The Owner’s Mind

  • Li Way Lee


In proportion to the degree of separation from managers, owners agonize over a question: How competent is the manager? This question and the many attempts to answer it have given rise to the field of corporate governance or “the agency problem.” In this chapter I make the case that the most popular heuristic for judging a manager’s competency is market share. As a measure of dominance, market share has claimed the crown. All managers know it and they waste no time in pursuing it. That is why empire building has become the singular obsession among managers today.


Separation anxieties Distancing Willful blindness Board of Directors 


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Copyright information

© The Author(s) 2019

Authors and Affiliations

  • Li Way Lee
    • 1
  1. 1.Department of EconomicsWayne State UniversityDetroitUSA

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