Corporate governance and contractual governance: A model

Arbeitspapier

In this paper we propose a formalised model which describes the trade-off problems faced by a firm desiring to create a structure of governance that deals both with the problems of supervising the work of its managers (corporate governance) and with the transactional problems arising from its contractual relations with other stakeholders, in particular suppliers and clients (contractual governance). The public company and the business group stylise two alternative solutions to this problem. Our model recognises the fact that there may be different mechanisms of governance in different industries, historical periods or countries, and that these may be modified as a result of technological shocks, changes in the rate of growth in demand, or innovations introduced by some companies in the production chain.

Object Details

• Language: Englisch

References and Relationships

• Bibliographic citation: Series: Nota di Lavoro ; No. 60.1997

Classification and Topics

• Classification: Wirtschaft ; Financing Policy; Financial Risk and Risk Management; Capital and Ownership Structure; Value of Firms; Goodwill ; Organizational Behavior; Transaction Costs; Property Rights
• Subject: Business groups ; Public company ; Relationship Specific investment ; Agency

Contributors, Places and Time

• Event: Geistige Schöpfung
• (who): Guelpa, Fabrizio
• Event: Veröffentlichung
• (who): Fondazione Eni Enrico Mattei (FEEM)
• (where): Milano
• (when): 1997

Further information

• Handle: http://hdl.handle.net/10419/154823
• Last update: 10.03.2025, 11:43 AM CET