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In the nineties, average firm size decreased, organisations decentralized, and workers preferences shifted from large to small firms. Our model identifies the economic forces behind this trend. Small firms with little capital at risk are subject to risk-shifting. They realize more of their...
Persistent link: https://www.econbiz.de/10011539048
In the nineties, average firm size decreased, organisations decentralized, and workers preferences shifted from large to small firms. Our model identifies the economic forces behind this trend. Small firms with little capital at risk are subject to risk-shifting. They realize more of their...
Persistent link: https://www.econbiz.de/10001708708
Persistent link: https://www.econbiz.de/10001718200
Persistent link: https://www.econbiz.de/10003717292
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