The legal structure of the modern corporate form has four fundamental elements--separate identity, limited liability for shareholders, centralized management, and transferability of shares. These, together with the dynamics of governance relationship between the owners, the supervisory board,...

Hospital markets are often characterised by price regulation and the existence of different ownership types. Using a Hotelling framework, this paper analyses the effect of heterogeneous objectives of the hospitals on quality differentiation, profits, and overall welfare in a price regulated...