Is the investment decision different in cooperatives and conventional firms? A study on French data

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Issue Date
2009
Authors
Gago, Mónica
Pérotin, Virginie
Fakhfakh, Fathi
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Abstract
This paper uses brand new data set with 16 years of data (1989-2004) on French worker coops and conventional firms (all with 20 employees or more) in 7 manufacturing industries, to provide new “stylized facts”, estimate standard investment models and test whether worker coops invest less and allow for possible differences in both investment demand and financial constraints between conventional and labor-managed firms.
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