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May 24, 2016
- handle: 10670/1.06xcmy
- hal: hal-02153848
info:eu-repo/semantics/OpenAccess
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Distribution, Cooperative Cooperative associations Co-operative societies Cooperative distribution Co-ops (Cooperative societies) Stores, Cooperative Cooperatives Cooperative stores Coops (Cooperative societies)Cite this document
Justine Valette et al., « Survival in the French wine industry: cooperatives vs corporations », HALSHS : archive ouverte en Sciences de l’Homme et de la Société, ID : 10670/1.06xcmy
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Abstract
This paper examines the survival rates of cooperatives. Traditional theories suggest that cooperatives are inefficient and consequently are prone to failure, but recent literature suggest they could be more resilient. Can cooperatives cope better? We found that French wine cooperatives survive longer than corporations. This result is robust to semi-parametric and parametric models, even when we control for mergers and acquisitions exits. The higher survival rate of wine cooperatives seems to be associated with an ability to shift the fluctuations of their environment to their members.