Competing for Ownership

Patrick Legros and Andrew Newman

No dp-148, Boston University - Department of Economics - The Institute for Economic Development Working Papers Series from Boston University - Department of Economics

Abstract: We study how the internal organization of firms — specifically, the allocation of ownership of assets and the distribution of profit among the firm’s managers — is determined in a competitive market. We ask how scarcity of assets, skills or liquidity in the market translates into ownership and control allocations within organizations. Firms will be more integrated when the terms of trade are more favorable to the short side of the market, when liquidity is unequally distributed among existing firms and when there is a positive uniform shock to productivity. The model identifies a price-like mechanism whereby local liquidity or productivity shocks propagate and lead to widespread organizational restructuring.

Pages: 45 pages
Date: 2004-05
New Economics Papers: this item is included in nep-bec and nep-com
References: View references in EconPapers View complete reference list from CitEc
Citations: View citations in EconPapers (9)

Downloads: (external link)
http://www.bu.edu/econ/ied/dp/papers/dp148Newman.pdf (application/pdf)
Our link check indicates that this URL is bad, the error code is: 404 Not Found (http://www.bu.edu/econ/ied/dp/papers/dp148Newman.pdf [301 Moved Permanently]--> https://www.bu.edu/econ/ied/dp/papers/dp148Newman.pdf)

Related works:
Journal Article: Competing for Ownership (2008)
Working Paper: Competing for ownership (2008)
Working Paper: Competing for Ownership (2007)
Working Paper: Competing for Ownership (2007)
Working Paper: Competing for Ownership (2000)
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:bos:iedwpr:dp-148

Access Statistics for this paper

More papers in Boston University - Department of Economics - The Institute for Economic Development Working Papers Series from Boston University - Department of Economics Contact information at EDIRC.
Bibliographic data for series maintained by Program Coordinator ().