Residual Control Rights, Transferable Returns, and Their Implications for Ownership Structure
Meri Melkonyan
Prince George’s Community College, Largo, USA.
DOI: 10.4236/me.2013.45039   PDF    HTML     3,385 Downloads   5,146 Views   Citations

Abstract

The paper examines the consolidation problem in a model characterized by non-contractible, relationship specific investments, transferable and non-transferable payoffs, and ex post actions that are chosen after the uncertainty in the model is realized. We determine the relationship between the optimal ownership structure and the nature of the relationship specific investments and ex post actions and the degree to which payoffs are transferable with ownership.

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M. Melkonyan, "Residual Control Rights, Transferable Returns, and Their Implications for Ownership Structure," Modern Economy, Vol. 4 No. 5, 2013, pp. 375-383. doi: 10.4236/me.2013.45039.

Conflicts of Interest

The authors declare no conflicts of interest.

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