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Extending the firm versus industry debate into social enterprises: A multilevel analysis on Spanish cooperatives 2008–2023

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dc.contributor.authorDoucet Sánchez, Pablo Francisco
dc.contributor.authorSolórzano García, Marta
dc.contributor.funderAgencia Estatal de Investigación (España)
dc.date.accessioned2025-12-09T10:13:56Z
dc.date.available2025-12-09T10:13:56Z
dc.date.issued2025-08-18
dc.descriptionThe registered version of this article, first published in “Annals of Public and Cooperative Economics, 1–24", is available online at the publisher's website: https://doi.org/10.1111/apce.70010
dc.descriptionLa versión registrada de este artículo, publicado por primera vez en “Annals of Public and Cooperative Economics, 1–24", está disponible en línea en el sitio web del editor: https://doi.org/10.1111/apce.70010
dc.description.abstractAn important debate in the field of strategy and industrial organization economics has long focused on whether the industry environment or firm idiosyncrasies have a greater impact on firm performance. However, cooperatives have been excluded from this inquiry, despite profits being the primary means to achieve their social objectives. This article examines the relative impact of firm and industry effects on cooperative profitability and compares these effects with those in investor-owned firms (IOFs). Additionally, it analyses how generalized economic adversity impacts the relative importance of firm and industry effects on cooperative profitability and compares these changes with those in IOFs. Using multilevel modelling, the study analyses around 8,678 Spanish cooperatives and equivalent IOFs from 2008 to 2023. The findings indicate that industry-level factors account for a greater share of profitability variation in cooperatives than in IOFs, whereas firm-specific effects are comparatively weaker. These patterns are accentuated during periods of economic recession, suggesting that cooperatives are more sensitive to sectoral conditions under adverse macroeconomic contexts.en
dc.description.sponsorshipUniversidad Nacional de Educación a Distancia; European Regional Development Fund; Ministerio de Ciencia e Innovación, Grant/Award Number: PID2022-136496NB-I00
dc.description.versionversión publicada
dc.identifier.citationDoucet, P., & Solórzano-García, M. (2025). Extending the firm versus industry debate into social enterprises: A multilevel analysis on Spanish cooperatives 2008–2023. Annals of Public and Cooperative Economics, 1–24. https://doi.org/10.1111/apce.70010
dc.identifier.doihttps://doi.org/10.1111/apce.70010
dc.identifier.issn1467-8292
dc.identifier.urihttps://hdl.handle.net/20.500.14468/31044
dc.journal.titleAnnals of Public and Cooperative Economics
dc.language.isoen
dc.page.final24
dc.page.initial1
dc.publisherWiley
dc.relation.centerFacultad de Ciencias Económicas y Empresariales
dc.relation.departmentOrganización de Empresas
dc.relation.projectidinfo:eu-repo/grantAgreement/AEIPlan Estatal de Investigación Científica y Técnica y de Innovación 2021-2023/PID2022-136496 NB-I00/ES/LA TRANSFORMACION ECONOMICA Y SOCIAL DE LA EMPRESA PARA SER SOSTENIBLE EN UNA ERA DISRUPTIVA
dc.rightsinfo:eu-repo/semantics/openAccess
dc.rights.urihttp://creativecommons.org/licenses/by-nc-nd/4.0/deed.es
dc.subject5311 Organización y dirección de empresas
dc.subject.keywordscooperatives profitabilityen
dc.subject.keywordsfinancial crisisen
dc.subject.keywordsfirm effectsen
dc.subject.keywordshierarchical linear modellingen
dc.subject.keywordsindustry effectsen
dc.subject.keywordsvariance decompositionen
dc.titleExtending the firm versus industry debate into social enterprises: A multilevel analysis on Spanish cooperatives 2008–2023en
dc.typeartículoes
dc.typejournal articleen
dspace.entity.typePublication
relation.isAuthorOfPublicatione6e3ff28-8dfb-474f-a832-75017e4cc7fc
relation.isAuthorOfPublication346b8d73-c1e4-43ba-a586-dbfb99aa9e90
relation.isAuthorOfPublication.latestForDiscoverye6e3ff28-8dfb-474f-a832-75017e4cc7fc
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