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Collective Choice and Control Rights in Firms

Author

Listed:
  • Dow, G.K.
  • Skillman, G.L.

Abstract

Because contracts among input suppliers are incomplete, it is necessary to assign rights to determine the policies of the firm. Two leading contenders for such control rights are investors and workers. Large enterprises are generally controlled by capital suppliers or their agents. We trace this pattern to an underlying asymmetry in the characteristics of capital and labor.

Suggested Citation

  • Dow, G.K. & Skillman, G.L., 1998. "Collective Choice and Control Rights in Firms," Discussion Papers dp98-08, Department of Economics, Simon Fraser University.
    • Handle: RePEc:sfu:sfudps:dp98-08
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    Citations

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    Cited by:

    1. Natália Monteiro & Geoff Stewart, 2015. "Scale, Scope and Survival: A Comparison of Cooperative and Capitalist Modes of Production," Review of Industrial Organization, Springer;The Industrial Organization Society, vol. 47(1), pages 91-118, August.
    2. Gregory Dow, 2001. "Allocating Control over Firms: Stock Markets versus Membership Markets," Review of Industrial Organization, Springer;The Industrial Organization Society, vol. 18(2), pages 201-218, March.
    3. repec:bla:annpce:v:89:y:2018:i:1:p:65-86 is not listed on IDEAS
    4. David Kelsey & Frank Milne, 2010. "Takeovers and cooperatives: governance and stability in non-corporate firms," Journal of Economics, Springer, vol. 99(3), pages 193-209, April.
    5. Giuseppe Danese & Luigi Mittone, 2015. "Trust and trustworthiness in experimental organizations," CEEL Working Papers 1501, Cognitive and Experimental Economics Laboratory, Department of Economics, University of Trento, Italia.
    6. Dow, Gregory K. & Putterman, Louis, 2000. "Why capital suppliers (usually) hire workers: what we know and what we need to know," Journal of Economic Behavior & Organization, Elsevier, vol. 43(3), pages 319-336, November.
    7. Damion Jonathan Bunders & Agnes Akkerman, 2023. "Commitment issues? Analysing the effect of preference deviation and social embeddedness on member commitment to worker cooperatives in the gig economy," Economic and Industrial Democracy, Department of Economic History, Uppsala University, Sweden, vol. 44(4), pages 1007-1026, November.
    8. Gregory K. DOW, 2018. "The Theory Of The Labor-Managed Firm: Past, Present, And Future," Annals of Public and Cooperative Economics, Wiley Blackwell, vol. 89(1), pages 65-86, March.
    9. Dow,Gregory K., 2019. "The Labor-Managed Firm," Cambridge Books, Cambridge University Press, number 9781107589650, January.

    More about this item

    Keywords

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    JEL classification:

    • L21 - Industrial Organization - - Firm Objectives, Organization, and Behavior - - - Business Objectives of the Firm
    • L23 - Industrial Organization - - Firm Objectives, Organization, and Behavior - - - Organization of Production

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