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Shareholder vs. Stakeholder Protection and Interest Group Politics

Author

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  • Christian At

    (CRESE - Centre de REcherches sur les Stratégies Economiques (UR 3190) - UFC - Université de Franche-Comté - UBFC - Université Bourgogne Franche-Comté [COMUE])

Abstract

This paper develops a framework for analyzing how lobbying by interest groups affects the levels of both shareholder and stakeholder protection. We find that lobbying may lead the equilibrium level of shareholder protection to be suboptimal; the new result is that it may be too high, not just too low. We show that deregulation of lobbying increases the suboptimality of protection levels, while ownership concentration contributes to reduce it.

Suggested Citation

  • Christian At, 2015. "Shareholder vs. Stakeholder Protection and Interest Group Politics," Post-Print halshs-01308188, HAL.
    • Handle: RePEc:hal:journl:halshs-01308188
    DOI: 10.1628/093245615X14285667557513
    Note: View the original document on HAL open archive server: https://shs.hal.science/halshs-01308188
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    References listed on IDEAS

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    Cited by:

    1. Christian At, 2017. "The Market for Corporate Control with Influential- and Dependent-Stakeholder Protection," Journal of Institutional and Theoretical Economics (JITE), Mohr Siebeck, Tübingen, vol. 173(3), pages 419-430, September.

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