Managerial E ¤ ort , Agency , and Industrial Evolution Esra

  • Esra Durceylany
  • Published 2007


This paper develops and estimates an industrial evolution model with endogenous managerial e¤ort. Two versions of the model are considered: one in which ownership is separated from management (the agency model), and one in which managers are also owners (the proprietorship model). In the agency model, owners o¤er contracts to managers that elicit pro…t… (More)


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@inproceedings{Durceylany2007ManagerialE, title={Managerial E ¤ ort , Agency , and Industrial Evolution Esra}, author={Esra Durceylany}, year={2007} }