The technology industry used to be a synonym for computer-related technologies. Now, the Internet has taken center stage. Although the reliance on computers has not gone away, the headline-making companies are primarily the Internet companies. This monograph provides a careful and dispassionate analysis of soft dollar brokerage. Their evidence supports the incentive alignment hypothesis, which is based on the idea that soft dollar brokerage is a form of efficient economic organization that market participants have developed to reduce agency and transaction costs.
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