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This paper studies the Grossman-Hart-Moore (GHM) "property rights" approach to the theory of the firm under alternating-owners bargaining. When managers can pursue other occupations whilst negotiating over the division of the gains from cooperation, the GHM results obtain. If taking the best...
Persistent link: https://www.econbiz.de/10014068770
This paper studies the Grossman-Hart-Moore (GHM) "property rights" approach to the theory of the firm under alternating-owners bargaining. When managers can pursue other occupations whilst negotiating over the division of the gains from cooperation, the GHM results obtain. If taking the best...
Persistent link: https://www.econbiz.de/10014073635
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