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Ownership, Organization, and Private Firm's efficient use of resources

Author

Listed:
  • Rodolphe Durand

    () (GREGH - Groupement de Recherche et d'Etudes en Gestion à HEC - HEC Paris - Ecole des Hautes Etudes Commerciales - CNRS - Centre National de la Recherche Scientifique)

  • Vicente Vargas

    (school of business administration - University of San Diego)

Abstract

The principal-agent theory asserts that public firms' performance is driven by efficient capital and labor markets but is silent about non-listed private companies, which are less permeable to market forces (both capital and labor) than are public companies. We propose and test a 2 x 2 framework distinguishing owner-controlled vs. agent-led firms from firms with a flat vs. multilayer organization. Our findings provide highly contrasted results and raise important issues for further study of private firms.

Suggested Citation

  • Rodolphe Durand & Vicente Vargas, 2003. "Ownership, Organization, and Private Firm's efficient use of resources," Post-Print hal-00699294, HAL.
  • Handle: RePEc:hal:journl:hal-00699294
    DOI: 10.1002/smj.321
    Note: View the original document on HAL open archive server: https://hal-hec.archives-ouvertes.fr/hal-00699294
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    Cited by:

    1. repec:eee:respol:v:48:y:2019:i:9:31 is not listed on IDEAS
    2. Allen, Franklin & Qian, Jun & Zhang, Chenying, 2011. "An Alternative View on Law, Institutions, Finance and Growth," Working Papers 11-64, University of Pennsylvania, Wharton School, Weiss Center.
    3. Iwasaki, Ichiro & Kočenda, Evžen, 2018. "Survival of Service Firms in European Emerging Economies," CEI Working Paper Series 2018-7, Center for Economic Institutions, Institute of Economic Research, Hitotsubashi University.
    4. Constantin Schön & Thomas Ehrmann & Katja Rost, 2015. "Ownership, Visibility and Effort: Golf Handicaps as Proxies for Managers' Extra Effort," Kyklos, Wiley Blackwell, vol. 68(2), pages 255-274, May.
    5. repec:eee:touman:v:33:y:2012:i:5:p:1122-1127 is not listed on IDEAS
    6. repec:eee:jobuve:v:5:y:2016:i:c:p:63-69 is not listed on IDEAS
    7. Danny Miller & Isabelle Le Breton‐Miller & Richard H. Lester, 2011. "Family and Lone Founder Ownership and Strategic Behaviour: Social Context, Identity, and Institutional Logics," Journal of Management Studies, Wiley Blackwell, vol. 48(1), pages 1-25, January.
    8. Mark E. Pickering, 2015. "An Exploratory Study of Profit Reporting Differences of Publicly Owned Professional Service Firms and Partnerships," Australian Accounting Review, CPA Australia, vol. 25(3), pages 262-278, September.
    9. Shou-Lin Yang, 2016. "Corporate social responsibility and an enterprise’s operational efficiency: considering competitor’s strategies and the perspectives of long-term engagement," Quality & Quantity: International Journal of Methodology, Springer, vol. 50(6), pages 2553-2569, November.
    10. Isabel-María García-Sánchez, 2010. "The effectiveness of corporate governance: board structure and business technical efficiency in Spain," Central European Journal of Operations Research, Springer;Slovak Society for Operations Research;Hungarian Operational Research Society;Czech Society for Operations Research;Österr. Gesellschaft für Operations Research (ÖGOR);Slovenian Society Informatika - Section for Operational Research;Croatian Operational Research Society, vol. 18(3), pages 311-339, September.

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