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rigid, non discretionary contracts. The main focus of the paper lies in the analysis of the costs of delegation, primarily … agency costs of delegation and the less profitable a flexible contract relative to a rigid one. When the parties to not have …
Persistent link: https://www.econbiz.de/10008622065
agreement may or may not be reached. Finally, when an agreement is reached, it may exhibit strategic delegation when the median … voters are the Condorcet winners in both countries : this delegation is the outcome of the struggle by electorates to …
Persistent link: https://www.econbiz.de/10008520966
The aim of this paper is to identify the refocusing and diversification movements using the Markides (1993, 1995) and …
Persistent link: https://www.econbiz.de/10010742027
to interpert the development strategies of firms in terms of diversification and refocusing. …
Persistent link: https://www.econbiz.de/10010703386
of a low inflation context. These analyses allow us to detect changes in the diversification opportunities over time …
Persistent link: https://www.econbiz.de/10011274578
We survey the phenomenon of the growth of firms drawing on literature from economics, management and sociology. We begin with a review of empirical "stylised facts" before discussing theoretical contributions. Firm growth is characterized by a predominant stochastic element, making it difficult...
Persistent link: https://www.econbiz.de/10005670854