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1987 | OriginalPaper | Buchkapitel

Corporate Governance and Market Structure

verfasst von : Robert D. Willig

Erschienen in: Economic Policy in Theory and Practice

Verlag: Palgrave Macmillan UK

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It is an element of the conventional wisdom that product market competition disciplines firms into efficiency of operation, while market power fosters managerial sloth and x-inefficiency. In this view, movements in the market away from monopoly towards competition are doubly advantageous to social welfare. They decrease deadweight social losses in the product market while, at the same time, eliminating wasted resources and unnecessary costs internal to the firms.

Metadaten
Titel
Corporate Governance and Market Structure
verfasst von
Robert D. Willig
Copyright-Jahr
1987
Verlag
Palgrave Macmillan UK
DOI
https://doi.org/10.1007/978-1-349-18584-9_13