Business, Management and Accounting
4 years ago

Ownership Structures Upend Investment Incentives, Challenging Property Rights Theory

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RePEc: Research Papers in Economics
Information Gathering, Transaction Costs and the Property Rights Approach
Patrick W. Schmitz

Paper Summary

The article discusses how companies decide who owns what to encourage investments and efficient deals. It looks at how one party can gain an advantage by gathering secret information about potential profits. Surprisingly, sometimes it's better for the other party to own things, even if they didn't make the investment.

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