Asset Ownership and Investment Incentives Revisited.

Previous work on the property rights theory of the firm suggests that in the presence of outside options, asset ownership may demotivate managers. This paper shows that this conclusion relies on the assumption that a manager's outside option only depends on her own investment.

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Year of publication:	2000
Authors:	de Mesa, D. ; Lockwood, B.
Institutions:	Department of Economics, University of Warwick
Subject:	PROPERTY RIGHTS \| MANAGEMENT \| INVESTMENTS

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Series:	The Warwick Economics Research Paper Series (TWERPS).
Type of publication:	Book / Working Paper
Language:	English
Notes:	18 pages
Classification:	D23 - Organizational Behavior; Transaction Costs; Property Rights ; L22 - Firm Organization and Market Structure: Markets vs. Hierarchies; Vertical Integration
Source:	RePEc - Research Papers in Economics

Persistent link: https://www.econbiz.de/10005583050