
242 CHAPTER 10 CORPORATE GOVERNANCE AND THE LEGAL ENVIRONMENT
managerial decisions. Remember, a relatively high concentration of insider plus
institutional ownership is descriptive of the modern corporation.
Four general forces affecting corporate ownership structure have been iden-
tified, including
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Amenity potential
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Regulatory potential
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Quality control potential
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Ownership control potential
Amenity potential is derived from the ability to influence the type of
goods produced. Such benefits can be derived from ownership of mass media
and professional sports teams, for example, and explain why such endeavors
tend to be tightly controlled by top management. ...