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Does Asset Ownership Always Motivate Managers? Outside Options and the Property Rights Theory of the Firm

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Cited by:

  1. Osiris J. Parcero, 2009. "Optimal country's policy towards multinationals when local regions can choose between firm-specific and non-firm-specific policies," Working Papers 2009/34, Institut d'Economia de Barcelona (IEB).
  2. Raphaela Hyee, 2011. "Education in a Marriage Market Model without Commitment," Working Papers 683, Queen Mary University of London, School of Economics and Finance.
  3. Tobias Regner & Maija Halonen-Akatwijuka, 2004. "Digital Technology And The Allocation Of Ownership In The Music Industry," Royal Economic Society Annual Conference 2004 54, Royal Economic Society.
  4. Rehn, Eric, 2007. "Public Hospitals - Incentives and Organization," Working Papers 2007:13, Lund University, Department of Economics, revised 01 Apr 2008.
  5. Guriev Sergei, 2003. "Incomplete Contracts with Cross-Investments," The B.E. Journal of Theoretical Economics, De Gruyter, vol. 3(1), pages 1-32, August.
  6. repec:spo:wpmain:info:hdl:2441/67o636bvfi8j38dklemaqd9k3m is not listed on IDEAS
  7. Raghuram G. Rajan & Luigi Zingales, 1998. "Power in a Theory of the Firm," The Quarterly Journal of Economics, President and Fellows of Harvard College, vol. 113(2), pages 387-432.
  8. Hennessy, David A., 2003. "Property rights, productivity, and the nature of noncontractible actions in a franchise system," Journal of Economic Behavior & Organization, Elsevier, vol. 52(4), pages 443-468, December.
  9. M'hand Fares, 2006. "Renegotiation Design and Contract Solutions to the Hold‐Up Problem," Journal of Economic Surveys, Wiley Blackwell, vol. 20(5), pages 731-756, December.
  10. Stephen King & Rohan Pitchford, 2008. "Private or Public? Towards a Taxonomy of Optimal Ownership and Management Regimes," The Economic Record, The Economic Society of Australia, vol. 84(266), pages 366-377, September.
  11. Kvaløy, Ola, 2008. "Do norms matter for firm boundaries?," Journal of Behavioral and Experimental Economics (formerly The Journal of Socio-Economics), Elsevier, vol. 37(3), pages 969-975, June.
  12. Müller, Daniel & Schmitz, Patrick W., 2016. "Transaction costs and the property rights approach to the theory of the firm," European Economic Review, Elsevier, vol. 87(C), pages 92-107.
  13. Allison Loconto & Emmanuel Simbua, 2012. "Making Room for Smallholder Cooperatives in Tanzanian Tea Production: Can Fairtrade Do That?," Journal of Business Ethics, Springer, vol. 108(4), pages 451-465, July.
  14. Sebastian Kranz, 2013. "Relational Contracting, Repeated Negotiations, and Hold-Up," Levine's Working Paper Archive 786969000000000676, David K. Levine.
  15. Valeria Gattai & Piergiovanna Natale, 2017. "A New Cinderella Story: Joint Ventures And The Property Rights Theory Of The Firm," Journal of Economic Surveys, Wiley Blackwell, vol. 31(1), pages 281-302, February.
  16. Kusterer, David J. & Schmitz, Patrick W., 2017. "The management of innovation: Experimental evidence," Games and Economic Behavior, Elsevier, vol. 104(C), pages 706-725.
  17. Chong-En Bai & Zhigang Tao & Changqi Wu, 2004. "Revenue Sharing and Control Rights in Team Production: Theories and Evidence from Joint Ventures," RAND Journal of Economics, The RAND Corporation, vol. 35(2), pages 277-305, Summer.
  18. Chatterjee Kalyan & Chiu Y. Stephen, 2007. "When Does Competition Lead to Efficient Investments?," The B.E. Journal of Theoretical Economics, De Gruyter, vol. 7(1), pages 1-39, July.
  19. Schmitz, Patrick W., 2015. "Government versus private ownership of public goods: The role of bargaining frictions," Journal of Public Economics, Elsevier, vol. 132(C), pages 23-31.
  20. Rosenkranz, Stephanie & Schmitz, Patrick W., 2003. "Optimal allocation of ownership rights in dynamic R&D alliances," Games and Economic Behavior, Elsevier, vol. 43(1), pages 153-173, April.
  21. Sudipto Bhattacharya & Sergei Guriev, 2006. "Patents vs. Trade Secrets: Knowledge Licensing and Spillover," Journal of the European Economic Association, MIT Press, vol. 4(6), pages 1112-1147, December.
  22. Gorodnichenko Yury & Grigorenko Yegor & Ostanin Dmytro, 2006. "Relative property rights in transition economies: Can the oligarchs be productive?," EERC Working Paper Series 06-04e, EERC Research Network, Russia and CIS.
  23. Anton Miglo, 2011. "The Development of Property Rights for Intellectual Property," Journal of Economics and Behavioral Studies, AMH International, vol. 3(4), pages 224-234.
  24. Raphaela Hyee, 2011. "Education in a Marriage Market Model without Commitment," Working Papers 683, Queen Mary University of London, School of Economics and Finance.
  25. Lulfesmann, Christoph, 2002. "Central governance or subsidiarity: A property-rights approach to federalism," European Economic Review, Elsevier, vol. 46(8), pages 1379-1397, September.
  26. Driffield, Nigel & Mickiewicz, Tomasz & Temouri, Yama, 2016. "Ownership control of foreign affiliates: A property rights theory perspective," Journal of World Business, Elsevier, vol. 51(6), pages 965-976.
  27. Luca Anderlini & Leonardo Felli & Giovanni Immordino, 2019. "Costly Pretrial Agreements," The Journal of Legal Studies, University of Chicago Press, vol. 48(1), pages 159-188.
  28. Vasconcelos, Luís, 2014. "Contractual signaling, relationship-specific investment and exclusive agreements," Games and Economic Behavior, Elsevier, vol. 87(C), pages 19-33.
  29. David de Meza & Mariano Selvaggi, 2004. "Exclusive Contracts Foster Relationship-Specific Investment," The Centre for Market and Public Organisation 04/105, The Centre for Market and Public Organisation, University of Bristol, UK.
  30. Olivier Sautel, 2007. "L'évolution de la théorie des contrats incomplets face à la dé-intégration verticale," Revue d'économie industrielle, De Boeck Université, vol. 0(1), pages 5-5.
  31. Andreas Roider, 2004. "Asset Ownership and Contractibility of Interaction," RAND Journal of Economics, The RAND Corporation, vol. 35(4), pages 787-802, Winter.
  32. Maija Halonen, 2002. "Reputation And The Allocation Of Ownership," Economic Journal, Royal Economic Society, vol. 112(481), pages 539-558, July.
  33. Maija Halonen‐Akatwijuka, 2010. "Organizational Design, Technology and the Boundaries of the Firm," Economica, London School of Economics and Political Science, vol. 77(307), pages 544-564, July.
  34. Christian A. Ruzzier, 2009. "Asset Specificity and Vertical Integration: Williamson’s Hypothesis Reconsidered," Harvard Business School Working Papers 09-119, Harvard Business School.
  35. Ilya Segal & Michael D.Whinston, 2012. "Property Rights [The Handbook of Organizational Economics]," Introductory Chapters,, Princeton University Press.
  36. Philipp Koellinger & Christian Roessler, 2009. "Is More Entrepreneurship better?," Tinbergen Institute Discussion Papers 09-105/3, Tinbergen Institute, revised 03 Dec 2009.
  37. Antonio Nicita & Simone Sepe, 2012. "Incomplete contracts and competition: another look at fisher body/general motors?," European Journal of Law and Economics, Springer, vol. 34(3), pages 495-514, December.
  38. Aghion, Philippe & Dewatripont, Mathias & Legros, Patrick & Zingales, Luigi (ed.), 2016. "The Impact of Incomplete Contracts on Economics," OUP Catalogue, Oxford University Press, number 9780199826216.
  39. Halonen-Akatwijuka, Maija, 2012. "Nature of human capital, technology and ownership of public goods," Journal of Public Economics, Elsevier, vol. 96(11), pages 939-945.
  40. Ohlendorf, Susanne & Schmitz, Patrick, 2009. "Signaling an Outside Option," Discussion Paper Series of SFB/TR 15 Governance and the Efficiency of Economic Systems 281, Free University of Berlin, Humboldt University of Berlin, University of Bonn, University of Mannheim, University of Munich.
  41. Eitan Goldman & Gary Gorton, 2000. "The Visible Hand, the Invisible Hand and Efficiency," NBER Working Papers 7587, National Bureau of Economic Research, Inc.
  42. Manouchehrabadi, Behrang & Letizia, Paolo & Hendrikse, George, 2021. "Governance of collective entrepreneurship," Journal of Economic Behavior & Organization, Elsevier, vol. 185(C), pages 370-389.
  43. Patrick Legros & Andrew F. Newman, 2014. "Contracts, Ownership, and Industrial Organization: Past and Future," The Journal of Law, Economics, and Organization, Oxford University Press, vol. 30(suppl_1), pages 82-117.
  44. Bhattacharya, Sudipto & Guriev, Sergei, 2004. "Knowledge disclosure, patents and optimal organization of research and development," LSE Research Online Documents on Economics 19315, London School of Economics and Political Science, LSE Library.
  45. Rosenkranz, Stephanie & Schmitz, Patrick W., 2002. "Book Review of “Bargaining Theory with Applications” (Muthoo, 1999)," MPRA Paper 6973, University Library of Munich, Germany.
  46. Mathias Erlei & J. Philipp Siemer, 2014. "Endogenous Property Rights in a Hold-up Experiment," Metroeconomica, Wiley Blackwell, vol. 65(2), pages 237-270, May.
  47. Inderst, Roman & Wey, Christian, 2007. "Buyer power and supplier incentives," European Economic Review, Elsevier, vol. 51(3), pages 647-667, April.
  48. Pitchford, R. & King, S., 1998. "Private or Public? A Taxonomy of Optimal Ownership and Management Regimes," Papers 343, Australian National University - Department of Economics.
  49. Eric S. Chou, 2007. "The boundaries of firms as information barriers," RAND Journal of Economics, RAND Corporation, vol. 38(3), pages 733-746, September.
  50. Oliver Hart & Bengt Holmstrom, 2010. "A Theory of Firm Scope," The Quarterly Journal of Economics, President and Fellows of Harvard College, vol. 125(2), pages 483-513.
  51. Rosenkranz, Stephanie & Schmitz, Patrick W., 1999. "Know-how disclosure and incomplete contracts," Economics Letters, Elsevier, vol. 63(2), pages 181-185, May.
  52. Che,Y.-K. & Sakovics,J., 2004. "Contractual remedies to the holdup problem : a dynamic perspective," Working papers 3, Wisconsin Madison - Social Systems.
  53. Testa, Cecilia, 2010. "Bicameralism and corruption," European Economic Review, Elsevier, vol. 54(2), pages 181-198, February.
  54. João V. Montez, 2007. "Downstream mergers and producer's capacity choice: why bake a larger pie when getting a smaller slice?," RAND Journal of Economics, RAND Corporation, vol. 38(4), pages 948-966, December.
  55. Woodruff, Christopher, 2002. "Non-contractible investments and vertical integration in the Mexican footwear industry," International Journal of Industrial Organization, Elsevier, vol. 20(8), pages 1197-1224, October.
  56. Susheng Wang & Tian (Tim) Zhu, 2000. "Bargaining, Revenue Sharing and Control Rights Allocation," Econometric Society World Congress 2000 Contributed Papers 0373, Econometric Society.
  57. Decamps, Jean-Paul & Faure-Grimaud, Antoine, 2002. "Excessive continuation and dynamic agency costs of debt," European Economic Review, Elsevier, vol. 46(9), pages 1623-1644, October.
  58. Booth, Alison L & Francesconi, Marco & Zoega, Gylfi, 1999. "Training, Rent-Sharing and Unions," CEPR Discussion Papers 2200, C.E.P.R. Discussion Papers.
  59. Felipe Balmaceda, 2005. "Firm-Sponsored General Training," Journal of Labor Economics, University of Chicago Press, vol. 23(1), pages 115-134, January.
  60. Schmitz, Patrick W., 2013. "Investments in physical capital, relationship-specificity, and the property rights approach," Economics Letters, Elsevier, vol. 119(3), pages 336-339.
  61. Eric S Chou, 2003. "The Human Side of Firms," Levine's Working Paper Archive 618897000000000484, David K. Levine.
  62. Kerschbamer, Rudolf & Maderner, Nina & Tournas, Yanni, 2002. "Idiosyncratic investments, outside opportunities and the boundaries of the firm," International Journal of Industrial Organization, Elsevier, vol. 20(8), pages 1119-1141, October.
  63. Werner Güth & Radosveta Ivanova‐Stenzel & Sigve Tjotta, 2004. "Please, Marry Me! An Experimental Study of Risking a Joint Venture," Metroeconomica, Wiley Blackwell, vol. 55(1), pages 1-21, February.
  64. Antonio Nicita & Massimiliamo Vatiro, 2008. "Incomplete Contracts, Property Rights and Endogenous Outside Options," Department of Economics University of Siena 545, Department of Economics, University of Siena.
  65. João VIEIRA-MONTEZ, 2004. "Downstream Concentration and Producer's Capacity Choice," Cahiers de Recherches Economiques du Département d'économie 04.13, Université de Lausanne, Faculté des HEC, Département d’économie.
  66. Ola Kvaløy & Trond E. Olsen, 2008. "Cooperation in Knowledge-Intensive Firms," Journal of Human Capital, University of Chicago Press, vol. 2(4), pages 410-440.
  67. Werner Güth & Radosveta Ivanova-Stenzel & Matthias Sutter & Hannelore Weck-Hannemann, 2003. "Investment and Bargaining in Joint Ventures: A Family Decision Making Experiment," Journal of Institutional and Theoretical Economics (JITE), Mohr Siebeck, Tübingen, vol. 159(2), pages 323-341, June.
  68. Felipe Balmaceda, 2008. "Firm-Provided Training and Labor Market Policies," Documentos de Trabajo 252, Centro de Economía Aplicada, Universidad de Chile.
  69. David de Meza & Marianno Selvaggi, 2003. "Please Hold me Up: Why Firms Grant Exclusive Dealing Contracts," The Centre for Market and Public Organisation 03/066, The Centre for Market and Public Organisation, University of Bristol, UK.
  70. Antonio Nicita & Ugo Pagano, 2005. "Incomplete Contracts and Institutions," Chapters, in: Jürgen G. Backhaus (ed.), The Elgar Companion to Law and Economics, Second Edition, chapter 10, Edward Elgar Publishing.
  71. Schmitz, Patrick W., 2013. "Bargaining position, bargaining power, and the property rights approach," Economics Letters, Elsevier, vol. 119(1), pages 28-31.
  72. Ayse Mumcu, 2006. "Product Complementarity and Investment Incentives: Does Asset Ownership Matter?," Working Papers 2006/05, Bogazici University, Department of Economics.
  73. Roberto Burguet and Ramon Caminal, 2010. "Simultaneous Nash Bargaining with Consistent Beliefs," Working Papers 521, Barcelona School of Economics.
  74. Matouschek, Niko, 2002. "Information and the Optimal Ownership Structure of Firms," CEPR Discussion Papers 3216, C.E.P.R. Discussion Papers.
  75. Wait, A., 2001. "Delays in Bargaining With Incompelete Contracts," Department of Economics - Working Papers Series 809, The University of Melbourne.
  76. Andrew F. Newman & Patrick Legros, 2011. "Incomplete Contracts and Industrial Organization: A Survey," Boston University - Department of Economics - Working Papers Series WP2011-036, Boston University - Department of Economics.
  77. Roman Inderst & Christian Wey, 2005. "How Strong Buyers Spur Upstream Innovation," Discussion Papers of DIW Berlin 524, DIW Berlin, German Institute for Economic Research.
  78. Bengt Holmstrom & John Roberts, 1998. "The Boundaries of the Firm Revisited," Journal of Economic Perspectives, American Economic Association, vol. 12(4), pages 73-94, Fall.
  79. William Jack, 2004. "The Organization of Public Service Provision," Journal of Public Economic Theory, Association for Public Economic Theory, vol. 6(3), pages 409-425, August.
  80. Yeon-Koo Che & Jozsef Sakovics, 2006. "The Hold-up Problem," Edinburgh School of Economics Discussion Paper Series 142, Edinburgh School of Economics, University of Edinburgh.
  81. Dessein, Wouter, 2012. "Incomplete Contracts and Firm Boundaries: New Directions," CEPR Discussion Papers 9019, C.E.P.R. Discussion Papers.
  82. Swinnen, Johan F.M. & Vercammen, James, 2006. "Uncertainty and Specific Investment with Weak Contract Enforcement," 2006 Annual meeting, July 23-26, Long Beach, CA 21044, American Agricultural Economics Association (New Name 2008: Agricultural and Applied Economics Association).
  83. Schmitz, Patrick W., 2014. "Optimal ownership of public goods reconsidered," Economics Letters, Elsevier, vol. 125(1), pages 21-24.
  84. Rainer, Helmut, 2007. "Should we write prenuptial contracts?," European Economic Review, Elsevier, vol. 51(2), pages 337-363, February.
  85. Schmitz, Patrick W. & Kusterer, David J., 2018. "Government versus Private Ownership of Public Goods: Experimental Evidence," CEPR Discussion Papers 13204, C.E.P.R. Discussion Papers.
  86. Paul Walker, 2010. "The (Non)Theory Of The Knowledge Firm," Scottish Journal of Political Economy, Scottish Economic Society, vol. 57(1), pages 1-32, February.
  87. Goldlücke, Susanne & Kranz, Sebastian, 2017. "Reconciliating Relational Contracting and Hold-up: A Model of Repeated Negotiations," CEPR Discussion Papers 12540, C.E.P.R. Discussion Papers.
  88. Kusterer, David J. & Schmitz, Patrick W., 2020. "Public goods, property rights, and investment incentives: An experimental investigation," Journal of Economic Behavior & Organization, Elsevier, vol. 177(C), pages 514-532.
  89. Rainer, Helmut, 2007. "Should we write prenuptial contracts?," European Economic Review, Elsevier, vol. 51(2), pages 337-363, February.
  90. Robert Gibbons & John Roberts, 2012. "The Handbook of Organizational Economics," Economics Books, Princeton University Press, edition 1, volume 1, number 9889.
  91. Mumcu, Ayse, 2006. "Production Complementarity and Investment Incentives: Does Asset Ownership Matter?," MPRA Paper 1910, University Library of Munich, Germany.
  92. Gürtler, Oliver, 2006. "Optimal Ownership Structures in the Presence of Investment Signals," Discussion Paper Series of SFB/TR 15 Governance and the Efficiency of Economic Systems 103, Free University of Berlin, Humboldt University of Berlin, University of Bonn, University of Mannheim, University of Munich.
  93. Mori, Yusuke, 2020. "Ex ante investment, ex post adaptation, and joint ownership," Economics Letters, Elsevier, vol. 187(C).
  94. Kojun Hamada, 2017. "Incentive for innovation and the optimal allocation of patents," Australian Journal of Management, Australian School of Business, vol. 42(4), pages 692-707, November.
  95. David de Meza & Ben Lockwood, 2004. "Spillovers, Investment Incentives and the Property Rights Theory of the Firm," Journal of Industrial Economics, Wiley Blackwell, vol. 52(2), pages 229-253, June.
  96. Shantala Samant & Jongwook Kim, 2021. "Determinants of common benefits and private benefits in innovation alliances," Managerial and Decision Economics, John Wiley & Sons, Ltd., vol. 42(2), pages 294-307, March.
  97. Osiris J. Parcero, 2009. "Optimal country's policy towards multinationals when local regions can choose between firm-specific and non-firm-specific policies," Working Papers 2009/34, Institut d'Economia de Barcelona (IEB).
  98. Jiahua Che, 2003. "The Life Cycle of Government Ownership," William Davidson Institute Working Papers Series 2003-627, William Davidson Institute at the University of Michigan.
  99. Chiu, Y. Stephen & Rachel Yang, B., 1999. "The outside option, threat point, and Nash bargaining solution," Economics Letters, Elsevier, vol. 62(2), pages 181-188, February.
  100. Montez, João, 2014. "One-to-many bargaining when pairwise agreements are non-renegotiable," Journal of Economic Theory, Elsevier, vol. 152(C), pages 249-265.
  101. Chong-En Bai & Zhigang Tao & Changqi Wu, 2000. "Expropriation and Incentives for Team Production," Econometric Society World Congress 2000 Contributed Papers 0807, Econometric Society.
  102. repec:hal:spmain:info:hdl:2441/67o636bvfi8j38dklemaqd9k3m is not listed on IDEAS
  103. Valeria Gattai & Piergiovanna Natale, 2014. "Joint Ventures and the Property Rights Theory of the Firm: a Review of the Literature," Working Papers 287, University of Milano-Bicocca, Department of Economics, revised Dec 2014.
  104. Eric Chou, 2004. "The Boundaries of the Firms as Information Barriers," Econometric Society 2004 North American Summer Meetings 313, Econometric Society.
  105. He, Leshui, 2016. "Beyond asset ownership: Employment and assetless firms in the property rights theory of the firm," Journal of Economic Behavior & Organization, Elsevier, vol. 130(C), pages 261-273.
  106. Hearn, Bruce, 2022. "The Determinants of Foreign Multinational Enterprise Firms' Board Governance in Caribbean Offshore Island Economies," Journal of International Management, Elsevier, vol. 28(4).
  107. Spagnolo, Giancarlo & Blonski, Matthias, 2002. "Relational Contracts and Property Rights," CEPR Discussion Papers 3460, C.E.P.R. Discussion Papers.
  108. Belloc, Filippo, 2022. "Profit sharing and innovation across organizational layers," Journal of Economic Behavior & Organization, Elsevier, vol. 197(C), pages 598-623.
  109. Kurt Annen, 2009. "Efficiency out of disorder: Contested ownership in incomplete contracts," RAND Journal of Economics, RAND Corporation, vol. 40(4), pages 597-610, December.
  110. Castaneda, Marco A., 2006. "The hold-up problem in a repeated relationship," International Journal of Industrial Organization, Elsevier, vol. 24(5), pages 953-970, September.
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