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According to the property rights approach,decision rights have to be allocated accordingto the distribution of intangible knowledge assetsbetween the franchisor and franchisee andownership rights have to be assigned according to theresidual rights of control (residual decisionrights). Since...
Persistent link: https://www.econbiz.de/10010867161
We argue that the choice of corporate governance by a firm affects and is affected by the choice of governance by other firms. Firms with weaker governance give higher payoffs to their management to incentivize them. This forces firms with good governance to also pay their management more than...
Persistent link: https://www.econbiz.de/10005136630
This paper analyzes a model with many homogeneous agents, whose effort can be allocated to two tasks. One task produces a public good that is an important input for the production of the final output. The other task only affects the agent's own output. We show that, when the public input and the...
Persistent link: https://www.econbiz.de/10005102696
Este artículo explora a través de un mismo modelo básico las características fundamentales que determinan si es socialmente preferible concesionar versus privatizar un servicio público con características monopólicas. Los principales resultados de este trabajo son que la opción de...
Persistent link: https://www.econbiz.de/10005328909
This paper reviews the Latin American experience with highway privatization during the last decade. Based on evidence from Argentina, Colombia and Chile, we find that private financing of new highways freed up fewer public resources than expected because public funds were often diverted to bail...
Persistent link: https://www.econbiz.de/10005587174
This paper reviews the Latin American experience with highway privatization during the last decade. Based on evidence from Argentina, Colombia and Chile, we find that private financing of new highways freed up fewer public resources than expected because public funds were often diverted to bail...
Persistent link: https://www.econbiz.de/10009021337
This paper reviews the Latin American experience with highway privatization during the last decade. Based on evidence from Argentina, Colombia and Chile, we find that private financing of new highways freed up fewer public resources than expected because public funds were often diverted to bail...
Persistent link: https://www.econbiz.de/10005558490
The regulation of commercial television and broadcasting in the United Kingdom has evolved from the principles of … public service broadcasting. Much of this regulation is paternalistic and does not place great emphasis on the most effective … regulation in the light of the recent recommendations of the Peacock Committee. In particular, the objectives of broadcasting are …
Persistent link: https://www.econbiz.de/10005666530
There has been much controversy over the merits of government regulation to protect growers and franchisees from hold …-up at the hands of integrators and franchisors. Typically, economic argument have discouraged regulation, since direct …
Persistent link: https://www.econbiz.de/10005783813
This paper analyzes the impact of blockownership dispersion on firm value. Blockholdings by multiple blockholders is a widespread phenomenon in the U.S. market. It is not clear, however, whether dispersion among blockholder is preferable to having a more concentrated ownership structure. To test...
Persistent link: https://www.econbiz.de/10010986382