On The Future of Co-operatives
AbstractTwo extensions are formulated of the analysis of the allocation ofdecision rights in Hendrikse and Veerman (2001). First, the incompletecontracts in their article can be viewed as simple long-termcontracts, i.e. it is not allowed to make the allocation of authoritycontingent on the circumstances. Contingent long-term contracts arenow considered. Second, another aspect of decision rights is thefrequency of meetings between the owners and managers of enterprises.This aspect will be addressed from a long-term contract perspective aswell as a loss aversion perspective.
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Date of creation: 10 Feb 2003
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contingent control rights; frequency of board meetings;
This paper has been announced in the following NEP Reports:
- NEP-AGR-2003-03-25 (Agricultural Economics)
- NEP-ALL-2003-02-24 (All new papers)
- NEP-COM-2003-02-24 (Industrial Competition)
- NEP-HIS-2003-02-24 (Business, Economic & Financial History)
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