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Family Capitalism vs. Capitalism of Agents A Leontief-type Model of Ownership Structures

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  • František Turnovec

Abstract

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.

Suggested Citation

  • František Turnovec, 2001. "Family Capitalism vs. Capitalism of Agents A Leontief-type Model of Ownership Structures," Bulletin of the Czech Econometric Society, The Czech Econometric Society, vol. 8(13).
  • Handle: RePEc:czx:journl:v:8:y:2001:i:13:id:98
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    File URL: http://ces.utia.cas.cz/bulletin/index.php/bulletin/article/view/98
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    Keywords

    Corporate governance; Leontief's model; ownership structure; pnmary owners; secondary owners;

    JEL classification:

    • 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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