STRATEGIC MANAGEMENT PROCESS

Research Taxonomy - Strategic Management process

Research Taxonomy - Strategic Management process

Classical property rights theory defines ownership as residual rights to income (residual claimancy) (Alchian and Demsetz, 1972; Demsetz, 1967) while modern property rights theory equates ownership with residual control rights (Grossman and Hart, 1986; Hart and Moore, 1990). Effectively aligning residual claims mitigates ex ante contractual problems while the appropriate allocation of residual control rights mitigates ex post contractual problems. Residual claimancy and residual control (ex ante and ex post contractual) issues are at the heart of a definition of ownership.

The strategic management research literature has begun to utilize ...