Catching a wave: the formation of co-operatives in Finnish regions

@article{Kalmi2013CatchingAW,
  title={Catching a wave: the formation of co-operatives in Finnish regions},
  author={Panu Kalmi},
  journal={Small Business Economics},
  year={2013},
  volume={41},
  pages={295-313}
}
  • P. Kalmi
  • Published 1 June 2013
  • Economics
  • Small Business Economics
This paper compares the formation rates of co-operatives and conventional firms in Finland using regional data. The Finnish co-operative “wave” that began in the mid-1990s provides a useful setting for testing the hypothesis that co-operative formation rates are higher in depressed economic conditions. The empirical results support this hypothesis. Co-operatives are formed more often in regions with high unemployment; in contrast, conventional firms are formed more often when unemployment is… 
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