Academic Commons


Discouraging Rivals: Managerial Rent-Seeking and Economic Inefficiencies

Stiglitz, Joseph E.

Managerial theories of the firm have a long and controversial history, beginning perhaps with Adolf A. Berle, Jr. and Gardiner C. Means's classic (1932) study. Such theories postulated that managers had considerable discretion running corporations and exercised it to pursue objectives other than maximizing shareholder market value.



Also Published In

American Economic Review

More About This Work

Academic Units
Published Here
April 18, 2013
Academic Commons provides global access to research and scholarship produced at Columbia University, Barnard College, Teachers College, Union Theological Seminary and Jewish Theological Seminary. Academic Commons is managed by the Columbia University Libraries.