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ABSTRACT The seminal work by Antràs and Chor in 2013 predicted that, under incomplete-contracting environments, the optimal allocation of residual claim for firms participating in global production depends on the… Click to show full abstract
ABSTRACT The seminal work by Antràs and Chor in 2013 predicted that, under incomplete-contracting environments, the optimal allocation of residual claim for firms participating in global production depends on the relative position at which the supplier enters the sequential production and on the demand elasticity faced by the final-good producer. Using data of Japanese value-added exports, this study empirically verifies this theoretical prediction through supportive evidence.
Keywords:
value;
evidence;
allocation residual;
incomplete contracts;
residual claim
Journal Title: Applied Economics Letters
Year Published: 2019
Link to full text (if available)
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Journal Title: Applied Economics Letters
Year Published: 2019
Link to full text (if available)
Share on Social Media: Sign Up to like & get
recommendations!