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首页> 外文期刊>Applied stochastic models in business and industry >Shadow price of capital and the Furubotn-Pejovich effect: Some empirical evidence for Italian wine cooperatives
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Shadow price of capital and the Furubotn-Pejovich effect: Some empirical evidence for Italian wine cooperatives

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摘要

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.

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