i) The legislators and the regulators main goal is to keep itself in power. So,...
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Accounting
i) The legislators and the regulators main goal is to keep itself in power. So, they design regulation in a way that can attend the needs of the interest group that exercises more relative pressure on them (Source: Cardoso,2008, p.6).
Required:
a- The statement above is related to economic interest theory. Explain the concept of economic interest theory.
b- Politically connected firm means the close relationship between business and political elements. Describe this relationship according to economic interest theory.
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