Kolesnik, Georgiy (2011): Распределение прав собственности и максимизация коллективного благосостояния. Published in: Экономика и математические методы , Vol. 48, No. 2 (April 2012): pp. 40-50.
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Abstract
The author considers economic systems with the property rights distributed among several agents. It is shown that outside interests of the owners make management strategies dependent on the property rights allocation. Unfavorable initial property rights allocation together with the barriers on their re-allocation leads to the inefficiency of the firms’ management.
Item Type: | MPRA Paper |
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Original Title: | Распределение прав собственности и максимизация коллективного благосостояния |
English Title: | An ownership allocation and collective welfare maximization |
Language: | Russian |
Keywords: | property rights, conflict of interests, welfare, efficiency, competition, oligopoly |
Subjects: | C - Mathematical and Quantitative Methods > C7 - Game Theory and Bargaining Theory > C72 - Noncooperative Games D - Microeconomics > D2 - Production and Organizations > D23 - Organizational Behavior ; Transaction Costs ; Property Rights D - Microeconomics > D4 - Market Structure, Pricing, and Design > D43 - Oligopoly and Other Forms of Market Imperfection L - Industrial Organization > L1 - Market Structure, Firm Strategy, and Market Performance > L13 - Oligopoly and Other Imperfect Markets L - Industrial Organization > L2 - Firm Objectives, Organization, and Behavior > L21 - Business Objectives of the Firm |
Item ID: | 72959 |
Depositing User: | Georgiy Kolesnik |
Date Deposited: | 10 Aug 2016 21:31 |
Last Modified: | 13 Oct 2019 17:59 |
References: | Coase R. (1960) The Problem of Social Cost // J. of Law and Econ. Vol.3. No.1. P.1–44. Grossman S., Hart O. (1986) The Costs and Benefits of Ownership: a Theory of Vertical and Lateral Integration // J. of Political Econ. Vol.94. P.691–719. Hart O., Moore J. (1990) Property Rights and the Nature of the Firm // J. of Political Econ. Vol.98. No.6. P.1119–1158. Jensen M., Meckling W. (1976) Theory of the Firm: Managerial Behavior, Agency Cost, and Capital Structure // J. of Financial Econ. Vol.3. No.4. P.305–360. Morck R., Shleifer A., Vishny R. (1988) Management Ownership and Market Valuation: an Empirical Analysis // J. of Financial Economics. Vol.20. No.1–2. P.293–315. Shleifer A., Vishny R. (1986) Large Shareholders and Corporate Control // J. of Political Econ. Vol.94. No.3. P.461–488. Stulz R. (1988) Managerial Control of Voting Rights: Financing Policies and the Market for Corporate Control // J. of Financial Econ. Vol.20. No.1–2. P.25–54. |
URI: | https://mpra.ub.uni-muenchen.de/id/eprint/72959 |