@article{Guinnane:206854,
      recid = {206854},
      author = {Guinnane, Timothy and Martinez Rodriguez, Susana},
      title = {Choice of Enterprise Form: Spain, 1886-1936},
      address = {2015-07},
      number = {1858-2016-152860},
      series = {Economic Growth Center Discussion paper},
      pages = {57},
      year = {2015},
      abstract = {Economists have long neglected study of an important  contractual decision, a firm’s choice of legal form.  Enterprise form shapes the relations among a firm’s owners  as well as many features of a firm’s interactions with the  rest of the economy. Using unusual firm-level data on Spain  1886-1936, we estimate nested logit models of the  determinants of enterprise form choice. In 1919, Spain  introduced a new enterprise form that compromised between  partnerships and corporations, and displaced larger  partnerships and smaller corporations. This Sociedad de  Responsabilidad Limitada was especially important for small  and median-sized enterprises whose owners were not  related.},
      url = {http://ageconsearch.umn.edu/record/206854},
      doi = {https://doi.org/10.22004/ag.econ.206854},
}