The Dark Side of Internal Capital Markets: Divisional Rent-Seeking and Inefficient Investment
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We develop a model that shows how rent-seeking behavior on the part of division managers can subvert the workings of an internal capital market. In an effort to stop rent-seeking, corporate headquarters will be effectively forced into paying bribes to some division managers. And because headquarters
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美国国家经济研究局创建时间：
1997-03-01
