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Journal ArticleDOI

Another French Social Innovation: Cooperatives of Salaried Entrepreneurs

TL;DR: In this paper, a case study on a social innovation where the institutions are being transformed to introduce new legal forms is presented, based on a review of laws and regulation, literature review supplemented with exploratory interviews of such entrepreneurs.
Abstract: Type of Paper: Exploratory, descriptive, case study Objectives: In the wake of the global crisis, the role of the financial markets is being questioned and new forms of social innovations focusing on stakeholder governance and cooperation are being experimented This paper looks into one such social innovation: Cooperative d'Activite de d'emploi Design/ Methodology: This is a case study on a social innovation where the institutions are being transformed to introduce new legal forms This is a cooperative of entrepreneurs where the entrepreneurs are salaried employees The research is being based on a review of laws and regulation, literature review supplemented with exploratory interviews of such entrepreneurs Key Results: The paper finds out differences between these cooperatives and concepts such as nurseries and incubators It explains the process of evolution of these cooperatives It points out the limitations of the regulatory regime Value: The financing of microentrepreneurs without subsidies is a problematic issue Over-reliance on Microcredit places stress The sharing of expenses and cost reduction leads to lower needs for microcredit It also provides the microentrepreneurs a new form of governance and opportunities for networking, developing citizenship and social wellbeingImpact: If adopted in other parts of the (developed) world, such cooperatives could help overcome downside risk, loss aversion, isolation and poverty traps of unemployment benefits
Citations
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Journal ArticleDOI
TL;DR: In this paper, the authors discuss how regulatory environment can be a fundamental constraint or lever in defining the scope of operations of a social innovation, and explore these regulatory issues and their impact on marketing practices.
Abstract: Purpose – The purpose of this paper is to discuss how regulatory environment can be a fundamental constraint or lever in defining the scope of operations of a social innovation. Design/methodology/approach – Semi-structured interviews with top-level executives of pioneers of crowdfunding were run in India and France, two of the three leading countries in this field. Findings – Four main issues rise: choice of legal status, constraints for the operations model, compliance with anti-money laundering measures and challenges in marketing and sustainability. Originality/value – This paper contributes to knowledge advancement in the field of this new funding actor that could challenge the banking system. This is the first paper to explore these regulatory issues and their impact on marketing practices.

21 citations

Journal ArticleDOI
TL;DR: In this paper, a discussion paper on whether institutions can be changed through public policy changes, using the example of a new movement in the making: slow money, is presented, and the principles of this movement have been indicated and for each of these, a contrast made with its polar opposite.
Abstract: This is a discussion paper on whether institutions can be changed through public policy changes, using the example of a new movement in the making: slow money. The principles of this movement have been indicated and for each of these, a contrast made with its polar opposite. Conforming to all the principles leads to a rather minority group which can grow only with mutual help from the grassroots. To require public policy support, associating with similar movements or other stakeholders may be necessary.
References
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01 Jan 2014
TL;DR: Un descriptif rapide des quelques idées and résultats que j’ai pu obtenir dans ces thèmes de géométrie riemannienne isopérimétriques renvoient aux articles figurant dans ma liste de publications.
Abstract: J’ai commencé ma carrière sous la direction de M. Berger qui m’a posé des questions concernant le spectre du Laplacien des variétés riemanniennes. Par la suite cela m’a conduit naturellement à aborder d’autres aspects de la géométrie riemannienne : inégalités isopérimétriques, géométrie ergodique, etc. Depuis je reviens régulièrement sur ces sujets afin de bénéficier des idées et techniques apprises par ailleurs. Voici un descriptif rapide des quelques idées et résultats que j’ai pu obtenir dans ces thèmes. Les numéros entre crochets renvoient aux articles figurant dans ma liste de publications.

80 citations


"Another French Social Innovation: C..." refers background in this paper

  • ...…14,622 Provisions 92,940 22,787 70,153 Income taxes -1,472 -1,472 Total expenses 6,155,147 5,743,766 1,256,492 Surplus 113,355 83,783 29,572 Source: COOPANAME 2011 The cooperative sector is a small but growing sector of activity in France, as testified by table 4 which compares the growth of…...

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  • ...3 http://www.entreprise-partagee.eu/index.php?easiestml_lang=en Share of employment 2005 1.30% 100.00% 2010 1.40% 100.00% Employees Per Establishment 2005 13.2 10 2010 11.8 9.6 Source: INSEE...

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  • ...2012 68 4,000 37 544,118 9,250 59 Source: Bost (2011) and website of the federation of cooperatives....

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  • ...Table 3: COOPANAME INCOME STATEMENT for 2011 Income Total reported Activities Strucutres Management Fees 487,079 Production sold (goods) 687,456 687,456 Production sold (services) 4,458,272 4,705,458 98,326 Sale of Trading Goods 223,779 224,118 61 Production stocked 24,243 24,243 Capitalisation 43,000 43,000 Operating grants 662,279 662,279 Other income 60,915 37,325 23,590 Financial income 896 168 728 Extraordinary income 107,662 105,780 14,002 Total Income 6,268,502 5,827,549 1,286,064 Expenses Total reported Activities Strucutres Management Fees 487,079 Purchases of raw materials 369,800 369,792 8 Purchase of trading goods 122,870 122,870 400 Change in inventories -4,838 -4,838 Other external expenses 1,278,315 1,321,763 302,064 Taxes and similar payments 100,735 83,790 16,944 Salaries and wages 3,132,318 2,554,493 577,825 payroll taxes, social security charges 967,077 730,420 236,657 Other personnel expenses 13,498 5,925 7,573 Other management expenses 17,353 17,320 33 financial expenses 8,963 370 8,593 extraordinary charges 26,527 15,557 23,090 Depreciation 31,062 16,440 14,622 Provisions 92,940 22,787 70,153 Income taxes -1,472 -1,472 Total expenses 6,155,147 5,743,766 1,256,492 Surplus 113,355 83,783 29,572 Source: COOPANAME 2011 The cooperative sector is a small but growing sector of activity in France, as testified by table 4 which compares the growth of cooperatives to the total French economy during the period 2005-2010....

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Posted Content
TL;DR: In this article, a modification of the risk premium in order to take into account one behavioral aspect, that of loss aversion, which is not considered in the traditional method, is introduced, and a simulation with this newly generated method is provided.
Abstract: During and after economic crisis, there is a tendency to have less projects approved owing to loss aversion. The paper introduces a modification of the risk premium in order to take into account one behavioral aspect, that of loss aversion, which is not considered in the traditional method. Loss aversion distinguishes losses from gains in a nonlinear value function. Thus, if the range of possible outcomes includes losses and gains, the use of beta is put into doubt. The paper examines possible ways to save the use of beta for discounted cash flow analysis by revising the standard formulae and it provides a simulation with this newly generated method.

8 citations


"Another French Social Innovation: C..." refers background in this paper

  • ...This is because people are loss averse, or averse to downside risk (Ashta & Otto, 2011)....

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01 Jan 2011

2 citations


"Another French Social Innovation: C..." refers background in this paper

  • ...3 http://www.entreprise-partagee.eu/index.php?easiestml_lang=en Share of employment 2005 1.30% 100.00% 2010 1.40% 100.00% Employees Per Establishment 2005 13.2 10 2010 11.8 9.6 Source: INSEE...

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  • ...Number of CAE Number of salaried entrepreneurs Turnover of CAE (in millions of Euros) Turnover per CAE Euros Turnover per entrepreneur (Euros Entrepreneurs per CAE 2000 20 106 3 132,500 25,000 5 2006 61 1,527 22 354,393 14,157 25 2012 68 4,000 37 544,118 9,250 59 Source: Bost (2011) and website of the federation of cooperatives....

    [...]

  • ...2012 68 4,000 37 544,118 9,250 59 Source: Bost (2011) and website of the federation of cooperatives....

    [...]

  • ...Table 3: COOPANAME INCOME STATEMENT for 2011 Income Total reported Activities Strucutres Management Fees 487,079 Production sold (goods) 687,456 687,456 Production sold (services) 4,458,272 4,705,458 98,326 Sale of Trading Goods 223,779 224,118 61 Production stocked 24,243 24,243 Capitalisation 43,000 43,000 Operating grants 662,279 662,279 Other income 60,915 37,325 23,590 Financial income 896 168 728 Extraordinary income 107,662 105,780 14,002 Total Income 6,268,502 5,827,549 1,286,064 Expenses Total reported Activities Strucutres Management Fees 487,079 Purchases of raw materials 369,800 369,792 8 Purchase of trading goods 122,870 122,870 400 Change in inventories -4,838 -4,838 Other external expenses 1,278,315 1,321,763 302,064 Taxes and similar payments 100,735 83,790 16,944 Salaries and wages 3,132,318 2,554,493 577,825 payroll taxes, social security charges 967,077 730,420 236,657 Other personnel expenses 13,498 5,925 7,573 Other management expenses 17,353 17,320 33 financial expenses 8,963 370 8,593 extraordinary charges 26,527 15,557 23,090 Depreciation 31,062 16,440 14,622 Provisions 92,940 22,787 70,153 Income taxes -1,472 -1,472 Total expenses 6,155,147 5,743,766 1,256,492 Surplus 113,355 83,783 29,572 Source: COOPANAME 2011 The cooperative sector is a small but growing sector of activity in France, as testified by table 4 which compares the growth of cooperatives to the total French economy during the period 2005-2010....

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