|Title||Co-operative Capital Units: Attractive Equity Instruments?|
|Publication Type||Book Chapter|
|Year of Publication||2012|
|Authors||Limnios, EM, Watson, J, Mazzarol, T, Soutar, G|
|Book Title||Co-operatives in the Fourth Sector: The Role of Member Owned Businesses in the Global Economy|
|Publisher||Tilde Publishing and Distribution|
|Keywords||Co-operative capital units, Co-operatives|
In this Chapter we review and classify the ownership and control structures applied by legislators and co-ops internationally. We also explore the nature of a financial instrument that can allow external investment without the dilution of member control and propose an equity structure that is responsive to changes in the balance of patronage and investment interests of members, allowing a co-op to move along the continuum from a “traditional” co-op to an “entrepreneurial” co-op (Nilsson 2001) under a single ownership and control structure.