Corporate Law and Corporate Governance
Property Rights and the Nature of the Firm
Oliver Hart and John Moore
- Year
- 1990
- Venue
- Journal of Political Economy
- Level
- Advanced
Summary
Extends the incomplete-contracts approach to firm boundaries by focusing on residual rights of control over assets. The paper shows how ownership can shape ex ante investment incentives and the allocation of authority inside and across firms.
Citation
Oliver Hart and John Moore. "Property Rights and the Nature of the Firm." Journal of Political Economy, 1990.
DOI: 10.1086/261729
BibTeX
@article{Hart1990Property,
title = {Property Rights and the Nature of the Firm},
author = {Oliver Hart and John Moore},
year = {1990},
journal = {Journal of Political Economy},
doi = {10.1086/261729},
url = {https://doi.org/10.1086/261729}
}