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The Origin of the Capitalist Firm

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The book addresses the entrepreneurial origin of the capitalist firm and its asymmetric contractual relationships between capitalists, workers, managers and entrepreneurs, and explains the origin of the firm by focusing on entrepreneurship. A hidden action model shows how assigning residual claim to entrepreneurs can provide a better overall incentive; a hidden information model demonstrates that capitalists are given priority and have authority to select the management, because capital can signal entrepreneurial ability; and a general equilibrium entrepreneurial model shows that the equilibrium relationships between different members of the firm depend on the joint distribution of ability, wealth and risk attitudes in the population. Overall, the book reveals that the capitalist firm is more efficient, not only because it provides better incentives but also because it ensures that the most entrepreneurial people control the firm.

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Availability

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Detail Information

Series Title

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Call Number

653

Publisher

Singapore : Springer Singapore., 2018

Collation

Business Management

Language

English

ISBN/ISSN

978-981-10-0221-2

Classification

NONE

Content Type

text

Media Type

computer

Carrier Type

online resource

Edition

1

Subject(s)

Industrial Organization
Corporate Governance
Entrepreneurship,

Specific Detail Info

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Statement of Responsibility

Zhang, Weiying

Other Information

Cataloger

Suwardi

Source

https://link.springer.com/book/10.1007/978-981-10-0221-2

Validator

Maya

Digital Object Identifier (DOI)

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Journal Volume

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Journal Issue

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Subtitle

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Parallel Title

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