"Education and media services have much in common. Both provide services that embody local cultures, in which there is extensive public sector participation and significant domestic regulation. Both are dramatically affected by the information and communications technology revolution. The...

This paper studies the effect of ownership structure on workers' incentives for investing in firm-specific human capital. Particularly, we analyse such incentivers and monitoring under employee ownership and capitalist ownership. In our model, the employee-owned firm is a firm bought by its...