Arbeitspapier

Takeovers and Cooperatives

If consumers wholly or partially control a firm with market power they will charge less than the profit maximising price. Starting at the usual monopoly price, a small price reduction will have a second order effect on profits but a first order effect on consumer surplus. Despite this desirable static result, it has been argued that cooperatives are vulnerable to take-over by outsiders who will run them as for-profit businesses. This paper studies takeovers of cooperatives. We argue that cooperatives are in fact quite stable due to the Grossman-Hart problem of free riding during takeovers.

Sprache
Englisch

Erschienen in
Series: Queen's Economics Department Working Paper ; No. 1113

Klassifikation
Wirtschaft
Analysis of Collective Decision-Making: General
Firm Objectives, Organization, and Behavior: General
Thema
corporate governance
co-operative
take-over
free-rider
Corporate Governance
Übernahme
Unternehmenskooperation
Trittbrettfahrerverhalten
Externer Effekt
Theorie

Ereignis
Geistige Schöpfung
(wer)
Milne, Frank
Kelsey, David
Ereignis
Veröffentlichung
(wer)
Queen's University, Department of Economics
(wo)
Kingston (Ontario)
(wann)
2006

Handle
Letzte Aktualisierung
10.03.2025, 11:43 MEZ

Datenpartner

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Objekttyp

  • Arbeitspapier

Beteiligte

  • Milne, Frank
  • Kelsey, David
  • Queen's University, Department of Economics

Entstanden

  • 2006

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