A Property Rights Analysis of Newly Private Firms: Opportunities for Owners to Appropriate Rents and Partition Residual Risks
A key factor in the decision to convert a publicly owned company to private status is the expectation that value will be created, providing the firm with rent. These rents have implications regarding the property rights of the firm’s capital-contributing constituencies. We identify and analyze the t...
| Authors: | ; |
|---|---|
| Format: | Electronic Article |
| Language: | English |
| Check availability: | HBZ Gateway |
| Journals Online & Print: | Drawer...
|
| Fernleihe: | Fernleihe für die Fachinformationsdienste |
| Published: |
Cambridge Univ. Press
2011
|
| In: |
Business ethics quarterly
Year: 2011, Volume: 21, Issue: 3, Pages: 445-471 |
| Online Access: |
Volltext (JSTOR) Volltext (lizenzpflichtig) Volltext (lizenzpflichtig) |
MARC
| LEADER | 00000naa a22000002 4500 | ||
|---|---|---|---|
| 001 | 1824199422 | ||
| 003 | DE-627 | ||
| 005 | 20221202052651.0 | ||
| 007 | cr uuu---uuuuu | ||
| 008 | 221202s2011 xx |||||o 00| ||eng c | ||
| 024 | 7 | |a 10.5840/beq201121326 |2 doi | |
| 035 | |a (DE-627)1824199422 | ||
| 035 | |a (DE-599)KXP1824199422 | ||
| 040 | |a DE-627 |b ger |c DE-627 |e rda | ||
| 041 | |a eng | ||
| 084 | |a 1 |2 ssgn | ||
| 100 | 1 | |a Schneider, Marguerite |e VerfasserIn |4 aut | |
| 245 | 1 | 2 | |a A Property Rights Analysis of Newly Private Firms: Opportunities for Owners to Appropriate Rents and Partition Residual Risks |
| 264 | 1 | |c 2011 | |
| 336 | |a Text |b txt |2 rdacontent | ||
| 337 | |a Computermedien |b c |2 rdamedia | ||
| 338 | |a Online-Ressource |b cr |2 rdacarrier | ||
| 520 | |a A key factor in the decision to convert a publicly owned company to private status is the expectation that value will be created, providing the firm with rent. These rents have implications regarding the property rights of the firm’s capital-contributing constituencies. We identify and analyze the types of rent associated with the newly private firm. Compared to public firms, going private allows owners the potential to partition part of the residual risk to bond holders and employees, rendering them to be co-residual risk bearers with owners. We propose that new promotion-based contracts with bond holders and employees, reflecting their particular investments, be negotiated as the firm migrates from public to private status. These contracts should acknowledge the firm’s intent to maximize shareholder value and its need to take the risks necessary to do so, but support that the firm’s survival not be undermined due to its possibly opportunistic owners. | ||
| 700 | 1 | |a Valenti, Alix |e VerfasserIn |4 aut | |
| 773 | 0 | 8 | |i Enthalten in |t Business ethics quarterly |d Cambridge : Cambridge Univ. Press, 1991 |g 21(2011), 3, Seite 445-471 |w (DE-627)341900230 |w (DE-600)2069764-8 |w (DE-576)273911066 |x 2153-3326 |7 nnns |
| 773 | 1 | 8 | |g volume:21 |g year:2011 |g number:3 |g pages:445-471 |
| 856 | |3 Volltext |u http://www.jstor.org/stable/41304440 |x JSTOR | ||
| 856 | 4 | 0 | |u https://doi.org/10.5840/beq201121326 |x Resolving-System |z lizenzpflichtig |3 Volltext |
| 856 | 4 | 0 | |u https://www.cambridge.org/core/journals/business-ethics-quarterly/article/property-rights-analysis-of-newly-private-firms-opportunities-for-owners-to-appropriate-rents-and-partition-residual-risks/D02E6AF9267AD9A61AC620345D4349E0 |x Verlag |z lizenzpflichtig |3 Volltext |
| 935 | |a mteo | ||
| 951 | |a AR | ||
| ELC | |a 1 | ||
| ITA | |a 1 |t 1 | ||
| LOK | |0 000 xxxxxcx a22 zn 4500 | ||
| LOK | |0 001 4223017608 | ||
| LOK | |0 003 DE-627 | ||
| LOK | |0 004 1824199422 | ||
| LOK | |0 005 20221202052651 | ||
| LOK | |0 008 221202||||||||||||||||ger||||||| | ||
| LOK | |0 035 |a (DE-Tue135)IxTheo#2022-11-29#A201FD8AD41C424EE3726FC551824F30A23B715D | ||
| LOK | |0 040 |a DE-Tue135 |c DE-627 |d DE-Tue135 | ||
| LOK | |0 092 |o n | ||
| LOK | |0 852 |a DE-Tue135 | ||
| LOK | |0 852 1 |9 00 | ||
| LOK | |0 866 |x JSTOR#http://www.jstor.org/stable/41304440 | ||
| LOK | |0 935 |a ixzs |a ixrk |a zota | ||
| ORI | |a SA-MARC-ixtheoa001.raw | ||