A fundamental question for economics is why large firms in market economies usually
assign control rights to capital suppliers rather than labor suppliers. A diverse collection of …

Most large firms are controlled by shareholders, who choose the board of directors and can
replace the firms management. In rare instances, however, control over the firm rests with …

Die Neuauflage berücksichtigt die Umstellung der Diplomstudiengänge auf Bachelor und
Master, so daß das Buch sowohl für Bachelor-Einführungsveranstaltungen als auch für …

Information technology professionals are required to possess both technical and
professional skills while functioning in teams. Higher education institutions are promoting …

We consider partnerships among risk-averse professionals endowed with (i) a risky and
personally-costly production technology and (ii) a personally-costly monitoring technology …

The ability of four instruments within the general class of exogenous targeting instruments,
proposed by Segerson [Journal of Environmental Economic Management 15 (1988) 87], to …

Cover--Half-title page--Title page--Copyright page--Dedication--Epigraph--Contents--List of
Figures--Preface--Part I Setting the Stage--1 The Puzzling Asymmetry--Part II Perfection and …

Wealthy individuals-business angels who invest a share of their net worth in entrepreneurial
ventures-form an essential part of an informal venture capital market that can secure funding …

The consequences of ambiguity for partnerships are addressed. Partnerships with
symmetric linear production functions are analysed in a Choquet Expected Utility (CEU) …

Conventional wisdom regarding nonprofit firms is that the absence of a profit motive renders
them inefficient. However, the costs and product quality realized by profit‐taking firms is …