Recasting The Co-Operative As A Stakeholder Theory Solution: Does New Zealand Law Preserve The Co-Operative Concept?

Abstract

Despite their prevalence in the New Zealand economy and their dominance in key, mainly agricultural, industries, co-operative companies remain an under discussed area in New Zealand’s legal literature.Globally, however, discussion on the return of the co-operative form and its importance in a diverse organisational landscape is rising. Similarly, stakeholder theory is rising in relevance as an argument against the entrenched shareholder primacy view in company law. Whilst companies have been an integral part of the growth and prosperity over recent history, companies are now being seen as the driver behind many of our problems. Or at the very least, the status quo structure of companies and company law is not adequately using the substantial power of the company to address the problems.