INVESTOR RESPONSE TO HEALTH-CARE COST-CONTAINMENT LEGISLATION - IS AMERICAN HEALTH-POLICY DESIGNED TO FAIL

• 成果类型: Article
• 署名作者: JACOBSON, CK
• 署名单位: University of Western Australia
• 刊物名称: ACADEMY OF MANAGEMENT JOURNAL
• ISSN/ISSBN: 0001-4273
• DOI: 10.5465/256838
• 发表日期: 1994
• 页码: 440-452
• 关键词: organizations; industry; WEALTH

摘要

Two failed congressional attempts to control escalating health costs are examined. The data show that investors apparently anticipated their failure. With the implementation of a policy encouraging market competition, however, investors expected larger firms to benefit and firms with previously high profit growth rates to lose. From the viewpoint of the politics of structural choice, it appears that identifiable structural flaws were deliberately designed into both laws in ways that would promote failure and protect key interest groups.