English term
residual claimant
And indeed, a review of the history and development of residual claimant theory shows that the residual claimant theory originally contemplated a broad array of stakeholders being the residual claimants of corporations. Depending on which of the theories of rent, interest, wages, or profit was adopted, each of landlord, capitalist, laborer, and entrepreneur have been considered to be the residual claimants of the corporation over time. (SSRN)
When given the chance to choose a less or more risky distribution over which to bargain, residual claimants tend to choose the more risky distribution only when there is the possibility of an equal-split ex-post. (IDEAS )
There are certain criticisms against the residual claimant theory. The theory fails to explain the role of trade unions in increasing the wages of an employee. Moreover, Walker did not explain the impact of supply of labor on wages. (EconomicsDiscussion.net!)
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