Emerging Firms And The Allocation Of Control Rights: A Bayesian Approach
Abstract
This paper suggests that founders often use firm formation to exploit opportunities and must sometimes make organizing decisions about the allocation of control before the economic value of the opportunity can reliably be known even probabilistically. Motivated by questions surroundings such settings, we use incomplete contract theory and apply a Bayesian learning model to the allocation process of ownership control rights of founders in...
Paper Details
Title
Emerging Firms And The Allocation Of Control Rights: A Bayesian Approach
Published Date
Apr 1, 2009
Journal
Volume
34
Issue
2
Pages
209 - 227
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History