Showing papers by "Ingo Vogelsang published in 1983"
TL;DR: In this paper, the authors show that two incentive schemes, Tam's and Finsinger and Vogelsang's, can also help to induce managers to provide an optimal level of effort.
19 citations
01 Jan 1983
TL;DR: In the German institutional economic literature firms with the attribute "gemeinwirtschaftlich" have played a major role over the past hundred years as discussed by the authors and are called public interest firms (PIFs).
Abstract: In the German institutional economic literature firms with the attribute ‘gemeinwirtschaftlich’ have played a major role over the past hundred years. The term ‘gemeinwirtschaftlich’ has no obvious English translation and no unique meaning in German (for a discussion in English see Landauer, 1976). Today there is some agreement among authors that in order to earn this attribute firms have to pursue a public interest besides benefiting their shareholders. In this chapter they are called public interest firms (PIFs). Public enterprises, humanitarian institutions like the Red Cross, non-profit hospitals or homes for the aged are quite unanimously considered as PIFs in the literature. The most discussed borderline case concerns consumer and producer cooperatives. Their status as PIFs is doubtful because they are meant to serve their members’ interest. The group most noisy about their status as PIFs are also a borderline case. They are the enterprises belonging to the German trade unions. Among others, trade unions control the largest German housing firm Neue Heimat (NH), the second largest life insurance company Volksfursorge (VF), the sizeable Bank fur Gemeinwirtschaft (BfG) and the largest consumer cooperative Coop Zentrale AG (Coop).
2 citations