the subsequent 100 years, and comparing the pattern of ownership and control with a sample incorporated around 1960. We …

principals who control. The reason is that most agents lower their performance as a response to the signal of distrust created by …

restructuring, investors focus control on poorly performing companies. These results stand in contrast to the US, where there is …

implement a control strategy, which consists of low effort discretion and little or no rent-sharing, or they implement a trust … control strategy prevails, while the possibility of screening renders the trust strategy profitable. The introduction of …

pyramid structures can be used for control purposes. The static relation of ownership to control in Germany is therefore … is an active market in share blocks giving rise to changes in control, but the gains are limited and accrue solely to the … holders of large blocks, not to minority investors. We provide evidence of low overall benefits from control changes and the …

The recent media and political attention on service outsourcing from developed to developing countries gives the … impression that outsourcing is exploding. As a result, workers in industrial countries are anxious about job losses. This Paper … aims to establish what are the hypes and what are the facts. The results show that although service outsourcing has been …

In this paper we argue that an important source of the recent increase in outsourcing is the computer and information … technological change increases outsourcing because it allows firms to use services based on leading edge technologies without … outsourcing costs of IT-based services generating a positive correlation between the IT level of the user and its outsourcing …

. Outsourcing decisions then balance flexibility gains against hold-up costs of opportunistic behaviour by outside contractors. In … equilibrium, the degree of outsourcing is shown to depend on the degree of product market competition, contractor's bargaining … power, and the volatility of demand shocks. Our main result is that an increase in the degree of outsourcing amplifies the …