Shadow price of capital and the Furubotn–Pejovich effect: Some empirical evidence for Italian wine cooperatives

作者: Vania Sena , Ornella Wanda Maietta

DOI: 10.1002/ASMB.V24:5

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摘要: We test the underinvestment hypothesis (the so-called Furubotn–Pejovich effect) from specialized literature on co-ops by comparing shadow price of capital and dual capacity utilization index for a panel Italian cooperative conventional firms, 1996–2003. The results do not show any difference between firms in this respect. Copyright © 2008 John Wiley & Sons, Ltd.

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