The Cooperative Difference in the Management Styles and Objectives: Phantom Effect of Credit Cooperative

Jose Luis Retolaza () and Leire San-Jose ()
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Jose Luis Retolaza: Deusto Business School
Leire San-Jose: University of the Basque Country (UPV/EHU)

Chapter Chapter 7 in Contemporary Trends in European Cooperative Banking, 2022, pp 143-164 from Springer

Abstract: Abstract “A spectre is haunting Europe: the spectre of communism” is how the Communist Manifesto famously starts. A spectre is now haunting Europe, the spectre of the credit unions. The difference is that Marx and Engels saw that spectre as a living force, capable of materialising and transforming reality, while whether the spectre in the second case will be able to materialise into an alternative capable of challenging the supremacy of commercial banking is doubtful. Is there a significant difference between cooperative and commercial banking? This is the question that want to answer in this chapter. The chapter identifies the possible existence of a “phantom effect” in the image projected by financial cooperatives. The Monetary Social Accounting is proposed as an antidote to this effect.

Keywords: Financial cooperatives; Cooperative banks; Social performance; Ghost effect; Financial entities; Social accounting (search for similar items in EconPapers)
Date: 2022
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Persistent link: https://EconPapers.repec.org/RePEc:spr:sprchp:978-3-030-98194-5_7

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DOI: 10.1007/978-3-030-98194-5_7

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