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For Every Law, a Loophole: Flexibility in the Menu of Spanish Business Forms, 1886-1936 AgEcon
Guinnane, Timothy W.; Marrinez Rodriguez, Susana.
The Spanish business code allowed firms great flexibility in their organizational form in the late nineteenth and early twentieth century. Until 1920, firms had the same basic choices as in France and some other European countries, namely, the corporation, the ordinary partnership, or the limited partnership. But Spanish law was unusually flexible, allowing firms to adapt the corporation especially to the needs of its owners. Starting in 1920 Spanish firms could also organize as a Sociedad de Responsabilidad Limitada (SRL), a form similar to the German GmbH or the British Private Limited Company (PLC). But some firms had already adopted the form prior to 1920. The Spanish coded lacked the principle of “numerus clauses” that is central to many areas of law....
Tipo: Working Paper Palavras-chave: Spanish economic history; Legal form of enterprise; Law and finance; Financial Economics; Industrial Organization; Institutional and Behavioral Economics; K20; N43; N44.
Ano: 2012 URL: http://purl.umn.edu/123319
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Did the Cooperative Start Life as a Joint-Stock Company? Business Law and Cooperatives in Spain, 1869-1931 AgEcon
Guinnane, Timothy W.; Martinez-Rodriguez, Susana.
Studies of Spanish cooperatives date their spread from the Law on Agrarian Syndicates of 1906. But the first legislative appearance of cooperatives is an 1869 measure that permitted general incorporation for lending companies. The 1931 general law on cooperatives, which was the first act permitting the formation of cooperatives in any activity, reflects the gradual disappearance of the cooperative’s “business” characteristics. In this paper we trace the Spanish cooperative’s legal roots in business law and its connections to broader questions of the freedom of association, the formation of joint-stock enterprises, and the liability of investors in business and cooperative entities. Our account underscores the similarities of the organizational problems...
Tipo: Working or Discussion Paper Palavras-chave: Cooperative; General incorporation; Business enterprise; Freedom of association; Freedom of contract; Community/Rural/Urban Development; Institutional and Behavioral Economics; N43- N23; K20.
Ano: 2010 URL: http://purl.umn.edu/90880
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