Synergies among ownership forms and cooperating territories: The case of wine

This paper investigates the effectiveness of cooperative ownership and its enhancement through territorial cooperation by analysing Italian wine firms (2012–2022) using a novel dataset and matching strategies. Results reveal that, when economic performances are properly measured, cooperative ownership generates more eco- nomic benefits and can thus become a driver of local development. The effect of cooperating territories goes above and beyond institutional quality, capturing a different measure of firm-level territorial cooperation, not strictly and only mediated by better public institutions. The paper supports the relevance of cooperative ownership for local economies and advocates policies fostering social networks and community-led initiatives.