کد مقاله کد نشریه سال انتشار مقاله انگلیسی نسخه تمام متن
5059781 1371790 2013 4 صفحه PDF دانلود رایگان
عنوان انگلیسی مقاله ISI
Investments in physical capital, relationship-specificity, and the property rights approach
ترجمه فارسی عنوان
سرمایه گذاری در سرمایه فیزیکی، روابط خاص و رویکرد حقوق مالکیت
موضوعات مرتبط
علوم انسانی و اجتماعی اقتصاد، اقتصادسنجی و امور مالی اقتصاد و اقتصادسنجی
چکیده انگلیسی
We reconsider the property rights approach to the theory of the firm based on incomplete contracts. We explore the implications of different degrees of relationship-specificity when there are two parties, A and B, who can make investments in physical capital (instead of human capital). If relationship-specificity is exogenously given, it turns out that joint asset ownership can be optimal only if the degree of relationship-specificity is sufficiently small. If relationship-specificity can be freely chosen and if party A's investments are more productive, then the parties deliberately choose a strictly positive level of relationship-specificity and they always agree on sole ownership by party A.
ناشر
Database: Elsevier - ScienceDirect (ساینس دایرکت)
Journal: Economics Letters - Volume 119, Issue 3, June 2013, Pages 336-339
نویسندگان
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