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Abstract
Comparison between the factors affecting cooperative and investor-owned
firms (IOFs) profitability has not been examined in a particular market by
empirical studies. This paper examines the determinants of profitability
of cooperative and IOFs in the Greek dairy industry in the period 1990-
94. The results show that IOFs, in contrast to the cooperatives, apply
effectively competitive strategies (advertising and diversification) to increase
their profitability.