Arithmetic of Property Rights: A Leontief-type Model of Ownership Structures
AbstractA simple algebraic model of a property structure leading to the Leontief-type input-output scheme is developed and used to eliminate indirect ownership relations and evaluate the final distribution of national property among individual owners. Concepts of "family capitalism" and "capitalism of agents" type of corporate governance are defined and compared. Implications of different designs of corporate governance for general equilibrium theory, profit distribution and decision making are discussed.
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Bibliographic InfoPaper provided by Charles University Prague, Faculty of Social Sciences, Institute of Economic Studies in its series Working Papers IES with number 70.
Length: 11 pages
Date of creation: 2005
Date of revision: 2005
Corporate governance; Leontief input-output model; ownership structure; primary owners; principal-agent problem; secondary owners;
Other versions of this item:
- František Turnovec, 2005. "Arithmetics of Property Rights: A Leontief-type Model of Ownership Structures," Homo Oeconomicus, Institute of SocioEconomics, vol. 23, pages 371-379.
- C60 - Mathematical and Quantitative Methods - - Mathematical Methods; Programming Models; Mathematical and Simulation Modeling - - - General
- L33 - Industrial Organization - - Nonprofit Organizations and Public Enterprise - - - Comparison of Public and Private Enterprise and Nonprofit Institutions; Privatization; Contracting Out
- K11 - Law and Economics - - Basic Areas of Law - - - Property Law
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- Karel Janda, 2003. "Credit guarantees in a credit market with adverse selection," Prague Economic Papers, University of Economics, Prague, vol. 2003(4).
- Karel Janda, 2004. "Bankruptcy Procedures with Ex Post Moral Hazard," Working Papers IES 61, Charles University Prague, Faculty of Social Sciences, Institute of Economic Studies, revised 2004.
- František Turnovec & Jacek W. Mercik & Mariusz Mazurkiewicz, 2004. "Power Indices: Shapley-Shubik OR Penrose-Banzhaf?," Working Papers IES 48, Charles University Prague, Faculty of Social Sciences, Institute of Economic Studies, revised 2004.
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