✦ LIBER ✦
Shadow price of capital and the Furubotn–Pejovich effect: Some empirical evidence for Italian wine cooperatives
✍ Scribed by Ornella Wanda Maietta; Vania Sena
- Publisher
- John Wiley and Sons
- Year
- 2008
- Tongue
- English
- Weight
- 102 KB
- Volume
- 24
- Category
- Article
- ISSN
- 1524-1904
- DOI
- 10.1002/asmb.731
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✦ Synopsis
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. Copyright © 2008 John Wiley & Sons, Ltd.