Market distortions and corporate governance

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Market distortions and corporate governance

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dc.contributor.author Kelsey, David en_GB
dc.contributor.author Milne, Frank en_GB
dc.contributor.department University of Exeter; Queen's University, Kingston, Ontario en_GB
dc.date.accessioned 2008-06-02T09:12:36Z en_GB
dc.date.accessioned 2011-01-25T10:25:40Z en_US
dc.date.accessioned 2013-03-19T15:51:39Z
dc.date.issued 2005-02 en_GB
dc.identifier.doi 10.2139/ssrn.704821 en_GB
dc.identifier.uri http://hdl.handle.net/10036/29293 en_GB
dc.language.iso en en_GB
dc.publisher SSRN en_GB
dc.relation.ispartofseries Queen's Univ. Law & Economics en_GB
dc.relation.ispartofseries Paper No. 2005-02 en_GB
dc.relation.url http://www.people.ex.ac.uk/dk210/ en_GB
dc.relation.url http://ssrn.com/abstract=704821 en_GB
dc.subject Corporate governance en_GB
dc.subject stakeholder en_GB
dc.title Market distortions and corporate governance en_GB
dc.type Working Paper en_GB
dc.date.available 2008-06-02T09:12:36Z en_GB
dc.date.available 2011-01-25T10:25:40Z en_US
dc.date.available 2013-03-19T15:51:39Z
dc.identifier.issn 15565068 en_GB
dc.description This paper studies corporate governance when a firm faces imperfect competition. We derive firms' decisions from utility maximization by individuals. This reduces the usual monopoly distortion. We find that corporate governance can effect the equilibrium in the product (or input) markets. This enables us to endogenize the objective function of the firm. If the firm cannot commit not to change its constitution, we find a Coaselike result where all market power is lost in the limit. We present a more abstract model of governance in the presence of market distortions and discuss its implications for the governance of universities. en_GB
dc.identifier.journal SSRN Electronic Journal en_GB


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