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The Agency Costs of Corporate Political Spending

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  1. BDG says:

    And of course the location of the plant generally does not have an effect on the future allocation of power and rents between investors, managers, and other stakeholders, while laws quite often do. In a sense, the corporate lobbying debate seems like another version of the old race to the bottom debate: do you believe Bebchuk that managers shop for laws that entrench their own power? If you do, disclosure seems like a good idea.

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