The finance literature identifies two agency problems between managers and outside shareholders. First, there is a divergence-of-interests problem as management ownership falls. Second, there is an offsetting entrenchment problem when management ownership increases within intermediate regions of ownership. Agency problems are mitigated through contracting, but contracts are often based on accou...

INTRODUCTION With changes in duty hours and supervision requirements, educators have raised concerns about erosion of patient care ownership by resident physicians. However, the definition of ownership is unclear. This qualitative study investigated definitions of ownership in medicine and psychiatry faculty and residents. METHODS The authors distributed an anonymous online survey regarding d...

This paper uses the asymmetric threshold cointegration test to examine the asymmetric relationship between household income and vehicle ownership in Taiwan, presenting estimated asymmetric error correction models. The empirical data include information on household income, car ownership and motorcycle ownership in different regions from 1974 to 2009. The results show that, first, motorcycle own...

From 1988 to 2003, the average change in managerial ownership is significantly negative every year for American firms. We find that managers are more likely to significantly decrease their ownership when their firms are performing well, but not more likely to increase their ownership when their firms have poor performance. Because investors learn about the total change in managerial ownership w...

I offer a theory of joint ownership by extending the standard property right theory of the firm to situations where parties can endogenously choose the degree of specificity of their investments (i.e., both the type of investment—specific and general—and the level of each). When specific and general investments are complements, the standard GHM results are obtained and joint ownership is subopt...

This paper examines the relationship between ownership structures and IPO long-run performance of nonSOEs in China. Although non-SOEs underperform the market in general after IPO but the poor performance is mainly caused by the IPOs with ownership control wedge. Non-SOEs with one share one vote structure outperform those with control-ownership wedge by 30% for three years post-IPO performance i...

— Despite broad acceptance of the idea that “sense of ownership” among users is critical to infrastructure sustainability in developing countries, little is known about what sense of ownership is, or its drivers. We present a novel measure of sense of ownership for piped water systems using empirical data collected from 1140 households in 50 rural Kenyan villages. This study establishes an empi...

We report on several experiments on the optimal allocation of ownership rights. The experiments confirm the property rights approach by showing that the ownership structure affects relationshipspecific investments and that subjects attain the most efficient ownership allocation despite starting from different initial conditions. However, in contrast to the property rights approach, the most eff...

We examine the relationship between the degree of foreign ownership and performance of recipient firms, using of panel of 21,582 Chinese firms over the period 2000-2005. We find that joint-ventures perform better than wholly foreign owned and purely domestic firms. Although productivity and profitability initially rise with foreign ownership, they start declining once foreign ownership reaches ...

The aim of this study was to investigate the relationship between dog and cat ownership and gastroenteritis in young children. A diary study of 965 children aged 4-6 years living in rural or semi-rural South Australia was undertaken. Data were collected on pet ownership, drinking water and other risk factors for gastroenteritis. Overall 89% of households had pets and dog ownership was more comm...