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Partial public ownership and managerial incentives

Jovanovicy, Dragan - 2012

We analyze the impact of partial public ownership (PPO) on managerial incentives. A novelty of the paper is that it … explicitly considers competition in the product market. We find that PPO negatively affects managerial incentives when all firms … incentives crucially depend on the degree of competitive pressure. Thereby, PPO induces either partially public firms or their …

Persistent link: https://www.econbiz.de/10009665005

An Experimental Test of Career Concerns

Koch, Alexander K.; Morgenstern, Albrecht; Raab, Philippe - 2004

Holmström?s (1982/99) career concerns model has become an important workhorse for the analysis of agency issues in many fields. The underlying signal jamming argument requires players to use information in a Bayesian way – which may or may not reasonably approximate real-life decision makers?...

Persistent link: https://www.econbiz.de/10010262147

An experimental test of career concerns

Morgenstern, Albrecht; Koch, Alexander Karl; Raab, Philippe - 2004

Holmström’s (1982/99) career concerns model has become an important workhorse for the analysis of agency issues in many fields. The underlying signal jamming argument requires players to use information in a Bayesian way – which may or may not reasonably approximate real-life decision...

Persistent link: https://www.econbiz.de/10010263116