This paper models a family business as a closely-held technology that cannot be contracted upon. Each generation can either bequeath the business to the next generation, or it could sell it through a financial intermediary and bequeath the revenue.
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Paper provided by University of Iowa, Department of Economics in its series Working Papers with number
96-16.
Length: 18 pages Date of creation: 1996 Date of revision: Handle: RePEc:uia:iowaec:96-16
Contact details of provider: Postal: University of Iowa, Department of Economics, Henry B. Tippie College of Business, Iowa City, Iowa 52242 Phone: (319) 335-0829 Fax: (319) 335-1956 Web page: http://tippie.uiowa.edu/economics/ More information through EDIRC
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Find related papers by JEL classification: M10 - Business Administration and Business Economics; Marketing; Accounting - - Business Administration - - - General M21 - Business Administration and Business Economics; Marketing; Accounting - - Business Economics - - - Business Economics