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

Gabriel Burdí­n () and Andrés Dean ()
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Gabriel Burdí­n: Universidad de la República (Uruguay). Facultad de Ciencias Económicas y de Administración. Instituto de Economí­a

Authors registered in the RePEc Author Service: Gabriel Burdín ()

No 08-10, Documentos de Trabajo (working papers) from Instituto de Economia - IECON

Abstract: 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.

Keywords: capitalist firms; worker cooperatives; firm objectives (search for similar items in EconPapers)
JEL-codes: D21 J54 (search for similar items in EconPapers)
Pages: 32 pages
Date: 2008-12
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Journal Article: Revisiting the objectives of worker-managed firms: An empirical assessment (2012) Downloads
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