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Vertical undbundling, the coordination of investment, and network pricing
Brunekreeft, Gert; Friedrichsen, Nele - 2010
. We adopt a three-stage profit-optimized investment model, with a (regulated) monopoly network and two asymmetrical …This paper provides a formal analysis on the investment coordination problem in a vertically separated electricity … supply industry, although the analysis may apply also to other network industries. In an electric- ity system, the investment …
Persistent link: https://www.econbiz.de/10010421957
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Математическая модель экономической системы с распределенными правами собственности
Kolesnik, Georgiy - Volkswirtschaftliche Fakultät, … - 2010
A model of the economic system with the property rights distributed among several agents is considered. The effect of property rights allocation on the economic efficiency of the management strategies is studied.
Persistent link: https://www.econbiz.de/10011260579
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Entrepreneurial human Capital, complementary assets, and takeover probability
Braun, Thorsten V.; Krispin, Sebastian; Lehmann, Erik E. - 2009
Gaining access to technologies, competencies, and knowledge is observed as one of the major motives for corporate mergers and acquisitions. In this paper we show that a knowledge-based firm's probability of being a takeover target is influenced by whether relevant specific human capital aimed...
Persistent link: https://www.econbiz.de/10010271448
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Entrepreneurial human capital, complementary assets, and takeover probability
Braun, Thorsten V.; Krispin, Sebastian; Lehmann, Erik E. - 2010
Although acquisitions of high tech entrepreneurial firms are of great popularity, the limited empirical evidence shows that these acquisitions often lead to dismal results in that a large number of acquired inventors leave the company after the acquisition and those that remain exhibit poor...
Persistent link: https://www.econbiz.de/10010308798
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Entrepreneurial human capital, complementary assets, and takeover probability
Braun, Thorsten V.; Krispin, Sebastian; Lehmann, Erik E. - Fakultät für Wirtschaftswissenschaften, Universität … - 2010
Although acquisitions of high tech entrepreneurial firms are of great popularity, the limited empirical evidence shows that these acquisitions often lead to dismal results in that a large number of acquired inventors leave the company after the acquisition and those that remain exhibit poor...
Persistent link: https://www.econbiz.de/10010957163
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The Proprietary Foundations of Corporate Law
Armour, John; Whincop, Michael J - ESRC Centre for Business Research - 2005
Recent work in both the theory of the firm and of corporate law has called into question the appropriateness of analysing corporate law as ‘merely’ a set of standard form contracts. This article develops these ideas by focusing on property law’s role in underpinning corporate enterprise....
Persistent link: https://www.econbiz.de/10005813025
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Entrepreneurial Human Capital, Complementary Assets, and Takeover Probability
Braun, Thorsten V.; Krispin, Sebastian; Lehmann, Erik E. - Institut für Volkswirschaftlehre, Fakultät für … - 2009
Gaining access to technologies, competencies, and knowledge is observed as one of the major motives for corporate mergers and acquisitions. In this paper we show that a knowledge-based firm’s probability of being a takeover target is influenced by whether relevant specific human capital aimed...
Persistent link: https://www.econbiz.de/10008474085
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Inside vs Outside Ownership: A Political Theory of the Firm
Müller, Holger M.; Wärneryd, Karl - Economics Institute for Research (SIR), … - 1999
If contracting within the firm is incomplete, managers will expend resources on trying to appropriate a share of the surplus that is generated. We show that outside ownership may alleviate the deadweight losses associated with such costly distributional conflict, even if all it does is add...
Persistent link: https://www.econbiz.de/10005190835
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Empirical evidence of the value of monitoring in joint ownership
Mantecon, Tomas; Liu, Ian; Gao, Fei - In: Journal of Banking & Finance 36 (2012) 4, pp. 1045-1056
Joint ownership of assets by two partners can have an adverse effect on the incentives to invest and can result in unstable and inefficient organizational structures. Control sharing, however, plays an important role in economic, political, and social institutions. There is scarce empirical...
Persistent link: https://www.econbiz.de/10010574882
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THE THEORIES OF INCOMPLETE CONTRACTS IN ANALYZING THE COMPANY
Anca, Pacala - In: Annals of Faculty of Economics 1 (2012) 1, pp. 554-561
contractual protection measures can lead to inefficient levels of investment. Even the name - incomplete contracts theory … investment ex ante, but also many other unforeseen items that may appear ex post, and that would be desirable to be introduced in …
Persistent link: https://www.econbiz.de/10010817128