Partnership firms, reputation and human capital
In human capital intensive industries where it is difficult to contract upon the training effort of skilled agents a socially suboptimal level of training may occur. We show how partnership organisations can overcome this problem by tying human and financial capital. Partnerships are opaque so that...
| Główni autorzy: | , |
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| Format: | Working paper |
| Wydane: |
University of Oxford
2003
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