The DOI matches its Crossref record; 1 of the 1 references it cites were found in a registry or an index.
O rganizational P rospects, I nfluence C osts, and O wnership C hanges
Abstract
We augment efficiency‐based theories of ownership by including influence costs. Our principal conclusion is that the prospect of organizational decline and layoffs creates additional influence costs in multiunit organizations that would be absent if there was no prospect of layoffs and would be lessened or eliminated in focused organizations. This helps explain the tendency of firms to divest poorly performing units, as well as the pattern of sales of such units to firms already in businesses related to that of the divested unit.
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Citations
Cites
Credit Rationing in Markets with Imperfect Information
Stiglitz, J. E., & Weiss, A. (1981) · Columbia University · doi:10.7916/d8v12ft1 · Cited by 12,769
Cited by
The Provision of Incentives in Firms
Prendergast, C. (1999) · Journal of Economic Literature · doi:10.1257/jel.37.1.7 · Cited by 3,338
Global Diversification, Industrial Diversification, and Firm Value
Denis, D. J., Denis, D. K., & Yost, K. (2002) · The Journal of Finance · doi:10.1111/0022-1082.00485 · Cited by 1,049
Esteban, J., & Ray, D. (1999) · Journal of Economic Theory · doi:10.1006/jeth.1999.2549 · Cited by 553
Metadata
- Authors
- Meyer, M., Milgrom, P., & Roberts, J.
- Venue
- Journal of Economics & Management Strategy
- Publisher
- Wiley
- Published
- 1992-03
- Volume
- 1
- Issue
- 1
- Pages
- 9-35
- ISSN
- 1058-6407 (ISSN-L)
- 1530-9134
- OpenAlex
- W2021791306
- Cited by
- 485
- References
- 1
- FWCI
- 29.74
- Type
- journal article
- Language
- en
- Open access
- closed
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- CoChat. (2026). Citation check: O rganizational P rospects, I nfluence C osts, and O wnership C hanges. https://app.cochat.ai/papers/10.1111/j.1430-9134.1992.00009.x
- The paper
- Meyer, M., Milgrom, P., & Roberts, J. (1992). O rganizational P rospects, I nfluence C osts, and O wnership C hanges. Journal of Economics & Management Strategy. https://doi.org/10.1111/j.1430-9134.1992.00009.x
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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.
