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Cooperatives vs. Outside Ownership
Hart, Oliver D.; Moore, John - National Bureau of Economic Research (NBER) - 1998
control (and possibly residual income rights) without reference to the issue to be decided. We focus attention on two polar … member, one vote basis. In the latter, all control rights and rights to residual income are allocated to an outsider. Ex post …
Persistent link: https://www.econbiz.de/10005774915
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Default and Renegotiation: A Dynamic Model of Debt
Hart, Oliver D.; Moore, John - National Bureau of Economic Research (NBER) - 1997
We analyze the role of debt in persuading an entrepreneur to pay out cash flows, rather than to divert them. In the first part of the paper we study the optimal debt contract -- specifically, the trade-off between the size of the loan and the repayment -- under the assumption that some debt...
Persistent link: https://www.econbiz.de/10005580689
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Takeover bids vs. Proxy Fights in Contests for Corporate Control
Bebchuk, Lucian; Hart, Oliver D. - National Bureau of Economic Research (NBER) - 2001
This paper evaluates the primary mechanisms for changing management or obtaining control in publicly traded …
Persistent link: https://www.econbiz.de/10005720139