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Principal Costs : A New Theory for Corporate Law and Governance
Goshen, Zohar - 2017
principal-cost theory, which posits that each firm's optimal governance structure minimizes the sum of principal costs, produced … costs). Because the expected costs of competence and conflict are firm-specific, the optimal division of control is firm … governance features and mandating others, lawmakers should permit each firm to tailor its governance structure based on its firm …
Persistent link: https://www.econbiz.de/10012972091
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The Life Cycle of Government Ownership
Che, Jiahua - 2004
-optimal timing which results in firm performances to deteriorate in the short run, and to improve only in the long run. Partial …
Persistent link: https://www.econbiz.de/10014029609
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Decision initiation, decision implementation, and the allocation of decision rights
Sloof, Randolph; Siemens, Ferdinand von - 2015
Organizations must not only take the right decisions, they must also ensure that these decisions are effectively implemented. Fama and Jensen (1983) argue that the same members of many organization are often responsible for both decision initiation and implementation. If these have social...
Persistent link: https://www.econbiz.de/10011333082
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Decision initiation, decision implementation, and the allocation of decision rights
Sloof, Randolph; Siemens, Ferdinand von - 2015
Organizations must not only take the right decisions, they must also ensure that these decisions are effectively implemented. Fama & Jensen (1983) argue that the same members of many organization are often responsible for both decision initiation and implementation. If these have social...
Persistent link: https://www.econbiz.de/10011342342
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Civic capital and the size distribution of plants : short-run dynamics and long-run equilibrium
Bürker, Matthias; Minerva, G. Alfredo - 2012
We characterize how the size distribution of plants, within narrowly defined industries, changed in Italy over a ten-year time span, and relate this to the stock of civic capital at the provincial level. Data on plant size come from the 1991 and 2001 Italian censuses. Civic capital turns out to...
Persistent link: https://www.econbiz.de/10009660467
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When is FDI a capital flow?
Marin, Dalia; Schnitzer, Monika - 2006
In this paper we analyze the conditions under which a foreign direct investment (FDI) involves a net capital flow across countries. Frequently, foreign direct investment is financed in the host country without an international capital movement. We develop a model in which the optimal choice of...
Persistent link: https://www.econbiz.de/10010373495
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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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Decision Initiation, Decision Implementation, and the Allocation of Decision Rights
Sloof, Randolph - 2015
Organizations must not only take the right decisions, they must also ensure that these decisions are effectively implemented. Fama and Jensen (1983) argue that the same members of many organization are often responsible for both decision initiation and implementation. If these have social...
Persistent link: https://www.econbiz.de/10013015941
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Network Prominence, Bargaining Power, and the Allocation of Value Capture Rights in Alliance Contracts
Ozmel, Umit - 2016
prominence can enhance the availability of alternative partners for a firm, and thereby elevates the firm's bargaining power and … enables the firm to receive i) more value capturing rights vis-à-vis its partner (i.e., more net value capturing rights) and … firm) increases, it is able to attain i) more net value capturing rights to outcomes within the area of collaboration and …
Persistent link: https://www.econbiz.de/10013007267
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Who Should Own the League? Transaction Costs and the Structure of NBA Ownership
Nonnenmacher, Tomas; Gerard, David - 2021
Like many professional sports leagues worldwide, the National Basketball Association is organized as a cooperative of team owners. We argue that league ownership structures must balance two types of transaction costs: the costs of contracting with stakeholders of the league, importantly players,...
Persistent link: https://www.econbiz.de/10013223227