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Cooperatives, Transferable Shares, And A Unified Business Law

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  • Kazuhiko MIKAMI

Abstract

This paper explores the implications of transferable shares in a cooperative firm as compared with shares in a capitalist firm. We argue that a cooperative firm issuing transferable shares is isomorphic to a capitalist firm as a business organization, while maintaining its essential characteristic of being owned not by capitalists but by members as input providers or output receivers. Based on this observation, we explore the possibility of developing a unified business law that regulates both capitalist and cooperative firms within a single legal framework.

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  • Kazuhiko MIKAMI, 2016. "Cooperatives, Transferable Shares, And A Unified Business Law," Annals of Public and Cooperative Economics, Wiley Blackwell, vol. 87(3), pages 365-390, December.
    • Handle: RePEc:bla:annpce:v:87:y:2016:i:3:p:365-390
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    File URL: http://onlinelibrary.wiley.com/doi/10.1111/apce.2016.87.issue-3/issuetoc
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    Cited by:

    1. Julia HÖHLER & Rainer KÜHL, 2018. "Dimensions Of Member Heterogeneity In Cooperatives And Their Impact On Organization – A Literature Review," Annals of Public and Cooperative Economics, Wiley Blackwell, vol. 89(4), pages 697-712, December.
    2. Mikami, Kazuhiko, 2018. "Are cooperative firms a less competitive form of business? Production efficiency and financial viability of cooperative firms with tradable membership shares," Economic Systems, Elsevier, vol. 42(3), pages 487-502.
    3. Dow,Gregory K., 2019. "The Labor-Managed Firm," Cambridge Books, Cambridge University Press, number 9781107589650.

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