Meanings of Ownership of the Firm

Simon Learmount

22 citations0/0 files storedJournal of Interdisciplinary Economics

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Corporate Finance and Governance Corporate Governance and Law Family Business Performance and Succession

Abstract

The notion of ‘ownership of the firm’ is central to conventional treatments of corporate governance, yet there is very little discussion about what this means in practice. In this paper we briefly draw attention to some of the debates around the notion of ownership in various disciplinary fields, and then recount and discuss some of the meanings associated with ownership of the firm that we have found in two empirical studies carried out in the UK and Japan. Our aim is to illuminate and disturb some of the commonly taken for granted notions of what it means to ‘own’ a firm. JEL Codes: G34, L20, L00

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1976Theory of the firm: Managerial behavior, agency costs and ownership structure 1937The Nature of the Firm 1997A Survey of Corporate Governance 1999Corporate Ownership Around the World 1980Agency Problems and the Theory of the Firm 1996Production, Information Costs and Economic Organization 1988The Constitution of Society.1933The Modern Corporation and Private Property

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