Indirect member representation in cooperatives and dividend policy

Reichel R, Wrede M (2026)

Publication Type: Journal article

Publication year: 2026

Journal

Economia Politica Società Editrice il Mulino

DOI: 10.1007/s40888-026-00414-4

Abstract

In this paper, we examine the effects of introducing indirect democratic representation of cooperative members on the policies of cooperatives. For cooperative banks in a large federal state in Germany, we demonstrate that having a representative assembly in which members are only indirectly represented leads to a reduction in dividends. From a theoretical perspective, however, this may contribute to the cooperative bank’s long-term economic success and the interests of younger and future members.

Authors with CRIS profile

Richard Reichel
Matthias Wrede Lehrstuhl für Volkswirtschaftslehre, insbesondere Sozialpolitik

Involved external institutions

FOM Hochschule für Oekonomie & Management gemeinnützige Gesellschaft mbH DE Germany (DE)

How to cite

APA:

Reichel, R., & Wrede, M. (2026). Indirect member representation in cooperatives and dividend policy. Economia Politica. https://doi.org/10.1007/s40888-026-00414-4

MLA:

Reichel, Richard, and Matthias Wrede. "Indirect member representation in cooperatives and dividend policy." Economia Politica (2026).

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