Detail Sequential Investment and Options to Own   Oleh:  Noeldeke, Georg ; Schmidt, Klaus Jenis: Article from Bulletin/Magazine Dalam koleksi: The Rand Journal of Economics vol. 29 no. 4 (1998), page 633-653. Topik: investment; investment; options to own Ketersediaan Perpustakaan Pusat (Semanggi) Nomor Panggil: RR10.2 Non-tandon: 1 (dapat dipinjam: 0) Tandon: tidak ada     Lihat Detail Induk Isi artikel Contingent ownership structures are prevalent in joint ventures. We offer an explanation based on the investment incentives provided by such an arrangement. We consider a holdup problem in which two parties make relationship - specific investments sequentially to generate a joint surplus in the future. In our model, the following ownership structure implements first - best investments : one party owns the firm initially, while the other party has the option to buy the firm at a set price at a later date. This result is robust to the possibility of renegotiation and uncertainty. Opini Anda Klik untuk menuliskan opini Anda tentang koleksi ini! Kembali

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