CAPITALISTS AND WORKERS - KNOWLEDGE AND THE STRATEGIC ROLE OF INVESTMENT WITHIN THE FIRM

被引：2
|
作者：
STEWART, G
机构：
[1] University of Southampton, Southampton
来源：
EUROPEAN ECONOMIC REVIEW | 1994年 / 38卷 / 09期
关键词：
CAPITALIST; ENTREPRENEUR; KNOWLEDGE; STRATEGIC INVESTMENT;
D O I：
10.1016/0014-2921(94)90050-7
中图分类号：
F [经济];
学科分类号：
02 ;
摘要：
Does the ownership of capital confer a strategic advantage within the firm? The formation of a firm frequently represents an attempt by an individual to secure a return on knowledge, and we demonstrate that, in this context, there can be an incentive to precommit capital before contracting with other members of the firm - that is, to be the 'capitalist'. Results are also obtained on the investment level and wage rate. The key ingredient of the model is emergence of a product market entry threat from within the firm. This contrasts with the anonymous external potential entrant prevalent in the literature.
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页码：1779 / 1797
页数：19
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