| 来源类型 | Discussion paper |
| 规范类型 | 论文 |
| 来源ID | DP1370 |
| DP1370 A Macro-Theoretic Model of the Chinese Economy | |
| Huw David Dixon | |
| 发表日期 | 1996-05-31 |
| 出版年 | 1996 |
| 语种 | 英语 |
| 摘要 | The paper shows that an increase in competition has two effects on managerial incentives: it increases the probability of liquidation, which has a positive effect on managerial effort, but it also reduces the firm?s profits, which may make it less attractive to induce high effort. Thus, the total effect is ambiguous. The paper identifies natural circumstances where increased competition unambiguously reduces managerial slack. In general, however, this relation need not be monotonic. A simple example demonstrates that ? starting from a monopoly ? managerial effort may increase as additional competitors enter the market, but will eventually decrease when competition becomes too intense. |
| 主题 | Industrial Organization |
| 关键词 | Competition Managerial incentives Moral hazard |
| URL | https://cepr.org/publications/dp1370 |
| 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/530529 |
| 推荐引用方式 GB/T 7714 | Huw David Dixon. DP1370 A Macro-Theoretic Model of the Chinese Economy. 1996. |
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