La financiación propia y ajena de las sociedades cooperativas

Abstract

This paper analyses the co-operative financial structure and compares it with the structure of conventional capitalist companies, showing the advantages and disadvantages of each form of finance. At the same time, we propose a classification of the different sources of co-operative company liabilities taking into account their singular characteristics and grouping liabilities into two large items; internal and external resources. Lastly, the paper makes reference to the new permanent methods of fund raising included in the Co-operatives Act 27/1999, which in order to facilitate business development of this business format has introduced novelties which could distort the workings and putting into use of some corporate principles.Co-operatives companies, financial structure, internal finance, external finance, new finance instruments.