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Corporate governance and the Mondragón cooperatives

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dc.affiliation.dptoUC3M. Departamento de Economía de la Empresaes
dc.contributor.authorSurroca Aguilar, Jorge
dc.contributor.authorGarcía Cestona, Miguel A.
dc.contributor.authorSantamaría Sánchez, Luis
dc.date.accessioned2010-04-16T10:26:39Z
dc.date.available2010-04-16T10:26:39Z
dc.date.issued2006
dc.description.abstractThis paper builds upon recent advances in the corporate governance framework to extend and complement the economic literature on producer cooperatives. We argue that the problem of governance in a cooperative is twofold and consists in designing mechanisms and setting up institutions that (1) encourage workers to define a goal that maximizes workers’ welfare and (2) induce managers to pursue and internalize such a broad goal. When compared to capital-controlled firms, the agency problems become more complex and harder to solve in the cooperative framework. As empirical evidence of this problem and its corresponding solution, we illustrate the case of the Mondragón cooperatives, explaining in detail the incentive system and the control mechanisms now in place in this successful business group. The study of the governance architecture of Mondragón may help us to propose solutions to traditional problems of the cooperative firm and to reach a better understanding of both the governance of cooperatives and corporate governance in general.
dc.description.statusPublicado
dc.format.mimetypetext/plain
dc.format.mimetypeapplication/pdf
dc.identifier.bibliographicCitationManagement Research, 2006, v. 4, n. 2, pp. 99–112
dc.identifier.doi10.2753/JMR1536-5433040202
dc.identifier.issn1536-5433
dc.identifier.publicationfirstpage99
dc.identifier.publicationissue2
dc.identifier.publicationlastpage112
dc.identifier.publicationtitleManagement Research
dc.identifier.publicationvolume4
dc.identifier.urihttps://hdl.handle.net/10016/7596
dc.language.isoeng
dc.publisherEmerald
dc.relation.publisherversionhttp://dx.doi.org/10.2753/JMR1536-5433040202
dc.rights©Emerald
dc.rights.accessRightsopen access
dc.subject.ecienciaEmpresa
dc.titleCorporate governance and the Mondragón cooperatives
dc.typeresearch article*
dc.type.reviewPeerReviewed
dspace.entity.typePublication
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