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Competition, Long Run Contracts, and Internal Inefficiencies in Firms
Stockholm University, Faculty of Social Sciences, Institute for International Economic Studies.
Stockholm University, Faculty of Social Sciences, Institute for International Economic Studies.
Stockholm University, Faculty of Social Sciences, Institute for International Economic Studies.
1991 (English)Report (Other academic)
Abstract [en]

Internal reward structures in firms are often integral parts of their "culture", and are changed infrequently in comparision to decisions about e.g., output prices. This paper investigates how this feature of firm organization provides a mechanism through which product market competition affects firm's internal efficiency. The design of firms' internal organization is modeled as a choice of an incentive structure between a principal and an agent, with strategic implications for firm's competitive positions on the product market. It is shown that - contrary to popular beliefs - there is a negative relation between the competitiveness of the product market and effort incentives.

Place, publisher, year, edition, pages
Stockholm: IIES , 1991. , 45 p.
Series
Seminar Paper / Institute for International Economic Studies, Stockholm University, ISSN 0347-8769 ; 506
Keyword [en]
firm organization, competition, incentive contracts
National Category
Economics
Identifiers
URN: urn:nbn:se:su:diva-41816OAI: oai:DiVA.org:su-41816DiVA: diva2:337820
Available from: 2010-08-09 Created: 2010-08-09 Last updated: 2010-08-09Bibliographically approved

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CiteExportLink to record
Permanent link

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Citation style
  • apa
  • ieee
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  • vancouver
  • Other style
More styles
Language
  • de-DE
  • en-GB
  • en-US
  • fi-FI
  • nn-NO
  • nn-NB
  • sv-SE
  • Other locale
More languages
Output format
  • html
  • text
  • asciidoc
  • rtf