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Are Ownership Rent and Pure Profit Separate Returns to the Entrepreneur?
Salerno, Joseph T. - 2019
this paper, I argue that Topan's critique rests on fundamental misconceptions about the nature of entrepreneurship in …
Persistent link: https://www.econbiz.de/10012891965
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Entrepreneurial optimism and creative destruction
Persson, Lars; Seiler, Thomas - 2018
We provide empirical evidence that uncertainty (rather than risk) and optimism are distinctive characteristics of high … entrepreneurial entry predation model with uncertainty. We show that entrepreneurial optimism can mitigate problems associated with … strong incumbents' attempts to protect markets using predatory threats. Entrepreneurial optimism can also create a strategic …
Persistent link: https://www.econbiz.de/10011852629
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Venture Capitalists, Asymmetric Information, and Ownership in the Innovation Process
Fabrizi, Simona; Lippert, Steffen; Norbäck, Peh; … - 2008
In this paper we construct a model in which entrepreneurial innovations are sold into oligopolistic industries and where adverse selection problems between entrepreneurs, venture capitalists and incumbents are present. We show that as exacerbated development by better-informed venture-backed rms...
Persistent link: https://www.econbiz.de/10010320264
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Horizontal mergers and uncertainty
Le Pape, Nicolas; Zhao, Kai - 2014
This paper analyses the profitability of horizontal mergers in a Stackelberg model and their impact on welfare when there is uncertainty about the marginal costs of the newly merged firms. The authors consider that the merging firms decide their production strategy knowing the actual value of...
Persistent link: https://www.econbiz.de/10010362519
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Yes, managers should be paid like bureaucrats
Frey, Bruno S.; Osterloh, Margit - 2005
Corporate scandals, reflected in excessive management compensation and fraudulent accounts, cause considerable damage. Agency theory's insistence on linking the compensation of managers and directors as closely as possible to firm performance is a major reason for these scandals. They cannot be...
Persistent link: https://www.econbiz.de/10010261124
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Horizontal mergers and uncertainty
Le Pape, Nicolas; Zhao, Kai - 2013
Some path-breaking work on mergers takes efficiency gains for granted, or assumes that firms have perfect knowledge when taking merger decisions. In practice, firms and competition authorities cannot know exact future efficiency gains, prior to merger consummation. This paper analyzes horizontal...
Persistent link: https://www.econbiz.de/10010221710
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Does Contract Complexity Limit Opportunities? Vertical Organization and Flexibility
Pennings, Enrico - 2010
The vertical organization of production entails a range of make-or-buy decisions of intermediate goods that are influenced by the difficulty of writing contracts with a potential supplier. When contracting causes high transaction costs, a firm can decide to vertically integrate the production of...
Persistent link: https://www.econbiz.de/10013137988
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Union Myopia and the Taxation of Capital
Lee, Dwight - 2011
After an extensive discussion of the nature of the interactions among unions, corporations, and government, we find that government in granting privileges to workers organized into unions implicitly taxes capital formation. The result has been to lessen the attention business decisions pay to...
Persistent link: https://www.econbiz.de/10013121838
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The Economics of Corporate Social Responsibility
Sacconi, Lorenzo - 2012
This paper critically considers ‘additional' and ‘instrumental' explanations that economists have recently suggested in order to reduce the understanding of CSR within the limits of standard economic theorizing, and contrasts them with a ‘constitutive' definition as an extended model of...
Persistent link: https://www.econbiz.de/10013104040
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Analysis of the Economic Differences between Capitalist and Labour-Owned Enterprises
Fernández-Guadaño, Josefina - 2013
Purpose – In recent years, an increasing interest in the participative practices of the workpeople in their companies has taken place in the European Union. Taking advantage of this situation, the purpose of this paper is to show additional evidence of the benefits from companies with majority...
Persistent link: https://www.econbiz.de/10013073149