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Firm boundaries and financing choices in human capital intensive firms : = Theory and evidence.

紀錄類型:	書目-語言資料,手稿 : Monograph/item
正題名/作者:	Firm boundaries and financing choices in human capital intensive firms :/
其他題名:	Theory and evidence.
作者:	Subramanian, Krishnamurthy.
面頁冊數:	1 online resource (150 pages)
附註:	Source: Dissertations Abstracts International, Volume: 67-06, Section: A.
Contained By:	Dissertations Abstracts International67-06A.
標題:	Finance. -
電子資源:	click for full text (PQDT)
ISBN:	9780542215322

Firm boundaries and financing choices in human capital intensive firms : = Theory and evidence.
Subramanian, Krishnamurthy.

Firm boundaries and financing choices in human capital intensive firms :Theory and evidence. - 1 online resource (150 pages)

Source: Dissertations Abstracts International, Volume: 67-06, Section: A.

Thesis (Ph.D.)--The University of Chicago, 2005.

Includes bibliographical references

This dissertation develops a theory of firm boundaries and financing choices in human capital intensive firms. I argue that when contracts are incomplete, power over intangible assets like knowledge and ideas accrues from having access to the asset and owning the rights to use this asset. Access has a symmetric effect on incentives of two agents in a relationship while ownership has an asymmetric one. Hence, choosing both access and ownership optimally maximizes incentives to make specific investments. Chapter 1 applies the theory to predict the optimal firm boundaries as a function of the ease of replicating knowledge. The boundary choices analyzed are mergers/acquisitions, joint ventures, strategic alliances and arms length contracts. Chapter 2 predicts the optimal financing choice as a function of ease of stealing ideas and the nature of assets required for developing the idea. The financing choices examined are independent venture capital, corporate venture capital and a firm's internal capital markets.

Electronic reproduction.
Ann Arbor, Mich. :
ProQuest,
2024

Mode of access: World Wide Web

ISBN: 9780542215322Subjects--Topical Terms:

559073
Finance.
Subjects--Index Terms:

FinancingIndex Terms--Genre/Form:

554714
Electronic books.

Firm boundaries and financing choices in human capital intensive firms : = Theory and evidence.
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502 $a Thesis (Ph.D.)--The University of Chicago, 2005.
504 $a Includes bibliographical references
520 $a This dissertation develops a theory of firm boundaries and financing choices in human capital intensive firms. I argue that when contracts are incomplete, power over intangible assets like knowledge and ideas accrues from having access to the asset and owning the rights to use this asset. Access has a symmetric effect on incentives of two agents in a relationship while ownership has an asymmetric one. Hence, choosing both access and ownership optimally maximizes incentives to make specific investments. Chapter 1 applies the theory to predict the optimal firm boundaries as a function of the ease of replicating knowledge. The boundary choices analyzed are mergers/acquisitions, joint ventures, strategic alliances and arms length contracts. Chapter 2 predicts the optimal financing choice as a function of ease of stealing ideas and the nature of assets required for developing the idea. The financing choices examined are independent venture capital, corporate venture capital and a firm's internal capital markets.
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538 $a Mode of access: World Wide Web
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653 $a Human capital
653 $a Ownership
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