This paper demonstrates that an increase in bargaining power of Northern firms relative to that of their Southern contractors can trigger reshoring if the North- South wage differential is moderate, such that only ind...This paper demonstrates that an increase in bargaining power of Northern firms relative to that of their Southern contractors can trigger reshoring if the North- South wage differential is moderate, such that only industries with a high share of unskilled labor find outsourcing profitable. However, such an increase in Northern bargaining power can increase offshoring if the wage differential is so high that even industries with a low share of unskilled labor also offshore.展开更多
Incomplete contract theory （GHM-model）, namely, GHM model, Grossman-Hart-Moore model, GHM model or called ownership - control model by Grossman and Hart （Grossman ＆ Hart, 1986）, it is established by Hart and Moo...Incomplete contract theory （GHM-model）, namely, GHM model, Grossman-Hart-Moore model, GHM model or called ownership - control model by Grossman and Hart （Grossman ＆ Hart, 1986）, it is established by Hart and Moore （Hart ＆ Moore, 1990） and other cofounder, so this theory is also known as GHM theory or GHM model. Domestic scholars generally call their theory incomplete contract theory or incomplete contract theory, because the theory is ba^ed on the following analytical framework： They use the incompleteness of contracts for research as starting point to property or （ residual ） optimal control with Ge for research purposes. It is the most important analytical tool for analyze business theory and corporate governance structures with Ge control incentives to obtain the information. GHM model directly inherit the transaction cost theory by Coase, and Williamson, and it is a critical development. Among them, the 1986 model is mainly to solve the integration problem of assets, in 1990, the model evolved into a general model of asset ownership.展开更多
A thorough investigation was carried out to the pond resources of a county, and Grossman-Hart-Moore （GHM） incomplete contract theory was used to do the economic analysis on the idle pond resources. The result indica...A thorough investigation was carried out to the pond resources of a county, and Grossman-Hart-Moore （GHM） incomplete contract theory was used to do the economic analysis on the idle pond resources. The result indicated that with the deepening of market-oriented economy, the human asset specificity under the incomplete contract had distorted the investment incentives to the governance of ponds that corresponding policies were required to govern the idle ponds.展开更多
文摘This paper demonstrates that an increase in bargaining power of Northern firms relative to that of their Southern contractors can trigger reshoring if the North- South wage differential is moderate, such that only industries with a high share of unskilled labor find outsourcing profitable. However, such an increase in Northern bargaining power can increase offshoring if the wage differential is so high that even industries with a low share of unskilled labor also offshore.
文摘Incomplete contract theory （GHM-model）, namely, GHM model, Grossman-Hart-Moore model, GHM model or called ownership - control model by Grossman and Hart （Grossman ＆ Hart, 1986）, it is established by Hart and Moore （Hart ＆ Moore, 1990） and other cofounder, so this theory is also known as GHM theory or GHM model. Domestic scholars generally call their theory incomplete contract theory or incomplete contract theory, because the theory is ba^ed on the following analytical framework： They use the incompleteness of contracts for research as starting point to property or （ residual ） optimal control with Ge for research purposes. It is the most important analytical tool for analyze business theory and corporate governance structures with Ge control incentives to obtain the information. GHM model directly inherit the transaction cost theory by Coase, and Williamson, and it is a critical development. Among them, the 1986 model is mainly to solve the integration problem of assets, in 1990, the model evolved into a general model of asset ownership.
基金Supported by the Key Interdisciplinary Studies on "Resources,Environment and Recycling Economy" of Beijing,China (033000541212002)~~
文摘A thorough investigation was carried out to the pond resources of a county, and Grossman-Hart-Moore （GHM） incomplete contract theory was used to do the economic analysis on the idle pond resources. The result indicated that with the deepening of market-oriented economy, the human asset specificity under the incomplete contract had distorted the investment incentives to the governance of ponds that corresponding policies were required to govern the idle ponds.
