Working paper
Partnership firms, reputation and human capital
- Abstract:
-
In human capital intensive industries where it is difficult to contract upon the training effort of skilled agents a socially suboptimal level of training may occur. We show how partnership organisations can overcome this problem by tying human and financial capital. Partnerships are opaque so that the willingness of clients to pay depends upon reputation. Partnerships are illiquid and partners must stay with the firm until clients discover their type and update the firm's reputation. This re...
Expand abstract
- Publication status:
- Published
Actions
Authors
Bibliographic Details
- Publisher:
- University of Oxford Publisher's website
- Series:
- Department of Economics Discussion Paper Series
- Publication date:
- 2003-01-01
- Paper number:
- 2003-FE-02
Item Description
- Keywords:
- Pubs id:
-
1144290
- Local pid:
- pubs:1144290
- Deposit date:
- 2020-12-15
Terms of use
- Copyright date:
- 2003
- Rights statement:
- Copyright 2003 The Author(s)
Metrics
If you are the owner of this record, you can report an update to it here: Report update to this record