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Article: Bargaining, bonding, and partial ownership
Title | Bargaining, bonding, and partial ownership |
---|---|
Authors | |
Keywords | Specific investment General investment Bargaining Contracts Partial ownership |
Issue Date | 2000 |
Publisher | Wiley-Blackwell Publishing, Inc.. The Journal's web site is located at http://www.wiley.com/bw/journal.asp?ref=0020-6598 |
Citation | International Economic Review, 2000, v. 41 n. 3, p. 609-635 How to Cite? |
Abstract | This article provides a theory of interfirm partial ownership. We consider a setting in which an upstream firm can make two alternative types of investment: either specific investment that only a particular downstream firm can use or general investment that any downstream firm is capable of using. When the benefits from specific and general investments are both stochastic, equity participation by the downstream firm in the upstream firm can lead to more efficient outcomes than take-or-pay contracts. The optimal ownership stake of the downstream firm is less than 50 percent under a natural assumption about relative bargaining power. |
Persistent Identifier | http://hdl.handle.net/10722/85770 |
ISSN | 2023 Impact Factor: 1.5 2023 SCImago Journal Rankings: 2.350 |
ISI Accession Number ID | |
References |
DC Field | Value | Language |
---|---|---|
dc.contributor.author | Dasgupta, S | en_HK |
dc.contributor.author | Tao, Z | en_HK |
dc.date.accessioned | 2010-09-06T09:09:03Z | - |
dc.date.available | 2010-09-06T09:09:03Z | - |
dc.date.issued | 2000 | en_HK |
dc.identifier.citation | International Economic Review, 2000, v. 41 n. 3, p. 609-635 | en_HK |
dc.identifier.issn | 0020-6598 | en_HK |
dc.identifier.uri | http://hdl.handle.net/10722/85770 | - |
dc.description.abstract | This article provides a theory of interfirm partial ownership. We consider a setting in which an upstream firm can make two alternative types of investment: either specific investment that only a particular downstream firm can use or general investment that any downstream firm is capable of using. When the benefits from specific and general investments are both stochastic, equity participation by the downstream firm in the upstream firm can lead to more efficient outcomes than take-or-pay contracts. The optimal ownership stake of the downstream firm is less than 50 percent under a natural assumption about relative bargaining power. | en_HK |
dc.language | eng | en_HK |
dc.publisher | Wiley-Blackwell Publishing, Inc.. The Journal's web site is located at http://www.wiley.com/bw/journal.asp?ref=0020-6598 | en_HK |
dc.relation.ispartof | International Economic Review | en_HK |
dc.rights | The definitive version is available at www3.interscience.wiley.com | - |
dc.subject | Specific investment | - |
dc.subject | General investment | - |
dc.subject | Bargaining | - |
dc.subject | Contracts | - |
dc.subject | Partial ownership | - |
dc.title | Bargaining, bonding, and partial ownership | en_HK |
dc.type | Article | en_HK |
dc.identifier.openurl | http://library.hku.hk:4550/resserv?sid=HKU:IR&issn=0020-6598&volume=41&issue=3&spage=609&epage=635&date=2000&atitle=Bargaining,+bonding,+and+partial+ownership | en_HK |
dc.identifier.email | Tao, Z: ztao@hku.hk | en_HK |
dc.identifier.authority | Tao, Z=rp01097 | en_HK |
dc.description.nature | link_to_subscribed_fulltext | - |
dc.identifier.doi | 10.1111/1468-2354.00078 | - |
dc.identifier.scopus | eid_2-s2.0-0346048018 | en_HK |
dc.identifier.hkuros | 113910 | en_HK |
dc.identifier.hkuros | 58519 | - |
dc.relation.references | http://www.scopus.com/mlt/select.url?eid=2-s2.0-0346048018&selection=ref&src=s&origin=recordpage | en_HK |
dc.identifier.volume | 41 | en_HK |
dc.identifier.issue | 3 | en_HK |
dc.identifier.spage | 609 | en_HK |
dc.identifier.epage | 635 | en_HK |
dc.identifier.isi | WOS:000088334400003 | - |
dc.publisher.place | United States | en_HK |
dc.identifier.scopusauthorid | Dasgupta, S=7202154679 | en_HK |
dc.identifier.scopusauthorid | Tao, Z=7201884505 | en_HK |
dc.identifier.issnl | 0020-6598 | - |