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Consider a non-governmental organization (NGO) that can invest in a public good. Should the government or the NGO own …
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Consider two parties who can make non-contractible investments in the provision of a public good. Who should own the physical assets needed to provide the public good? In the literature it has been argued that the party who values the public good most should be the owner, regardless of the...
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equilibria are inefficient. Specifically, the provision of public goods tends to be inefficiently low due to strategic abstention …
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Equity ties between businesses change the division of the firms joint profits, thereby affecting incentives for relation-specific investments and other strategic actions. Depending on which side owns the equity and how readily the equity can be resold, we find that the changed incentives can...
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firm's assets in the spirit of the Grossman-Hart-Moore incomplete contracts theory of the firm. This approach highlights …
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Although acquisitions of high tech entrepreneurial firms are of great popularity, the limited empirical evidence shows that these acquisitions often lead to dismal results in that a large number of acquired inventors leave the company after the acquisition and those that remain exhibit poor...
Persistent link: https://www.econbiz.de/10009514533
manager invests or too strong incentives if the government invests) and of privatization (too strong incentives for the …
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The property rights approach to the theory of the firm is the most prominent application of the incomplete contracting …
Persistent link: https://www.econbiz.de/10012864429