The DOI matches its Crossref record; 2 of the 2 references it cites were found in a registry or an index.
The Costs and Benefits of Ownership: A Theory of Vertical and Lateral Integration
Open accessAbstract
Our theory of costly contracts emphasizes the contractual rights can by of two types: specific rights and residual rights. When it is costly to list all specific rights over assets in the contract, it may be optimal to let one party purchase all residual rights. Ownership is the purchase of these residual rights. When residual rights are purchased by one party, they are lost by a second party, and this inevitably creates distortions. Firm 1 purchases firm 2 when firm 1's control increases the productivity of its management more than the loss of control decreases the productivity of firm 2's management.
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Citations
Cites
Coase, R. H. (1937) · Economica · doi:10.1111/j.1468-0335.1937.tb00002.x · Cited by 23,972
Coase, R. H. (1960) · The Journal of Law and Economics · doi:10.1086/466560 · Cited by 18,255
Cited by
A Survey of Corporate Governance
Shleifer, A., & Vishny, R. W. (1997) · The Journal of Finance · doi:10.1111/j.1540-6261.1997.tb04820.x · Cited by 16,243
Comparative Economic Organization: The Analysis of Discrete Structural Alternatives
Williamson, O. E. (1991) · Administrative Science Quarterly · doi:10.2307/2393356 · Cited by 7,151
Multitask principal – agent analyses: Incentive contracts, asset ownership, and job design
Holmstrom, B., & Milgrom, P. (1991) · The Journal of Law, Economics, and Organization · doi:10.1093/jleo/7.special_issue.24 · Cited by 6,046
The separation of ownership and control in East Asian Corporations
Claessens, S., Djankov, S., & Lang, L. H. P. (2000) · Journal of Financial Economics · doi:10.1016/s0304-405x(00)00067-2 · Cited by 5,754
La Porta, R. (1999) · Journal of Law, Economics, and Organization · doi:10.1093/jleo/15.1.222 · Cited by 5,699
Metadata
- Authors
- Grossman, S. J., & Hart, O. D.
- Venue
- Journal of Political Economy
- Publisher
- University of Chicago Press
- Published
- 1986-08
- Volume
- 94
- Issue
- 4
- Pages
- 691-719
- ISSN
- 0022-3808 (ISSN-L)
- 1537-534X
- OpenAlex
- W2117455041
- Cited by
- 9,352
- References
- 2
- FWCI
- 95.40
- Type
- journal article
- Language
- en
- Open access
- green
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- Grossman, S. J., & Hart, O. D. (1986). The Costs and Benefits of Ownership: A Theory of Vertical and Lateral Integration. Journal of Political Economy. https://doi.org/10.1086/261404
Data sources
Bibliographic data: Semantic Scholar, OpenAlex, Crossref.
Contains information from the Semantic Scholar Academic Graph Datasets, made available under the ODC Attribution License (ODC-BY 1.0).
Semantic Scholar’s data is described in: Kinney, R., et al. (2023). The Semantic Scholar Open Data Platform. arXiv:2301.10140.
