Arithmetic of Property Rights: A Leontief-type Model of Ownership Structures

Frantisek Turnovec ()

No 70, Working Papers IES from Charles University Prague, Faculty of Social Sciences, Institute of Economic Studies

Abstract: A simple algebraic model of a property structure leading to the Leontief-type input-output scheme is developed and used to eliminate indirect ownership relations and evaluate the final distribution of national property among individual owners. Concepts of "family capitalism" and "capitalism of agents" type of corporate governance are defined and compared. Implications of different designs of corporate governance for general equilibrium theory, profit distribution and decision making are discussed.

Keywords: Corporate governance; Leontief input-output model; ownership structure; primary owners; principal-agent problem; secondary owners (search for similar items in EconPapers)
JEL-codes: C60 K11 L33 (search for similar items in EconPapers)
Pages: 11 pages
Date: 2005, Revised 2005
New Economics Papers: this item is included in nep-law
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Citations: View citations in EconPapers (1)

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Journal Article: Arithmetics of Property Rights: A Leontief-type Model of Ownership Structures (2005)
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