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Full-Text Articles in Business
Employee Ownership And Moral Hazard: How Broad-Based Equity Sharing Can Lower Agency Costs And Reduce Inequality, Colin Clinton Hudson
Employee Ownership And Moral Hazard: How Broad-Based Equity Sharing Can Lower Agency Costs And Reduce Inequality, Colin Clinton Hudson
Electronic Theses and Dissertations
Providing incentives to top managers by offering equity has become the norm; this practice, however, does not hold for all levels of employees. After tax incentives for employee ownership were introduced through the Employee Retirement Income Security Act of 1974, there has been little legislative support to encourage companies to implement broad-based equity sharing programs. Moreover, decades of neoliberal policies have incentivized the pursuit of short-term profits and speculation, which contribute to economic instability and explain the growing gap between productivity and real wages observed since the late 1970s. Developments in the literature contend that employee ownership aligns the goals …
Competition In Economic Theory And The Skew In U.S. Corporate Wealth Creation, Marc H. Pentacoff
Competition In Economic Theory And The Skew In U.S. Corporate Wealth Creation, Marc H. Pentacoff
Electronic Theses and Dissertations
Historical studies of U.S. capital markets show a dramatic skew in the distribution of corporate wealth. This thesis investigates the evolution of economic thought related to realistic models of competition, seeking to find the most suitable theory of competition to explain this skew in U.S. corporate wealth creation. The incorporation of realistic elements into the static theories of competition leads to theoretical difficulties in the early 20th century. Another line of thought developed non-equilibrium dynamic models of competition, culminating in Schumpeter. In Schumpeter, firms seek to manage the uncertainty f rom rapid change induced by innovation and increasing returns by …