-specific skills. But the threat of poaching means that it is the individual ‘stakeholder’, not the firm, who must bear the cost. We …

When stakeholder protection is left to the voluntary initiative of managers, relations with social activists may become … increased by the institutionalization of stakeholder protection depriving incumbent CEOs of activists’ support. This finding … to stakeholder protection even in case of managerial replacement. Our theory also explains a recent trend whereby social …

private firm. We solve analytically for the Kantian equilibrium of this lobbying game together with the majority voting … more concentrated among the top productivity individuals, their increased lobbying effort generates efficiency as well as …

An extensive literature has studied lobbying by special interest groups. We analyze a novel lobbying channel: lobbying … businessmen-politicians through business proxies. When a politician controls a business, firms attempting to curry favors shift … their spending towards the politician's business. The politician benefits from increased revenues, and the firms hope for …