Showing 1 - 10 of 12
Persistent link: https://www.econbiz.de/10005413147
By a well-known argument, securities holders do not directly benefit from risk-reducing corporate diversification when they can replicate this difersification on their own. Some have argued that corporate diversification may be of value, or can otherwise be explained by, the agency relationship...
Persistent link: https://www.econbiz.de/10005134525
We analyze the central economic issues raised by U.S. v Microsoft. Network effects and economies of scale in applications programs created a barrier to entry for new operating system competitors, which the combination of Netscape Navigator and the Java programming language potentially could have...
Persistent link: https://www.econbiz.de/10005412983
We consider innovation incentives in markets where final goods comprise two strictly complementary components, one of which is monopolized. We focus on the case in which the complementary component is competitively supplied, and in which innovation is important. We explore ways in which the...
Persistent link: https://www.econbiz.de/10005076907
We consider innovation incentives in markets where final goods comprise two strictly complementary components, one of which is monopolized. We focus on the case in which the complementary component is competitively supplied, and in which innovation is important. We explore ways in which the...
Persistent link: https://www.econbiz.de/10005556060
We examine the effects of market structure and the internal organization of firms on equilibrium R&D projects. We compare a monopolist's choice of R&D portfolio to that of a welfare maximizer. We next show that Sah and Stiglitz's finding that the market portfolio of R&D is independent of the...
Persistent link: https://www.econbiz.de/10005134550
This paper shows how fixed costs can play an important role in determining the structure of organizations. Applications considered include layoffs, downsizing, heterogeneity among firms, and the structure of hierarchies. Agency problems as a source of fixed costs are also considered.
Persistent link: https://www.econbiz.de/10005412987
Previous empirical analyses of the relationship between executive compensation and firm performance are often interpreted as suggesting that this relationship is weak. Although an absolute term like "weak" is ambiguous in this context, relative terms, such as "stronger," are meaningful. We argue...
Persistent link: https://www.econbiz.de/10005413065
This paper explores leadership within organizations. Leadership is distinct from authority because following a leader is a voluntary rather than coerced activity of the followers. This paper considers how a leader induces rational followers to follow her in situations when the leader has...
Persistent link: https://www.econbiz.de/10005413283
Persistent link: https://www.econbiz.de/10005126084