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Cited by 9,352

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 access
Grossman, Sanford J., Hart, Oliver D.·1986·Journal of Political Economy
DOI 10.1086/261404
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Abstract

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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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
DOI
10.1086/261404
OpenAlex
W2117455041
Cited by
9,352
References
2
FWCI
95.40
Type
journal article
Language
en
Open access
green

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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.