Investing in a cooperative has broader goals for members than merely maximizing short-term returns. Even if the payback horizon is far off, new members are still willing to invest. There are, however, a few important conditions. One is the principled choice of open membership, where all members are equal and no special ownership rights exist. A cooperative that deviates from this risks sliding down a slippery slope. Another condition is the (re)recognition by members of the broader purpose and mission of the cooperative. This entails continuously affirming, in word and deed, that the well-being of members takes precedence over maximizing the company’s profits.
Reference
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M. Fulton & K. Giannakas, 2012. The value of a norm: Open Membership and the horizontal Problem in Cooperatives, in: Journal of Rural Cooperation, vol .40, 2, p. 145 – 161