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来源类型 | Discussion paper |
规范类型 | 论文 |
来源ID | DP665 |
DP665 Organizational Prospects, Influence Costs, and Ownership Changes | |
Margaret Meyer; Paul Milgrom | |
发表日期 | 1992-06-30 |
出版年 | 1992 |
语种 | 英语 |
摘要 | We augment efficiency-based theories of ownership by including influence costs. Our principal conclusion is that the prospect of organizational decline and layoffs creates additional influence costs in multi-unit organizations that would be absent if there were no prospect of layoffs and would be lessened or eliminated in focused organizations. This helps explain the tendency of firms to divest poorly performing units, as well as the pattern of sales of such units to firms already in businesses related to that of the divested unit. |
关键词 | Acquisitions and mergers Divestitures Firm boundaries Influence costs Ownership Politics |
URL | https://cepr.org/publications/dp665 |
来源智库 | Centre for Economic Policy Research (United Kingdom) |
资源类型 | 智库出版物 |
条目标识符 | http://119.78.100.153/handle/2XGU8XDN/529824 |
推荐引用方式 GB/T 7714 | Margaret Meyer,Paul Milgrom. DP665 Organizational Prospects, Influence Costs, and Ownership Changes. 1992. |
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