search query: @indexterm CAPM / total: 22
reference: 12 / 22
| Author: | Bughin, J. |
| Title: | Oligopoly profit-sharing contracts and the firm's systematic risk |
| Journal: | European Economic Review
1999 : MAR, VOL. 43:3, p. 549-558 |
| Index terms: | CAPM OLIGOPOLY PROFIT SHARING COMPANIES RISK ANALYSIS |
| Language: | eng |
| Abstract: | In the article, examined are the properties of wage and profit-sharing contracts in a model of oligopoly with capital market equilibrium. While profit-sharing contracts dominate market wage contracts, profit-sharing also reduces the firm's cost of equity capital under fairly broad conditions of oligopoly. The form of operational leverage both reinforces the classical effect of market power on systematic risk and the impact of profit-sharing on the corporate finance of the firm, as previously suggested by Ichino (European Economic Review 1994, 38, 1411--1422). |
SCIMA