks, division of 228, 230, 231–2, 234
shareholders 228–32, 234, 236, 239
small-sized enterprises 263–5
social impacts 241–2
stakeholders 227–33, 240–2
state ownership forms xxv, 3–5, 9–10
sustainability xxix, 232–3
voice rights xxix, 229, 231, 233, 242
welfare services 241
wider social impacts 241–2
environment
cap-and-dividend programme 377
climate change 377
common asset trusts 377
energy xxxi, 321, 323, 326
(p. 624) Green New Deal 9
greenhouse gases 321, 376–7
social and solidarity co-operatives 173
sustainable development 601–2
equality see inequalities
Erdal, David E 140, 592
Eroski 108, 259, 281, 287, 379, 579–80
Errasti, A 287
ESOPs (Employee Stock Ownership Plans) (United States) 295–307
100% employee ownership xxvii–xviii, xxxiii, 127, 295, 296, 298–9, 420
account values 364
add-on transactions 300–5, 306
advantages 414
anti-abuse rules 417
C corporations 296, 297, 372, 413–14
closely held companies 415, 418–19
concepts of ESOPs xxx
contributions of stock and cash by companies xxxiii, 412–13, 423
consumer co-operatives 380–1
debt-financed ESOPs 295, 298–9, 305–6
default rules 424–5
defined benefit plans 412
defined contribution plans, as 412, 423
directors 296, 301–2
diversification 415, 422–3
effect on corporate performance 417–21
employee ownership xxvii, 196, 201, 416–17
default rules 424–5
financial well-being 422–4
historical perspective 120, 122–7
performance, causal link with 419
research 421–2
employer stock, investment in 412–13
equivalent plans 415–16
ERISA 126
expert advice 306
external buy-outs xxxi
external considerations 303–5
fair value calculations 303
Federal Law xxxiii, 412
financial transactions to create ESOPs 295
financing 297–9, 305, 367
floor price protection (FPP) 302
governance 296, 301
General Social Survey 424
Great Depression 123–4, 126
growth 415–16
historical perspective xxvii, 110, 120, 122–7
Individual Retirement Account (IRA) 368
internal considerations 301–3
labour standards 365
large companies 417, 420–1
leveraged ESOPs (LE) 296, 297, 298–300, 412–13
majority-ownership by ESOPs 297
monitoring corporate management 296
multi-stage ESOPs xxx–xxxi, 296, 300
newly issued shares, acquisition of 413
non-leveraged ESOPs (NLE) 296, 297–300
participatory management 297
pay 422, 424
performance, effect on 417–21
personal retirement plans 591
plans, participants and assets 415–16
public companies 415, 420–1
purpose and background 296–9, 413
quasi-retirement plans 297
repurchase of shares 414
S corporations 296, 297, 356, 414, 415–17
scams 415, 417
sectors 417, 418
shared capitalism xxxii, 362–72
shares of existing shareholders, acquisition of 413
size of companies 417, 420–1
small enterprises 367, 371–2
socially sustainable enterprises 591, 593
statistics 295
statutory ESOPs xxxiii, 412–25
tax xxxii, 126–7, 365, 368, 412–17
loans 425
small enterprises 371–2
sustainability 591
transfer of ownership 296, 297–8
trust structure 296, 298
trade-off or risks 422, 423–4
transfer of ownership 296, 297–301, 305–6
treasury shares, acquisition of 413
(p. 625) trust structure xxxiii, 296, 298, 301–2, 367, 369, 413, 591
typical series of transactions 300–1
well-being, employee ownership and employee financial 422–3
worker co-operatives 380–1
Estes, CL 387–8
Estrin, S 135
European Central Bank (ECB) 154
European co-operative banks xxv–xxxvi, 148, 151–2, 272–3, 570–1, 573–5
European Federation of Employee Share Ownership (EFES) 206
European Union
agricultural co-operatives 159
banking union 154
Cogeca 159
Commission
Communication on promotion of co-operatives xxiv
pilot project on employee ownership 206
Social Business Initiative xxiv
data privacy laws 203
Deposit Guarantee Scheme Directive 566
diversity 556
Europe 2020 xxiv
European Central Bank (ECB) 154
European ParliamentReport on Social Economy xxiv
harmonization 48–9
Mondragón movement 286
Morocco, argan oil co-operatives in 457–8, 462–3, 465
Social Business Initiative xxiv
experimental economics 62
Fagor Electrodomésticos 281, 286, 288–90, 580
fair trade 10, 470–9
audits 471, 474
capitalism 477–8
consumption 470
contested issues 474–6
co-operatives, comparison with xxxiv, 470, 476–7
definition 470
developing countries 470
development of fair trade 472–4
economic development xxxiv, 470, 474–5
Fairtrade Foundation 476
Fairtrade International 471, 476
fragmentation 475
impact 475–6
labelling 471–2, 475–6
lifestyle choice 470
mainstreaming 474, 477
market approach 470
multinationals 471–2, 474
multi-stakeholder models 473–4
mutuals xxxiv, 472
networks 470
political change, campaigns for 471
poverty 472, 478
principles and values 471, 476–7
producer groups xxxiv, 470, 472–3
product certification 472, 474–7
product marks or brands 471
role of co-operatives 472–4
sales, amount of 471
shared value 472, 478
SOAS report 475–6
supermarket chains 473, 474, 476–7
supply chains 471–2, 477
value chains 470
World Fair Trade Organization 471–2, 474–5
Fakhfakh, Fathi 134, 135–6, 140, 593
family firms xxv, 3, 15–16, 17, 19
Federation of Danish Dairy Producers 102–3
Ferri, Giovanni 18, 152
feudal system 586
Fici, Antonio 43–4
fiduciary duties 11, 21
Filene, Edward 148
Filippini, Giuseppe 104
financial co-operatives see also credit unions and co-operative banks
financial crisis of 2008 xxxv–xxxvi, 572, 573–6, 580–1
interest rates 580–1
local communities 581
poverty traps 581
self-interest 150
(p. 626) financial crisis of 2008
agricultural co-operatives 572
benefits of successful business sector 580–2
bonus culture 6
building societies xxxvi, 238–9, 573–5
business models 6
capitalism, alternatives to 570–1
consumer co-operatives xxxvi, 571–2, 581–2
co-operative advantage xxxvi, 582
credit unions and co-operative banks 151–3, 154, 572, 573–6, 581
diversity 7
enterprise form 234, 237–9
ethics 571, 581
European co-operative banks xxxv–xxxvi, 570–1, 573–5
evidence 572–80
financial co-operatives xxxv–xxxvi, 572, 573–6, 580–1
future 582
governance 446
ILO 571
indicators 571
inequalities 6
insurance mutuals xxxvi, 577–8, 581
investor-owned businesses, comparison with 570, 571–84
market approach 585–6
ownership xxv, 4, 6–7
performance of member-owned businesses since crisis xxxvi, 570–84
producer co-operatives 571
profit maximization 571
resilience xxxvi, 571, 579–80, 582
retail consumer co-operatives 572, 576–7, 581
retailer-owned wholesale distribution co-operatives xxxvi, 578–9
risk xxxvi, 570, 582
sectors 572
shared service co-operatives 572
shareholder value 22–3, 572
socially sustainable enterprises xxxvi, 585–6, 590–1
stakeholders 572
trust 571
utilitarianism 22–3
worker co-operatives xxxvi, 571–2, 579–80, 582
worldwide credit union sector xxxvi, 570–1
financing
enterprise form 228, 229–31, 234–6, 239
financialization 446–7, 448–9
ICA 607
neoliberal governance 447, 448–9
socially sustainable enterprises xxxvi, 594–5, 596
worker co-operatives 132
Finland
agricultural co-operatives 159
consumer co-operatives 103, 576–7, 581
credit unions and co-operative banks xxviii, 150
forestry industry co-operatives 103
historical perspective 103
mutual insurance co-operatives 103
non-labour income 375
social and solidarity co-operatives 174
universal basic income (UBI) 376
utilities 188
water companies 188
Fischer, KP 150
Fischer, P 556
Fock, A 517
Foerster, Robert 122
for-profit enterprises see also differentiation between for-profit enterprises and co-operatives
archetypical form of enterprise, presumption of xxv, 14
autocracy 5889
broad-based stock ownership (BBSO) in corporate businesses 375, 377
company capital model 145
company law 589–90
co-operative law xxxv, 40–1, 540, 543, 547
co-ordination mechanism, cooperation as a 56, 69
corporate social identity 49
(p. 627) failures of current model 5–9
financial crisis of 2008 570, 571–84
future of enterprises xxxvi, 197, 599–602
information asymmetries 590
motivation 589
participation 599–601
principles and values xxvi, 43–4, 47
public limited companies (PLCs) 14–15
Shareholder Value (SHV) theory 19–23
sustainability 589–90, 601–2
trust 89, 600–1
worker co-operatives, conversion of 102
Ford, Gerald 126
Fordism 98–9, 111
foreign ownership laws 202
form of organizations see enterprise form
Fortune Magazine 220
Fourier, Charles 528
France see also France, multi-stakeholder co-operatives in Movement of Farm Machinery Co-operatives (CUMAs) in
agricultural co-operatives 179
agro-industry 106
alliances 106
collective interest co-operatives 548
construction sector 133
consumer co-operatives 106, 576
credit unions and co-operative banks xxviii, 106, 156, 573
democracy 179
electricity 188
employee ownership 201
entrepreneurialism 179
historical perspective 106
insurance 106, 109
Intermarche 379
local development 178, 179, 180
manufacturing sector 133
multi-stakeholders 179, 181
non-members, co-operative activities with 546
number of co-operatives 132–3
number of employees 133
pay 138
personalist thinkers 280
profit buy-back rule, compulsory 135–7
retail co-operatives 106, 379
rural development 178, 179, 180
SCICs 179, 181
sectors 133, 261
SICAEs 188
small-sized enterprises 261, 272
social and solidarity co-operatives 174–5, 178, 179, 180–1
under-investment 135–7
universal basic income (UBI) 376
utilities 188
worker co-operatives 102, 132–7, 579
France, multi-stakeholder co-operatives in Movement of Farm Machinery Co-operatives (CUMAs) in 499–511
Bois Bocage Energie (Hedge Fuel Wood) 509–10
case studies 502, 508–10
CIAP 508–9
collective innovation 506
collective organizations 501
consumers/employees, divorce between 506
demographics 508
double quality principle 503
economic needs xxxiv
entrepreneurial activities xxxiv, 504–5
environmental management 507–8, 509–10
FNCUMA 506
fodder revolution 501
Font del Prat, CUMA of 502
GAEC, creation of 501
globalization 508
historical perspective 500–2, 503
incubators and nurseries 507
Jeunesse Agricole Catholique (JAC) 501
legal status of agricultural co-operatives 504
living conditions 501
local authorities, working with and for 504
local development initiatives 500
local shops 507
Marshall Plan 500–1
mechanization 500–2
multi-stakeholder co-operatives 503–10
mutuals 499–500
(p. 628) national network 500
new forms of co-operation 508
new multi-actor co-operatives in rural territories 507–8
number of co-operatives 499–500
progressive installation in farming 508–9
RENETA network 507
representative bodies, recognition of 501
rural areas xxxiv, 499–500, 503, 506–8
SCICs (collective interest co-operative enterprise) 505–10
Scop National Conference 505
state-subsidized loans 501
worker co-operatives 504–6
working conditions 501
youth 501, 505, 507, 508
Franco, Francisco 107–8, 280
Fraunhofer Institutes 11
free and equal personhood 27
free riders 218–20, 593
Freeman, Edward 20
Freeman, Richard 212, 389, 423
Frei Montalva, Eduardo 337
Friedman, Milton 20, 22, 375, 448
friendly societies 234, 241, 428, 552, 568, 577
Fukushima disaster 321
Fulton, M 251
fundamental rights 30, 33, 44, 46–7, 545, 589, 591–2
Furubotn, EG 57, 65, 134–5
future of co-operative business model 598–609
Blueprint for a Co-operative Decade. ICA xxxvi, 599–602
challenges 602–5
differentiation 604–5
ideology 602
scale 603–4
conventional corporations, co-operatives distinguished from xxxvi, 599–602
co-operative, definition of xxxvi, 599
core identity xxxvi, 598–9
differentiation 604–5
financial crisis of 2008 582
growth, creating the conditions for 605–8
ICA
Blueprint for a Co-operative Decade. ICA xxxvi, 599–602
global marque, launch of 599
ICA Statement on Co-operative Identity, Principles under xxxvi, 598–9, 601
co-operative, definition of xxxvi, 599
guidance notes 599
ideology 602
intergovernmental organizations 599
interpretation 599
sustainability 601
ideology 602
inequalities 600
Internet 599, 600
participation 599–601
scale 603–4
social economy options, co-operatives distinguished from xxxvi
social principles 599
sustainability xxxvi, 601–2
trust 600–1
game theory 66
Gebhard, Hannes 103
Gebhard, Hedvig 103
gender see women
general interest services 76–7, 84, 173–5, 180–1, 186, 547–8
Germany see also Germany, co-operative banking in; Germany, co-operatives and transformation of energy sector in
apprenticeships 11
central management organization 107
consumer co-operatives 107, 576, 578
credit unions and co-operative banks 107
democracy, decentralization in name of 107
entrepreneurship 180
family firms 17
Fraunhofer Institutes 11
historical perspective 107
insurance 109
Mittelstand 5
mutuals 102
Nazi regime 107
(p. 629) regionalization 107
retail co-operatives 107
size 11, 107, 272
small and medium-sized enterprises 11
social and political dimensions 86
social and solidarity co-operatives 174–5, 180–1
sustainability 601–2
trusts 591
universal basic income (UBI) 376
wholesale distribution co-operatives 578
worker co-operatives 579
worker participation 107–8
Germany, co-operative banking in 398–411
assets-based market share 402, 405–6
auditing associations 404–5
bancassurance groups 401
BAG Bank Aktiengesellschaft 407–8
BBBank 405
church co-operative banks 405
consultation 590
co-operative principle 399, 404
costs-earnings-based market shares 403
decentralized networks xxviii, 154
default risk 399
democracy 399–400
diversity 156
DZ Bank AG 400, 407
economic and legal background 399–400
economic development 398
financial crisis of 2008 409, 573–4
German banking system 400–2
GZ-Bank AG 400
historical perspective 105
identity, principle of 399
legal form 400
local co-operative banks 405–8
mergers 406–7
number of credit institutions and branches 404, 406
off-balance sheet activities 401
pharmacists and doctors 405
position in the market 401–2
primary services 400–1
private lenders 399
promotion 399
PSD banks 404–5
public officers 405
Raiffeisen model xxxii–xxxiii, 146–7, 149, 401, 404–5, 408
retail banking 404
savings banks 406–7
Schultze-Delitzch model 102, 146–7
self-help 399, 404
self-management 399–400
self-responsibility 399–400
size of banks 408
small and medium-sized enterprises 399
social development 398
Sparda banks 404–5
structure 400–1
sub-groups 402–3, 405
supervision 408
voting rights, equality of 399–400
WGZ-Bank AG 400
Germany, co-operatives and transformation of energy sector in 187, 321–34
barriers to entry 323, 331
biogas 326
biomass 321, 323
Capital Investment Law 332
citizen participation 322, 326, 330–1
climate change xxxi, 321
competitive advantage 330
conflicts xxxi, 323, 325–6
costs of ownership, typology of factors with impact on 330
decentralization 322, 332
democratization 322, 332
direct marketing 323, 331
distribution 323
diversification 327, 331
electricity sector 321, 323–4, 327–8, 330–1
emission targets 321
exporter of energy 322
feed-in tariffs 323–4, 326, 331
financial crisis of 2008 332
financial incentives 323–4
financial regulation mechanism 331
food crops, use of 326
future 331–2
governance 330
(p. 630) greenhouse gases 321
grids 325, 327
hydro energy 321
identity, conflicts over 326
investment per member 328
job creation 322
land use, conflicts over 325–6
liberalization of energy sector 323
local co-operatives 322
market premium