The Capital-Centered Model of Corporate Ownership

Nikolay Naydenov ()

Economic Thought journal, 2007, issue 1, 42-59

Abstract: The article deals with the traditional model of corporate ownership, named “capital-centered”, which corresponds to the Anglo-Saxon model of corporate governance. The model is unfolded by reviewing the problems stemming from the separation of ownership and control in the corporate form in light of the main theoretical streams dealing with them, namely, 1) the transfer of control from owners to top managers highlighted by managerial theories; 2) conflicts between stakeholders and managers and their mitigation by the agency theory mechanisms for bringing the interests of the two groups, including the internal governance organs and external disciplining factors; and 3) raising firm efficiency by its managerial structure, internal organization, what transaction cost theory focuses upon. The traditional forms of control over a corporate enterprise are shown and in conclusion a summary of the model is made.

JEL-codes: B21 D23 G34 (search for similar items in EconPapers)
Date: 2007
References: View references in EconPapers View complete reference list from CitEc
Citations:

Downloads: (external link)
http://www.ceeol.com/aspx/issuedetails.aspx?issuei ... ab-a1d6-0fa7d9f3918c
Fee access

Related works:
This item may be available elsewhere in EconPapers: Search for items with the same title.

Export reference: BibTeX RIS (EndNote, ProCite, RefMan) HTML/Text

Persistent link: https://EconPapers.repec.org/RePEc:bas:econth:y:2007:i:1:p:42-59

Access Statistics for this article

More articles in Economic Thought journal from Bulgarian Academy of Sciences - Economic Research Institute Contact information at EDIRC.
Bibliographic data for series maintained by Diana Dimitrova ().