balances on the power of the state-thus creating suspicion that political patronage shelters firms' social and moral wrongdoing …. To test this theory, we examine the circumstances under which politically patronized firms engage more (or less) in …

monopoly power. Stakeholders also influence regulation by, for instance, commenting in proceedings. Most studies on stakeholder … relations focus on engagement, such as through advisory groups and public hearings. Largely missing are analyses of power …