We test the underinvestment hypothesis (the so-called Furubotn–Pejovich effect) from the specialized literature on co-ops by comparing the shadow price of capital and the dual capacity utilization index for a panel of Italian cooperative and conventional firms, 1996–2003. The results do not show any difference between co-ops and conventional firms in this respect.
Shadow Price of Capital and the Furubotn-Pejovich Effect: Some Empirical Evidence for Italian Wine Cooperatives / Maietta, ORNELLA WANDA; Sena, V.. - In: APPLIED STOCHASTIC MODELS IN BUSINESS AND INDUSTRY. - ISSN 1524-1904. - STAMPA. - 24:5(2008), pp. 495-505. [10.1002/asmb.731]
Shadow Price of Capital and the Furubotn-Pejovich Effect: Some Empirical Evidence for Italian Wine Cooperatives
MAIETTA, ORNELLA WANDA;
2008
Abstract
We test the underinvestment hypothesis (the so-called Furubotn–Pejovich effect) from the specialized literature on co-ops by comparing the shadow price of capital and the dual capacity utilization index for a panel of Italian cooperative and conventional firms, 1996–2003. The results do not show any difference between co-ops and conventional firms in this respect.| File | Dimensione | Formato | |
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