Family Capitalism vs. Capitalism of Agents A Leontief-type Model of Ownership Structures
A simple algebraic model of a property structure leading to the Leontief's input-output scheme is developed and used to eliminate indirect ownership relations and evaluate the fmal distribution of national property among individual owners. Concepts of "family capitalism" and "capitalism of agents" type of corporate governance are defmed and compared. Implications of different designs of corporate governance for general equilibrium theory, profit distribution and decision making are discussed.
Volume (Year): 8 (2001)
Issue (Month): 13 ()
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