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Cheryl Long and Richard Boylan
( 2003, Vol. 4 No.34 )
We present a model of optimal monitoring expenditures. For any technology that yields a conventional ``S-shaped''' production function for monitoring, the optimal level of monitoring is shown to be higher in medium-sized firms than in both small and large firms. Further, the interaction between specialization and agency are shown to lead to an ``S-shaped'''' production function.
JEL: D2 - Production and Organizations: General
M1 - Business Administration: General
Manuscript Received : Sep 26 2003 Manuscript Accepted : Nov 07 2003

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