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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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(p.125) Chapter 18 Rents
Political Determinants of Corporate Governance

Mark J. Joe

Oxford University Press

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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