Entrepreneurship and the Division of Ownership in New Ventures

Publikationstyp: Zeitschriftenartikel
Autor/innen: Demougin, Dominique; Fabel, Oliver
Erscheinungsjahr: 2007
Erschienen in: Publ. in: Journal of Economics and Management Strategy ; 16 (2007), 1. - S. 111-128. - ISSN 1058-6407. - eISSN 1530-9134
DOI (zitierfähiger Link): https://dx.doi.org/10.1111/j.1530-9134.2006.00134.x
Zusammenfassung:
The current study investigates a tripartite incentive contract between an innovator supplying an intellectual asset, a professional assigned to productive tasks, and a consulting firm specializing in matching ideas and professional skills. A rather simple pure tripartite partnership implements the consultant's expected profit maximum and maximizes the project's expected surplus. The liquidity-constrained professional is compensated by receiving a share of one half in the new venture. The consultant's and the innovator's shares reflect the relative value of search. However, the consultant's optimal search effort to find an appropriate production partner is inefficiently low.
Fachgebiet (DDC): 330 Wirtschaft
Link zur Lizenz: Deposit-Lizenz

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DEMOUGIN, Dominique, Oliver FABEL, 2007. Entrepreneurship and the Division of Ownership in New Ventures. In: Publ. in: Journal of Economics and Management Strategy. 16(1), pp. 111-128. ISSN 1058-6407. eISSN 1530-9134

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