Cooperative Law and the Cooperative Principles

How should the Finnish Cooperatives Act be Developed?

Authors

• Ville Pönkä Helsingin yliopisto

DOI: https://doi.org/10.57048/aasf.140846

Keywords:

cooperative, cooperative law, sustainability

Abstract

The purpose of this article is to assess how the Finnish Cooperatives Act should be devel-oped so that it would better reflect the Cooperative Principles laid down by the Internation-al Cooperative Alliance. There is much evidence showing that cooperatives are important (socio)economic actors, hence, cooperative identity needs to be preserved through legisla-tion. It is, for example, argued that the principles of one member one vote and concern for the community should be enhanced through legislation. Furthermore, equity-based financ-ing instruments that promote investor interests should not be developed further. Instead, attention should be paid to such financing methods that are better aligned with the Coop-erative Principles.