The main objective of this research is to contribute to the economic literature on cooperative entrepreneurship as a model for sustainable development, taking into account the special alignment of the cooperative principles (ICA) with the UN Sustainable Development Goals (SDGs). It offers new empirical evidence from Spain, based on Stakeholder Theory, about the differences between cooperatives (Coops) and Capitalist Firms (CFs) in relation to the distribution of economic value between the different stakeholders. For this purpose, panel data was analysed using the Correlated Random Effects approach. The results reveal that cooperative firms generate value for some of the stakeholders analysed, specifically for their partners and creditors, but no significant differences have been found with CFs in terms of workers and the state. In both cases, it can be inferred that the period analysed has influenced the results, since it has been found that, first, cooperatives adjust wages downward rather than dismiss workers during a recession, which is in line with previous research, and second, that their tax contribution to the state is lower because they are subject to a more favourable tax system in Spain.

This study focuses on the role of employee-owned firms (EOFs) in value creation from a stakeholder perspective. EOFs have been defined as Social Economy enterprises in Spain following guiding principles that in our opinion should empower stakeholder governance. Therefore, the impact of employee share ownership on value creation for shareholders and stakeholders has been measured on the basis of a sample of 1006 enterprises. The results reveal that EOFs have a positive and significant influence on the distribution of value in favour of the employees but not the other stakeholders. This finding, which allows us to partially accept one of the proposed hypotheses, is consistent with previous evidence that EOFs set their objectives to maximize the value obtained by the participating employees through their financial participation in the business, and not, therefore, to maximize profits.

This paper intends to recognize carbon and ecological footprints as tools to measure the sustainability of the Institute of Engineering (IoE) of the Autonomous University of Baja California (UABC), in Mexicali, BC, Mexico in 2013. The ecological footprint (EF) is defined herein as the ecologically productive territory that is needed for the absorption of residuals and the generation of resources deemed necessary for the subsistence of a defined population. The carbon and ecological footprints are based on the fact that the EF requires the value of the carbon footprint prior to carrying out the conversion to global hectares (hag). The methodology that was utilized herein is based on the quantification of tons of CO2 derived from the following factors: water, energy and paper consumption, commuting by the members of the IoE, and lastly, construction of the building. The results are provided in tons of CO 2 and hectares of absorption land deemed necessary for emissions of CO 2 onto the atmosphere, which are the result of activities carried out by the IoE. The ecological footprint is 1.00 hag/person of global hectares. Such an outcome is useful for purposes of gaining knowledge on the level of sustainability of the IoE and to compare it with that of other academic n i stitutions.

Employee-owned firms (EOFs) form part of the so-called social economy, and they are seen as an alternative business model that aims to establish itself as a third way, different to conventional capitalist firms and public enterprises. These firms meet the Spanish legal requirements (Law 44/2015) for employee ownership designation. This paper assesses whether the capital ownership structure is a key factor determining operating performance, productivity and solvency, or in other words, the impact the firm's capital ownership structure may have on its economic performance, labour factor and capital factor. Based on a sample of small employee-owned firms and non-employee owned firms, the study develops an empirical methodology using a panel data analysis. The study shows the characteristics of Spain's EOFs as an alternative legal form of employee share ownership, which is included in the Social Economy, but different from cooperative societies.