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Corporate Control, Social Choice And Capital Accumulation: An Asymmetrical Choice Approach

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  • Pitelis, Christos N.

Abstract

Corporate decisions with regard to retained earnings act as a constraint to the consumption-saving decisions of all shareholders, except those who take the decisions - the controlling group. The latter exhibit a preference for a higher retention ratio than the non-controlling share-holders and tend to realize their "preferences." Given less than perfect substitution between corporate and personal saving, this tends to increase aggregate financial capital accumulation.
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  • Pitelis, Christos N., 1983. "Corporate Control, Social Choice And Capital Accumulation: An Asymmetrical Choice Approach," Economic Research Papers 269184, University of Warwick - Department of Economics.
    • Handle: RePEc:ags:uwarer:269184
    DOI: 10.22004/ag.econ.269184
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    Keywords

    Industrial Organization; Public Economics;

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