Fedele, Alessandro; Mantovani, Andrea - In: Journal of Institutional and Theoretical Economics (JITE) 164 (2008) 2, pp. 230-253
We consider a start-up firm run by an owner-manager who applies for a bank loan to implement a project based on two complementary activities. Complementarity can be improved by coordinating the activities, either by the manager or by an internal employee to whom the task is delegated. In the...