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On the Future of Co-Operatives
George W.J Hendrikse
Cees P. Veerman
出版
SSRN
, 2013
URL
http://books.google.com.hk/books?id=6iLhzwEACAAJ&hl=&source=gbs_api
註釋
Two extensions are formulated of the analysis of the allocation of decision rights in Hendrikse and Veerman (2001). First, the incomplete contracts in their article can be viewed as simple long-term contracts, i.e. it is not allowed to make the allocation of authority contingent on the circumstances. Contingent long-term contracts are now considered. Second, another aspect of decision rights is the frequency of meetings between the owners and managers of enterprises. This aspect will be addressed from a long-term contract perspective as well as a loss aversion perspective.
