that these reoptimized ownership choices raise firm output by 40% and productivity by 7.5% on average. An extended property …Seminal theories of the firm posit that firm ownership is allocated to minimize contractual inefficiencies. Yet, it … remains unclear how much the optimal ownership choice affects firm performance in practice. This paper provides a first …

This paper analyzes private precautions against crime when the value of the property to be protected is private …, suboptimal investment can occur when observable precautions communicate information about property value to potential offenders …

The question of whether and how partial common-ownership links between strategically interacting firms affect firm … asset-management industry has led to more pronounced common ownership concentration (CoOCo). Moreover, recent empirical …

for acquiring for the purpose of putting a patent to sleep decreases when the intellectual property law is stricter …

Concentrated ownership of large listed companies is widespread throughout the world, and Germany is typical in this … respect. This paper proposes a method of distinguishing empirically between the beneficial and harmful effects of ownership … on minority shareholders of increased ownership (greater monitoring of management, and reduced incentives to exploit …

may be allocated less efficiently. The reverse ownership structure is also likely to increase the profits of the firms … involved in the ownership relationship but without these negative efficiency effects. …

We analyze the optimal ownership, delegation and compensation structures when a manager is hired to run a firm and to … choice. Optimality would require a large ownership stake for monitoring but a small stake for not interfering with managerial …. The large shareholder retains full ownership of the firm but monitoring, and the resulting firing policy, are distorted …

This paper presents a theory model that simultaneously accounts for the financing decisions and ownership structure in … externality whereby minority ownership dampens the incentive to avoid taxes through the use of internal debt. -- multinationals … ; tax-efficient financing structures ; minority ownership …

ownership and control to be an advantage of the Anglo-American economies. They have also attributed the failure of other … ; ownership concentration ; Bayesian model estimation ; Bayesian model comparison …

This paper provides empirical evidence on two potential costs of shared ownership of German affiliates abroad. First … are less flexible to exploit tax efficient strategies. -- foreign direct investment ; capital structure ; ownership …