De Chiara, Alessandro; Schwarz, Marco - 2020
capture regulators through the promise of a lucrative future job opportunity (i.e., the revolving-door channel) than through a … hidden payment (i.e., a bribe). This is because the revolving door publicly signals the firm's eagerness and commitment to … reward friendly regulators, which facilitates collusive equilibria. Moreover, the revolving-door channel need not require an …