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Product market competition
Introduction:
This page is the main page for information about the product
markets of relevance for corporate governance.
The
product market competition is of
major importance in corporate governance because it affects the incentives of
managers and
thereby
the efficiency of the firm.
There
are two kinds of product market competition that are relevant in corporate governance. 1)
Competition in the firm's product markets, and 2) competition in the product markets of the firm’s
owners if they are firms as well. For instance the product markets of an
institutional investor. A
classic reference on product market competition is Hart
[1983].
Content
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