Showing 1 - 10 of 132,650
Persistent link: https://www.econbiz.de/10001666611
In this paper, we combine the strategic delegation approach of Fershtman-Judd-Sklivas with contets. The results show that besides a symmetric equilibrium there also exist asymmetric equilibria in which one owner induces pure sales maximization to his manager so that all the other firms drop out...
Persistent link: https://www.econbiz.de/10011539675
Persistent link: https://www.econbiz.de/10012300998
substitutability than it really has. This is so either because managers are biased and perceive the good in this way, or because firms …
Persistent link: https://www.econbiz.de/10012595219
Persistent link: https://www.econbiz.de/10001456654
Persistent link: https://www.econbiz.de/10000987470
Persistent link: https://www.econbiz.de/10000987481
Persistent link: https://www.econbiz.de/10002091853
Persistent link: https://www.econbiz.de/10012253970
still benefits from the increase in the merged firm's total value. Moreover, given that the managers are compensated … according to an identical linear incentive scheme, the optimal shareholder policy always entails a corner solution. Managers …
Persistent link: https://www.econbiz.de/10009491061