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socially suboptimal level of training may occur. We show how partnership organisations can overcome this problem by tying human …
Persistent link: https://www.econbiz.de/10005212079
socially suboptimal level of training may occur. We show how partnership organisations can overcome this problem by tying human …
Persistent link: https://www.econbiz.de/10010661387
hence we provide a technological theory of the partnership`s going-public decision. We support our theory with a new dataset … of investment bank partnership statistics. …
Persistent link: https://www.econbiz.de/10010661417
the partnership’s going-public decision. We support our theory with a new dataset of investment bank partnership …
Persistent link: https://www.econbiz.de/10005656352
The Law and Finance account of the ubiquity of controlling shareholders in developing markets is based on conditions in the capital market: poor shareholder protection law prevents controlling shareholders from parting with control out of fear of exploitation by a new controlling shareholder who...
Persistent link: https://www.econbiz.de/10012721461
due to the externality created by the new project. We examine the effect of uncertainty about the success of the new … project on contract slope and convexity. The convexity in the contract protects the agent from uncertainty about the success … the success of the new project cause increases in the contract slope. This positive relation between contract slope and …
Persistent link: https://www.econbiz.de/10012722117
We examine a sample of firms that adopt quot;target ownership plans,quot; under which managers are required to own a minimum amount of stock. We find that prior to plan adoption, such firms exhibit low managerial equity ownership and low stock price performance. Managerial equity ownership...
Persistent link: https://www.econbiz.de/10012722219
This paper considers how ideas from evolutionary theory and the neo-Schumpeterian tradition can be fruitfully combined with ideas from Herbert Simon and the Carnegie tradition on decomposability and cognitive limits. Rather than focusing on any one individual issue, this paper outlines a...
Persistent link: https://www.econbiz.de/10012727271
Despite the continued importance of outsourcing agreements as one form of inter-organisational relationship, there is growing evidence of failure amongst these arrangements. In turn, this has initiated a renewed concern about the mechanisms that govern and control inter-organisational networks...
Persistent link: https://www.econbiz.de/10012733324
The financial systems in continental Europe are subject to profound changes in the institutions of market exchange. Banks traditionally holding close relationships with firms are substituted by non-bank institutional investors. The present paper examines whether this implies a substitution of...
Persistent link: https://www.econbiz.de/10012736025