Frontmatter -- Contents -- Preface -- Introduction -- PART I A Theory of Enterprise Ownership -- 1 An Analytic Framework -- 2 The Costs of Contracting -- 3 The Costs of Ownership -- PART II Producer-Owned Enterprise -- 4 Investor-Owned Firms -- 5 The Benefits and Costs of Employee Ownership -- 6...

Business corporations in the nineteenth century often imposed limits on the voting rights of large shareholders. Economic historians have generally interpreted these voting restrictions as a contractual mechanism designed to protect small shareholders in a legal environment that afforded...

A large legal and economic literature describes how state-owned enterprises (SOEs) suffer from a variety of agency and political problems. Less theory and evidence, however, have been generated about the reasons why state-owned enterprises listed in stock markets manage to attract investors to...