Ownership and Performance of Professional Service Firms
研究比较了大型管理咨询公司中上市公司、私有公司和合伙制的绩效差异，发现私有公司和合伙制表现优于上市公司，原因在于所有者监督更强和专业人员追求所有权的激励。
Understanding the effects of ownership upon organizational performance is a well-established theme in organization theory, but comparison across ownership forms has been neglected. We develop hypotheses comparing public corporations, private corporations and partnerships and test them in a sample of large management consultancies. We find that private corporations and partnerships outperform public corporations. We attribute this difference to increased monitoring by owners and greater motivation by professional workers seeking ownership stakes. Contrary to Durand and Vargas (2003), we find that organizational complexity has neither a direct nor a moderating effect.