Academic Commons

Articles

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.

Subjects

Files

Also Published In

Title
American Economic Review

More About This Work

Academic Units
Economics
Published Here
April 18, 2013