Spatial patterns and determinants in New Firm Formation: are cooperatives different?

Panel data on the entry of both worker
cooperative and capitalist firms in Spain are used to
test the spatial determinants at regional level. Coop-
erative firms in general are also included in the
analysis. We focus on supply, demand and institu-
tional factors, including specific factors of coopera-
tives as model of analysis. Data are for the period
1995–2009 for NUT-2 regions in Spain, one of the
European countries with a more dynamic cooperative
sector. Results show the main determinant of the
creation of worker cooperatives is the unemployment
level, followed by the wage level in the region, the
population growth and the emergence of strong
cooperative culture. We also find the party in the
regional government affects to the creation rate.
Compared with capitalist firms, we observe a contrary
sense in the influence of unemployment level and a
higher importance of the influence of the governing
party
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