Arithmetics of Property Rights: A Leontief-type Model of Ownership Structures
A 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 æfamily capitalismÆ and æcapitalism of agentsÆ 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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Volume (Year): 23 (2005)
Issue (Month): ()
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- 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.
- 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.
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