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Ownership and Managerial competition: Employee, Customer, or Outside Ownership

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  • Patrick Bolton
  • Chenggang Xu

Abstract

It is widely accepted that only the protection of private property rights and competition by rival firms provides adequate Incentive to perform for managers and employees. However, it is not entirely clear how ownership interacts with competition. This paper centers on the question of ownership of firms and managerial competition and how these affect managers and employees' incentives to invest in human capital.

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File URL: http://www.wdi.umich.edu/files/Publications/WorkingPapers/wp174.pdf
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Bibliographic Info

Paper provided by William Davidson Institute at the University of Michigan in its series William Davidson Institute Working Papers Series with number 174.

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Length: pages
Date of creation: 01 Jun 1998
Date of revision:
Handle: RePEc:wdi:papers:1998-174

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  1. Oliver Hart & Andrei Shleifer & Robert Vishny, 1996. "The Proper Scope of Government: Theory and an Application to Prisons," Harvard Institute of Economic Research Working Papers 1778, Harvard - Institute of Economic Research.
  2. Oliver Hart & John Moore, 1998. "Cooperatives vs. Outside Ownership," NBER Working Papers 6421, National Bureau of Economic Research, Inc.
  3. Bonin, John P & Jones, Derek C & Putterman, Louis, 1993. "Theoretical and Empirical Studies of Producer Cooperatives: Will Ever the Twain Meet?," Journal of Economic Literature, American Economic Association, vol. 31(3), pages 1290-320, September.
  4. De Meza, D. & Lockwood, Ben, 1997. "Does Asset Ownership Always Motivate Managers? The Property Rights Theory of the Firm with Alternating - Offers Bargaining," Discussion Papers 9701, Exeter University, Department of Economics.
  5. Armen A. Alchian & Harold Demsetz, 1971. "Production, Information Costs and Economic Organizations," UCLA Economics Working Papers 10A, UCLA Department of Economics.
  6. Edward L. Glaeser & Andrei Shleifer, 1998. "Not-For-Profit Entrepreneurs," NBER Working Papers 6810, National Bureau of Economic Research, Inc.
  7. Hart, Oliver & Moore, John, 1990. "Property Rights and the Nature of the Firm," Journal of Political Economy, University of Chicago Press, vol. 98(6), pages 1119-58, December.
  8. Dow, G & Putterman, L, 1996. "Why Capital (Usually) Hires Labor : An Assessment of Proposed Explanations," Discussion Papers dp97-03, Department of Economics, Simon Fraser University.
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Cited by:
  1. Matouschek, Niko, 1999. "Foreign Direct Investment and Spillovers through Backward Linkages," CEPR Discussion Papers 2283, C.E.P.R. Discussion Papers.
  2. Chong-En Bai & Chenggang Xu, 2001. "Ownership, Incentives and Monitoring," STICERD - Theoretical Economics Paper Series 413, Suntory and Toyota International Centres for Economics and Related Disciplines, LSE.

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