On the role of member value in cooperatives
In comparison to traditional firms that by definition solely exist to maximize profit, cooperatives exist for the purpose of maximizing the value for its members, while at the time ensuring sufficient profit generation. The term member value has been discussed in the scientific literature, but is still not clearly defined. This research project identifies the monetary and non-monetary dimensions of a potential member value construct by scainning the customer satisfaction literature and cooperative literature in combination with expert interviews with experts from German cooperatives. A structural path model is developed and the model is tested by sending out a survey to members of German cooperatives.