Ownership, Organization, and Private Firms' Efficient Use of Resources

Ownership, Organization, and Private Firms' Efficient Use of Resources

The principal--agent theory asserts that public firms' performance is driven by efficient capital and labor markets but is silent about non-listed private companies, which are less permeable to market forces (both capital and labor) than are public companies. We propose and test a 2 × 2 framewo...

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Veröffentlicht in:Strategic Management Journal. - John Wiley & Sons. - 24(2003), 7, Seite 667-675
1. Verfasser: Durand, Rodolphe (VerfasserIn)
Weitere Verfasser: Vargas, Vicente
Format: Online-Aufsatz
Sprache:English
Veröffentlicht: 2003
Zugriff auf das übergeordnete Werk:Strategic Management Journal
Schlagworte:private firms productive efficiency agency theory data envelopment analysis (DEA) Business Economics Philosophy Applied sciences Behavioral sciences
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520 |a The principal--agent theory asserts that public firms' performance is driven by efficient capital and labor markets but is silent about non-listed private companies, which are less permeable to market forces (both capital and labor) than are public companies. We propose and test a 2 × 2 framework distinguishing owner-controlled vs. agent-led firms from firms with a flat vs. multilayer organization. Our findings provide highly contrasted results and raise important issues for further study of private firms. 
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