Publication detail

Arithmetics of Property Rights: A Leontief-type Model of Ownership Structures

Author(s): † prof. RNDr. Ing. František Turnovec CSc.,
Type: Articles in refereed journals
Year: 2005
Number: 22
ISSN / ISBN: ISSN 0943-0180
Published in: Homo Oeconomicus, 22, 2005, No. 3, 371-380
Publishing place: Munchen
Keywords: Corporate governance, Leontief input-output model, ownership structure, primary owners, principal-agent problem, secondary owners
JEL codes: C60, L33, K11
Suggested Citation: Turnovec F. (2005), Arithmetics of Property Rights: A Leontief-type of Ownership Structures, 22, No. 3, 371-380
Grants: IES Research Framework Institutional task (2005-2011) Integration of the Czech economy into European union and its development
Abstract: A simple algebraic model of a property structure leading to the Leontief-type input-output scheme is developed and used to eliminate indirect ownership relations and evaluate the final distribution of national property among individual owners. Concepts of "family capitalism" and "capitalism of agents" type of corporate governance are defined and compared. Implications of different designs of corporate governance for general equilibrium theory, profit distribution and decision making are discussed.
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