{"title":"Cooperatives and sustainability drivers in the Spanish wine sector. What differences do we find with investor owner firms?","authors":"Juan Ramón Ferrer, María-Carmen García-Cortijo, Juan-Sebastián Castillo Valero, Vicente Pinilla, Raúl Serrano","doi":"10.1111/apce.12432","DOIUrl":"10.1111/apce.12432","url":null,"abstract":"<p>The fight against climate change has become a basic vector for agri-food business strategies. In Spain, commercial wineries (Investor Owner Firms, IOFs) and cooperatives are facing major challenges in adapting to the most stringent environmental requirements and in becoming sustainable and environmentally responsible companies. The European winemaking model, unlike its “new world” competitors, has a very distinct configuration with the predominance of the social economy in parallel with capitalist enterprises. However, these two forms of business organization are different in terms of objectives, position in the value chain, type of organization and form of management. The purpose of this paper is to determine whether these two types of companies have a different orientation towards sustainability, and which are the drivers that facilitate a greater approach to sustainability in each group. With a sample of 411 wineries, the results of the study show a lower orientation towards sustainability among the cooperatives, without a relevant alignment of their resources towards this objective. However, IOFs orient their resources towards sustainability in a consistent and strategic way. This may infer that the European model, with a clear advantage in the social component, could be somewhat more limited in the environmental aspect.</p>","PeriodicalId":51632,"journal":{"name":"Annals of Public and Cooperative Economics","volume":"95 2","pages":"505-526"},"PeriodicalIF":1.6,"publicationDate":"2023-05-23","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"https://onlinelibrary.wiley.com/doi/epdf/10.1111/apce.12432","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"90950093","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":4,"RegionCategory":"经济学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"OA","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
María Jesús Segovia-Vargas, I. Marta Miranda-García, Freddy Alejandro Oquendo-Torres
{"title":"Sustainable finance: The role of savings and credit cooperatives in Ecuador","authors":"María Jesús Segovia-Vargas, I. Marta Miranda-García, Freddy Alejandro Oquendo-Torres","doi":"10.1111/apce.12428","DOIUrl":"https://doi.org/10.1111/apce.12428","url":null,"abstract":"<p>The current world situation leads us to consider that sustainable development needs to be a global priority to ensure the future of the planet and improve the quality of life. There is a need for sustainable finance to support this. Savings and credit cooperatives could help to achieve this impact as they serve the microfinance and microlending market. They facilitate the financial inclusion of the most vulnerable people, most of whom live in rural areas and are members of organizations, such as agricultural cooperatives and associations. Previous studies have focused exclusively on overall profitability, so this paper contributes to extending the literature by analyzing the whole population of savings and credit cooperatives in Ecuador (510 institutions), focusing on their profitability in two ways: the overall profitability necessary for the viability of the business and, in addition, the microcredit portfolio profitability, as a specific measure of its contribution to sustainability and social value creation. Another novelty is that the analysis has been carried out using several machine learning techniques for the wider generalization of the results. These show that size is the most relevant variable for predicting the ROE and that the microcredit portfolio profitability is conditioned by the credit variables.</p>","PeriodicalId":51632,"journal":{"name":"Annals of Public and Cooperative Economics","volume":"94 3","pages":"951-980"},"PeriodicalIF":1.6,"publicationDate":"2023-05-18","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"https://onlinelibrary.wiley.com/doi/epdf/10.1111/apce.12428","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"50152116","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":4,"RegionCategory":"经济学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"OA","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
Elena Meliá-Martí, Deolinda Meira, José Corberá Martínez, Rui Bertuzi
{"title":"Cross-border cooperation: A response to the challenges facing agri-food cooperatives in Southern European countries","authors":"Elena Meliá-Martí, Deolinda Meira, José Corberá Martínez, Rui Bertuzi","doi":"10.1111/apce.12430","DOIUrl":"https://doi.org/10.1111/apce.12430","url":null,"abstract":"<p>All agri-food cooperatives share common interests, irrespective of their geographical borders, which should encourage them to undertake inter-cooperation processes as well as to set up transnational cooperatives. This paper has two objectives. The first is to analyze Spanish and Portuguese cooperative regulations and the Statute for a European Cooperative Society to define how to embark on these processes in the two countries while also pinpointing the conflicts that may arise from the different regulations. Secondly, it seeks to ascertain which Spanish and Portuguese cooperatives have had experience in this field and to characterize them through a multiple-case study, including the rationale for the processes, the advantages and the constraints. The results have revealed five cross-border cooperation categories and show that the Statute for a European Cooperative Society has not had the expected success at the EU level, due to its complexity. However, in general, the lack of expected cross-border cooperative experiences is not due to legal, language or management issues. It is for different reasons. Firstly, cooperatives think that they can achieve the same objectives through inter-cooperative agreements. Secondly, government policies protect the regional nature of their cooperatives, rather than encouraging them to expand their business and therefore their capacity to respond to current challenges.</p>","PeriodicalId":51632,"journal":{"name":"Annals of Public and Cooperative Economics","volume":"94 3","pages":"981-1006"},"PeriodicalIF":1.6,"publicationDate":"2023-05-18","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"https://onlinelibrary.wiley.com/doi/epdf/10.1111/apce.12430","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"50152117","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":4,"RegionCategory":"经济学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"OA","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
Shubham Chavriya, Gagan Deep Sharma, Mandeep Mahendru
{"title":"Financial inclusion as a tool for sustainable macroeconomic growth: An integrative analysis","authors":"Shubham Chavriya, Gagan Deep Sharma, Mandeep Mahendru","doi":"10.1111/apce.12427","DOIUrl":"10.1111/apce.12427","url":null,"abstract":"<p>Despite extensive research on the relationship between financial inclusion and macroeconomic growth, little is known about the role of financial inclusion as a significant driver of macroeconomic growth in developing countries. Financial inclusion could boost sustainable macroeconomic growth, which has been a key policy goal for governments worldwide because it affects employment, population, inequality, and poverty. This study explores the influence of crucial financial inclusion indicators on developing countries' macroeconomic growth. The study shows that digital finance, financial technologies, financial outreach, financial literacy, demographics access to finance, microfinance and financial stability are the ways through which financial inclusion affects macroeconomic growth. We used the Scopus database to get information from 419 research articles and analyzed those to figure out how financial inclusion affected macroeconomic growth from 2006 to 2020. The study will help policymakers, governments, and marketers develop policies to involve everyone in the financial system, which results in macroeconomic growth.</p>","PeriodicalId":51632,"journal":{"name":"Annals of Public and Cooperative Economics","volume":"95 2","pages":"527-551"},"PeriodicalIF":1.6,"publicationDate":"2023-05-16","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"76983627","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":4,"RegionCategory":"经济学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
{"title":"Are governments bad entrepreneurs? On productivity and public ownership in Central European post-Communist countries","authors":"Philipp Steinbrunner","doi":"10.1111/apce.12429","DOIUrl":"10.1111/apce.12429","url":null,"abstract":"<p>Although Central European post-communist countries have considerably liberalized energy sectors, privatizations have been poorly implemented establishing legal monopolies and retaining governments' pervasive influence. This study examines the effects of state ownership on productivity and Lerner indices, using a dataset on Central European firms, operating in industries of general interest, from 2009 to 2017. This study contributes to the literature by estimating production functions of energy companies, establishing a link between government ownership, and productivity and Lerner indices, applying continuous measures of state ownership, and evaluating impacts across quantiles. The overall results highlight that state ownership is associated with significant productivity losses, which increase over quantiles, and lower market power.</p>","PeriodicalId":51632,"journal":{"name":"Annals of Public and Cooperative Economics","volume":"95 1","pages":"33-66"},"PeriodicalIF":1.6,"publicationDate":"2023-05-13","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"88522988","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":4,"RegionCategory":"经济学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
Giorgia Trasciani, Giovanni Esposito, Francesca Petrella, Vincenzo Alfano, Giuseppe Lucio Gaeta
{"title":"The institutional shaping of third sector organizations: Empirical evidence from Italian provinces","authors":"Giorgia Trasciani, Giovanni Esposito, Francesca Petrella, Vincenzo Alfano, Giuseppe Lucio Gaeta","doi":"10.1111/apce.12425","DOIUrl":"10.1111/apce.12425","url":null,"abstract":"<p>By relying on province-level data from Italy, this paper empirically studies the factors that correlate with the development of third sector organizations (TSOs) in the Italian territory. Moving beyond traditional explanations of TSOs development based on population heterogeneity theories, our analysis points to the role of public institutions as key driving factors of Italian TSOs development. It specifically suggests that public authorities may shape the development of TSOs through three different, albeit interconnected, institutional dimensions: (1) control of corruption—that is, design and implementation of policies and regulations to prevent corruption and strengthen trust in the relationships between public authorities and TSOs; (2) rule of law—that is, creation of stable legal frameworks to reduce the uncertainty faced by TSOs when collaborating with the public sector and to limit arbitrary decisions by politicians and bureaucrats; (3) government effectiveness—that is, improving governments’ credibility and administrative capacity to provide grants and funds to TSOs for social and public services delivery.</p>","PeriodicalId":51632,"journal":{"name":"Annals of Public and Cooperative Economics","volume":"95 1","pages":"153-176"},"PeriodicalIF":1.6,"publicationDate":"2023-05-07","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"https://onlinelibrary.wiley.com/doi/epdf/10.1111/apce.12425","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"86616506","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":4,"RegionCategory":"经济学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"OA","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
Pedro Henrique Rodrigues de Sousa, Edgar Reyes Junior, Víctor del Corte Lora
{"title":"Development, validation, and reliability of a measurement scale for investigating the principle of intercooperation","authors":"Pedro Henrique Rodrigues de Sousa, Edgar Reyes Junior, Víctor del Corte Lora","doi":"10.1111/apce.12426","DOIUrl":"10.1111/apce.12426","url":null,"abstract":"<p>The present study aims to develop and validate a measurement scale for investigating the principle of intercooperation, in order to provide researchers in the field of cooperativism with a valid and reliable measure. To this end, four main steps were followed: conceptual mastery, theoretical validation, semantic validation, and statistical validation. First, a preliminary scale was developed based on a literature review and interviews with 20 representatives of cooperatives and representative organizations. Later, the evaluation was carried out by eight academic judges and analyzed using the Content Validity Coefficient. A pre-test was then carried out with subjects from the population, and subsequently the scale was applied to a sample of 213 cooperatives. Finally, factor analysis was performed with the aim of evaluating convergent and factorial validity as well as individual and construct reliability. Thus, it is proposed that the principle of intercooperation be measured by two different scales. The first, called “Horizontal Intercooperation”, presented a Composite Reliability equal to 0.81 and Average Variance Extracted equal to 0.68. The second, called “Vertical Intercooperation”, presented a Composite Reliability equal to 0.96 and Average Variance Extracted equal to 0.69. After the analyses, the proposed intercooperation scales showed signs of validity and reliability.</p>","PeriodicalId":51632,"journal":{"name":"Annals of Public and Cooperative Economics","volume":"95 2","pages":"553-572"},"PeriodicalIF":1.6,"publicationDate":"2023-05-05","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"82944520","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":4,"RegionCategory":"经济学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
{"title":"Measuring individual social capital in cooperatives in West Shoa, Ethiopia","authors":"Daniel Belay, Asegedech Wondimu","doi":"10.1111/apce.12422","DOIUrl":"10.1111/apce.12422","url":null,"abstract":"<p>The aim of the paper is to extend the knowledge of the measurement of dimensions of social capital in cooperatives. The paper draws on data collected in a survey of 154 members in dairy cooperatives to develop and test composite indicators for measuring dimensions of social capital: structural, relational, and cognitive. Principal component analyses (PCAs) were performed on the data sets of indicators of dimensions of social capital. The Kaiser–Meyer–Olkin measure of sampling adequacy and Bartlett's test of Sphericity supported the appropriateness of performing PCAs. After the extraction of the principal components, intermediate composite indicators were computed for the dimensions of social capital. Finally, the composite indicators were computed as linear weighted aggregations of the intermediate composite indicators. The internal consistency of the composite indicators was verified using Cronbach's alpha. The method provided single, synthetic measures for the dimensions of social capital, which are robust and exhibit construct validity. The paper provided practical knowledge that can be applied to measuring dimensions of social capital in cooperatives.</p>","PeriodicalId":51632,"journal":{"name":"Annals of Public and Cooperative Economics","volume":"95 2","pages":"573-594"},"PeriodicalIF":1.6,"publicationDate":"2023-05-04","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"75549824","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":4,"RegionCategory":"经济学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
{"title":"False prosperity: Rethinking government support for farmers’ cooperatives in China","authors":"Feifei Chen, Zhigang Xu, Yufeng Luo","doi":"10.1111/apce.12420","DOIUrl":"https://doi.org/10.1111/apce.12420","url":null,"abstract":"<p>The rapid development of farmers’ cooperatives in rural China cannot be separated from government support. To ensure the growth of farmers’ cooperatives, the Chinese government uses it as a key performance indicator for its local institutions. Superficially, rural China's cooperative population and membership size witnessed rapid growth during the first decade after the Farmers’ Specialized Cooperatives Law was enacted in 2007; however, such government intervention also leads to non-standard phenomena due to market distortion. Using nationally representative survey data from 504 cooperatives in Jiangsu, Jilin, and Sichuan provinces, this paper provides a reliable estimate of the “shell cooperative” rate around 2014. The empirical study sheds further light on the role of government during the period of rapid but chaotic growth by a subset containing 241 marketing cooperatives. Results show that direct administrative intervention leads to the emergence of many shell cooperatives (approximately 37%). Further study also confirms that task-oriented policy support is only positively associated with the nominal coverage ratio but has no significant relationship with cooperatives’ function. This study provides new insights into the formation of shell cooperatives and suggests that direct administrative intervention may not be a good strategy for promoting the sustainable development of farmers’ cooperatives.</p>","PeriodicalId":51632,"journal":{"name":"Annals of Public and Cooperative Economics","volume":"94 3","pages":"905-920"},"PeriodicalIF":1.6,"publicationDate":"2023-04-25","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"50143172","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":4,"RegionCategory":"经济学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
{"title":"What are the determinants affecting cooperatives’ profitability? Evidence from Spain","authors":"Mercè Sala-Ríos","doi":"10.1111/apce.12423","DOIUrl":"10.1111/apce.12423","url":null,"abstract":"<p>This study focuses on the analysis of the determinants of Spanish cooperatives’ profitability. We inspect several variables, whose influence on firms’ profitability has been verified by prior literature, and we assess whether these results are confirmed in cooperatives. The data span 13 years (2008–20). We approach the analysis including: (i) firm-specific factors, (ii) industry-specific factors, and (iii) location factors. There is a main research question: Are there significant differences in cooperatives’ profitability depending on firm-specific, industry-specific and/or location factors? The results emphasize that firm-specific effects are the most important for cooperatives’ profitability. Summarizing our findings, cooperatives’ profitability is positively affected by size, liquidity, indebtedness, regional specialization in cooperatives, location economies, and lagging profitability, and negatively affected by age and presence in international markets.</p>","PeriodicalId":51632,"journal":{"name":"Annals of Public and Cooperative Economics","volume":"95 1","pages":"85-111"},"PeriodicalIF":1.6,"publicationDate":"2023-04-25","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"https://onlinelibrary.wiley.com/doi/epdf/10.1111/apce.12423","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"74175712","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":4,"RegionCategory":"经济学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"OA","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}