Collective Choice and Control Rights in Firms

Gregory K. Dow and G.L. Skillman

Discussion Papers from Department of Economics, Simon Fraser University

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.

Keywords: CAPITAL; OPTIMIZATION; SOCIAL CHOICE (search for similar items in EconPapers)
JEL-codes: L21 L23 (search for similar items in EconPapers)
Date: 1998
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Working Paper: Collective Choice and Control Rights in Firms (2005)
Journal Article: Collective Choice and Control Rights in Firms (2007)
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