Incomplete Contracts and the Internal Organisation of Firms
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Release | : 2013 |
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Release | : 2013 |
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Author | : Philippe Aghion |
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Total Pages | : 0 |
Release | : 2013 |
Genre | : Economics |
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We survey the theoretical and empirical literature on decentralization within firms. We first discuss how the concept of incomplete contracts shapes our views about the organization of decision-making within firms. We then overview the empirical evidence on the determinants of decentralization and on the effects of decentralization on firm performance. A number of factors highlighted in the theory are shown to be important in accounting for delegation, such as heterogeneity and congruence of preferences as proxied by trust. Empirically, competition, human capital and IT also appear to foster decentralization. There are substantial gaps between theoretical and empirical work and we suggest avenues for future research in bridging this gap.
Author | : Philippe Aghion |
Publisher | : Oxford University Press |
Total Pages | : 224 |
Release | : 2015-12-22 |
Genre | : Business & Economics |
ISBN | : 0190259019 |
The 1986 article by Sanford J. Grossman and Oliver D. Hart titled "A Theory of Vertical and Lateral Integration" has provided a framework for understanding how firm boundaries are defined and how they affect economic performance. The property rights approach has provided a formal way to introduce incomplete contracting ideas into economic modeling. The Impact of Incomplete Contracts on Economics collects papers and opinion pieces on the impact that this property right approach to the firm has had on the economics profession.
Author | : W. Bentley MacLeod |
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Total Pages | : |
Release | : 2014 |
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Author | : Philippe Aghion |
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Total Pages | : 31 |
Release | : 2013 |
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Author | : Nicolai J. Foss |
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Total Pages | : 22 |
Release | : 1996 |
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ISBN | : 9788778730015 |
Author | : L. Lambertini |
Publisher | : Springer |
Total Pages | : 212 |
Release | : 2009-10-09 |
Genre | : Business & Economics |
ISBN | : 0230274331 |
The interplay between firms' internal organization and market behaviour is a long standing issue in industrial economics. This book examines firms' objectives in the comparatively new perspective shaped by globalization. The positive and normative aspects of theoretical analysis are developed and richly complemented by empirical studies.
Author | : Gene M. Grossman |
Publisher | : |
Total Pages | : 60 |
Release | : 1999 |
Genre | : Contracts |
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Author | : Nicolai J. Foss |
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Total Pages | : 39 |
Release | : 1997 |
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ISBN | : 9788778730305 |
Author | : Masahiko Aoki |
Publisher | : Sage Publications (CA) |
Total Pages | : 376 |
Release | : 1990 |
Genre | : Industrial organization |
ISBN | : |
Leading experts on the theory of the firm advance a new approach to understanding the nature of the firm, and open up the prospect of a new interdisciplinary "science of organization".