Equilibrium corporate ownership structure with free-riding

Konrad, Kai A.

[working paper]

dc.contributor.author	Konrad, Kai A.	de
dc.date.accessioned	2016-12-05T11:29:02Z
dc.date.available	2016-12-05T11:29:02Z
dc.date.issued	1992	de
dc.identifier.uri	http://www.ssoar.info/ssoar/handle/document/49332
dc.description.abstract	Management control by shareholders is a public good. In the Nash equilibrium only the largest shareholder spends effort on management control. This is an incentive not to be the largest shareholder, and this incentive determines some properties of equilibrium corporate ownership structure. In particular, a perfect market with endogenous shareholdings and Nash behavior cannot overcome the underprovision problem implied by the public good problem, even if any diversification incentive for risk sharing is absent.	en
dc.language	en	de
dc.subject.ddc	Wirtschaft	de
dc.subject.ddc	Economics	en
dc.title	Equilibrium corporate ownership structure with free-riding	de
dc.source.volume	92-22	de
dc.publisher.country	DEU
dc.publisher.city	München	de
dc.source.series	Münchener Wirtschaftswissenschaftliche Beiträge
dc.subject.classoz	Management	de
dc.subject.classoz	Management Science	en
dc.subject.thesoz	Unternehmen	de
dc.subject.thesoz	enterprise	en
dc.subject.thesoz	Gleichgewicht	de
dc.subject.thesoz	equilibrium	en
dc.subject.thesoz	Eigentum	de
dc.subject.thesoz	property	en
dc.subject.thesoz	Struktur	de
dc.subject.thesoz	structure	en
dc.subject.thesoz	Shareholder Value	de
dc.subject.thesoz	shareholder value	en
dc.subject.thesoz	Management	de
dc.subject.thesoz	management	en
dc.subject.thesoz	Kontrolle	de
dc.subject.thesoz	control	en
dc.subject.thesoz	öffentliches Gut	de
dc.subject.thesoz	nonmarket good	en
dc.subject.thesoz	Risiko	de
dc.subject.thesoz	risk	en
dc.subject.thesoz	Anreizsystem	de
dc.subject.thesoz	incentive system	en
dc.subject.thesoz	Ökonomie	de
dc.subject.thesoz	economy	en
dc.rights.licence	Deposit Licence - Keine Weiterverbreitung, keine Bearbeitung	de
dc.rights.licence	Deposit Licence - No Redistribution, No Modifications	en
internal.status	formal und inhaltlich fertig erschlossen	de
internal.identifier.thesoz	10039009
internal.identifier.thesoz	10045803
internal.identifier.thesoz	10038800
internal.identifier.thesoz	10034872
internal.identifier.thesoz	10066349
internal.identifier.thesoz	10040412
internal.identifier.thesoz	10042486
internal.identifier.thesoz	10049197
internal.identifier.thesoz	10045555
internal.identifier.thesoz	10035721
internal.identifier.thesoz	10035305
dc.type.stock	monograph	de
dc.type.document	Arbeitspapier	de
dc.type.document	working paper	en
internal.identifier.classoz	1090401
internal.identifier.document	3
dc.contributor.corporateeditor	Universität München, Volkswirtschaftliche Fakultät
internal.identifier.corporateeditor	746
internal.identifier.ddc	330
internal.identifier.licence	3
dc.description.misc	wzbReportsAndWorkingPapers-10419_112692	de
internal.identifier.series	1033
dc.identifier.handle	https://hdl.handle.net/10419/112692
internal.check.abstractlanguageharmonizer	CERTAIN

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