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Political Determinants of Corporate GovernancePolitical Context, Corporate Impact$
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Mark J. Roe

Print publication date: 2006

Print ISBN-13: 9780199205301

Published to Oxford Scholarship Online: October 2011

DOI: 10.1093/acprof:oso/9780199205301.001.0001

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Rents

Rents

Chapter:
(p.125) Chapter 18 Rents
Source:
Political Determinants of Corporate Governance
Author(s):

Mark J. Joe

Publisher:
Oxford University Press
DOI:10.1093/acprof:oso/9780199205301.003.0019

Weaker product markets and the concomitant monopoly rents can affect corporate governance. They do so by loosening a constraint on managers, thereby increasing managerial agency costs to shareholders, costs than shareholders would then seek to reduce. Monopoly profits can also affect corporate governance structures indirectly by setting up a fertile field for conflict inside the firm as the corporate players seek to grab those profits for themselves.

Keywords:   capital markets, industrial organization, agency costs, monopolist's rectangle, monopoly

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