« Potts and Hartley, "How the Social Economy Produces Innovation" | Main | Special issue of Review of Social Economy on "Ethics, Global Finance, and the Great Recession" »


Jones and Kalmi, "Membership and Performance in Finnish Financial Cooperatives: A New View of Cooperatives?"

ROSEMany economists adopt a critical stance on cooperatives. One example is the claim that larger membership in cooperative banks is detrimental to performance. We re-examine this earlier finding by drawing from a richer and broader conceptual framework than used previously and conclude that in recent years, the relationship between membership and performance may be positive. In our empirical analysis, we use new data for Finnish cooperative banks and, compared to earlier work, develop an alternative measure for membership and employ improved estimation methods. A positive relationship between membership and performance in financial cooperatives is consistently found. We discuss our findings in light of an emerging body of theoretical and empirical work on cooperatives, especially for financial cooperatives, and argue that a new view of cooperatives is warranted.

Derek Jones & Panu Kalmi, "Membership and Performance in Finnish Financial Cooperatives: A New View of Cooperatives?", Review of Social Economy, 73/3 (2015), pp. 283-309.


Feed You can follow this conversation by subscribing to the comment feed for this post.

Verify your Comment

Previewing your Comment

This is only a preview. Your comment has not yet been posted.

Your comment could not be posted. Error type:
Your comment has been posted. Post another comment

The letters and numbers you entered did not match the image. Please try again.

As a final step before posting your comment, enter the letters and numbers you see in the image below. This prevents automated programs from posting comments.

Having trouble reading this image? View an alternate.


Post a comment