SPÓŁDZIELNIA A KONCEPCJE NEOINSTYTUCJONALNE
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Date
2004
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Wydział Prawa i Administracji UAM
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COOPERATIVE AND THE NEOINSTITUTIONALISTS THEORIES
Abstract
The article evaluates the usefulness of agency theory and property rights and Williamson’s
transaction cost economics as a framework for discussing five major problems o f cooperatives.
Property rights held by cooperative owners and delegation of decision-making authority from
principal to agent impose a significant level o f conflict to the decision-making process, particularly
involving the allocation o f resources. As a result o f this inherent conflict, the traditional cooperative
exhibits five basic problems: free rider problem, horizon problem, portfolio problem, control problem
and influence cost problem. This article also examines how these problems are overcome by New
Generation Cooperatives.
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Citation
Ruch Prawniczy, Ekonomiczny i Socjologiczny 66, 2004, z. 3, s. 159-179.