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Meanings of ownership of the firm

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  • Simon Learmount
  • John Roberts
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    Abstract

    The notion of 'ownership of the firm' is central to conventional treatments of corporate governance, yet there is very little discussion about what this means in practice. In this paper we briefly draw attention to some of the debates around the notion of ownership in various disciplinary fields, and then recount and discuss some of the meanings associated with ownership of the firm that we have found in two empirical studies carried out in the UK and Japan. Our aim is to illuminate and disturb some of the commonly taken for granted notions of what it means to 'own' a firm.

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    File URL: http://www.cbr.cam.ac.uk/pdf/WP238.pdf
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    Bibliographic Info

    Paper provided by ESRC Centre for Business Research in its series ESRC Centre for Business Research - Working Papers with number wp238.

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    Date of creation: Jun 2002
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    Handle: RePEc:cbr:cbrwps:wp238

    Note: PRO-2
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    Web page: http://www.cbr.cam.ac.uk/

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    Keywords: corporate governance; ownership;

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    1. Armen A. Alchian & Harold Demsetz, 1971. "Production, Information Costs and Economic Organizations," UCLA Economics Working Papers 10A, UCLA Department of Economics.
    2. Fama, Eugene F, 1980. "Agency Problems and the Theory of the Firm," Journal of Political Economy, University of Chicago Press, vol. 88(2), pages 288-307, April.
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