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Did the Cooperative Start Life as a Joint-Stock Company? Business Law and Cooperatives in Spain, 1869-1931

Author

Listed:
  • Guinnane, Timothy W.

    (Yale University)

  • Martinez-Rodriguez, Susana

    (University of Murcia)

Abstract

Studies of Spanish cooperatives date their spread from the Law on Agrarian Syndicates of 1906. But the first legislative appearance of cooperatives is an 1869 measure that permitted general incorporation for lending companies. The 1931 general law on cooperatives, which was the first act permitting the formation of cooperatives in any activity, reflects the gradual disappearance of the cooperative's "business" characteristics. In this paper we trace the Spanish cooperative's legal roots in business law and its connections to broader questions of the freedom of association, the formation of joint-stock enterprises, and the liability of investors in business and cooperative entities. Our account underscores the similarities of the organizational problems approach by cooperatives and business firms, while at the same time respecting the distinctive purposes cooperatives served.

Suggested Citation

  • Guinnane, Timothy W. & Martinez-Rodriguez, Susana, 2010. "Did the Cooperative Start Life as a Joint-Stock Company? Business Law and Cooperatives in Spain, 1869-1931," Working Papers 81, Yale University, Department of Economics.
    • Handle: RePEc:ecl:yaleco:81
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    References listed on IDEAS

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    1. Guinnane, Timothy & Harris, Ron & Lamoreaux, Naomi R. & Rosenthal, Jean-Laurent, 2007. "Putting the Corporation in its Place," Enterprise & Society, Cambridge University Press, vol. 8(3), pages 687-729, September.
    2. Gustavo Yamada & Ricardo Montero, 2011. "Introducción," Chapters of Books, in: Gustavo Yamada & Ricardo Montero (ed.), Corrupción e inequidad en los servicios públicos en el Perú, edition 1, volume 1, chapter 1, pages 11-14, Fondo Editorial, Universidad del Pacífico.
    3. Simpson, James, 1999. "Cooperation and cooperative in southern European wine production : the nature of successful institutional innovation, 1880-1950," IFCS - Working Papers in Economic History.WH 6184, Universidad Carlos III de Madrid. Instituto Figuerola.
    4. Timothy W. Guinnane, 1997. "Cooperatives as Information Machines: German Rural Credit Cooperatives, 1883-1914," Discussion Papers 97-20, University of Copenhagen. Department of Economics.
    5. Guinnane, Timothy W., 2001. "Cooperatives As Information Machines: German Rural Credit Cooperatives, 1883–1914," The Journal of Economic History, Cambridge University Press, vol. 61(2), pages 366-389, June.
    Full references (including those not matched with items on IDEAS)

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    Cited by:

    1. Ingrid Henriksen & Eoin McLaughlin & Paul Sharp, 2015. "Contracts and cooperation: the relative failure of the Irish dairy industry in the late nineteenth century reconsidered," European Review of Economic History, European Historical Economics Society, vol. 19(4), pages 412-431.
    2. Hannah, Leslie & Kasuya, Makoto, 2015. "Twentieth century enterprise forms: Japan in comparative perspective," LSE Research Online Documents on Economics 64489, London School of Economics and Political Science, LSE Library.

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    More about this item

    JEL classification:

    • K20 - Law and Economics - - Regulation and Business Law - - - General
    • N23 - Economic History - - Financial Markets and Institutions - - - Europe: Pre-1913
    • N43 - Economic History - - Government, War, Law, International Relations, and Regulation - - - Europe: Pre-1913

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