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We argue in favour of the shareholder model of the firm for three main reasons. First, serving multiple stakeholders leads to ill-defined property rights. What sounds like a fair compromise between stakeholders can easily evolve in a permanent struggle between the stakeholders about the ultimate...
Persistent link: https://www.econbiz.de/10003747647
We argue in favour of the shareholder model of the firm for three main reasons. First, serving multiple stakeholders leads to ill-defined property rights. What sounds like a fair compromise between stakeholders can easily evolve in a permanent struggle between the stakeholders about the ultimate...
Persistent link: https://www.econbiz.de/10010325305
-sectional distribution of individual wage changes observed in the data. We look at five countries (the US, Germany, Portugal, Belgium and …
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their outside option. Empirical results for Denmark, Portugal and the United States show that Denmark is closest to the … first-best outcome, while Portugal and the United States deviate in different ways. Coordination in wage bargaining and …
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