A team production theory of corporate law

Article Abstract:

The authors contend that public corporations are best understood as a nexus of assets invested by shareholders, managers, and employees who wish to profit from the group enterprise. The 'team production' model of corporations, unlike the prevailing 'principal-agent' model, supports the theory that that corporate law does not require the board of directors to maximize shareholder wealth at the expense of the other stakeholders.

Management, Work groups, Teamwork (Workplace)

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Team production in venture capital investing

Article Abstract:

Venture capital contracts are analyzed using the 'team production' economic model. The use of staged financing by entrepreneurs and venture capital firms is discussed as a means of encouraging team production, with emphasis on an account of how Silicon Valley entrepreneurs and venture capitalists used this approach to build a company.

Laws, regulations and rules, Venture capital companies

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Trust and team production in a post-capitalist society

Article Abstract:

Issues involving the importance of trust between employees and managers of corporations are discussed. The author argues that the prevailing theory of economic self-interest does not account for the costs arising for a lack of cooperation among team members.

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