Internal capital markets, divisional rent-seeking and optimal incentives: theory and evidence

现实世界的经济组织与企业的经济理论之间存在着相当大的差距。该项目提供了多部门公司内部资源分配的正式理论和最优激励的性质，从而有助于填补这一空白。预计该项目将产生可在顶级期刊上发表的最高质量的研究成果。这将提升澳大利亚作为一个知识型国家的地位。莫纳什大学和布里斯托尔大学之间可能进行更长期的合作研究，澳大利亚和英国的经济学家可能会进行超越这两个机构的研究合作，这也带来了额外的好处。

There exists a considerable gap between real-world economic organizations and the economic theory of the firm. This project provides formal theories of resource allocation within multidivisional corporations and the nature of optimal incentives, thereby contributing to fill this gap. The project is expected to produce highest-quality research publishable in top-tier journals. This will, among others, enhance Australia's standing as a knowledge nation. Additional benefit comes from the possibility of longer term collaborative research between Monash University and the University of Bristol, and possible research collaboration between Australian and British economists that goes beyond the two institutions.