Common Ownership
How Does Venture Capital Shape Biotech Innovation?
In new research, Xuelin Li, Sijie Wang, Jiajie Xu, and Xiang Zheng find that the involvement of specialized venture capital firms influences a biotech startup’s drug portfolio by focusing research and development on fewer products.
Gauging Common Ownership in Fintech Markets
A new empirical paper estimates the scope and impact of common ownership in fintech markets. The authors find limited common ownership among private fintech...
Investing in Influence: Investors, Portfolio Firms, and Political Giving
A new paper examines the relationship between the rising concentration in institutional investors' ownership of publicly traded U.S. firms and portfolio companies' political giving....
The Passive Mechanisms of Common Ownership
A new paper explores the conundrum that common ownership poses for antitrust enforcers and competition and corporate scholars and sheds light on the distinctive...
The Economic Costs of Common Ownership
A new empirical study attempts to estimate the economy-wide welfare costs of common ownership. The authors find that they are large and have risen...
Is There Really a Conflict Between Better Corporate Governance and More Competitive Product Markets?
A new study shows that the supposed tradeoff between better corporate governance and more competitive product markets may not exist. More commonly-owned firms have...
“Doubt is Their Product”: The Difference Between Research and Academic Lobbying
Tommaso Valletti, the former Chief Competition Economist of the European Commission, reflects on the intersection of academic economics and policymaking and offers advice to...
Horizontal Shareholding’s Anticompetitive Effects and the Mechanisms That Produce It
Waiting for further proof of causal mechanisms before addressing the anticompetitive harm caused by horizontal shareholding is unjustified, just as it was when people...
Making Your Vote Count: Does the Voting Behavior of Asset Managers Truly Reflect Their Clients’ Interests?
In the past five years, thanks to growing public pressure, there has been increased attention on the voting behavior of asset managers. As a...
The Greatest Anticompetitive Threat of Our Time: Fixing the Horizontal Shareholding Problem
Undisputed empirical studies confirm that horizontal shareholding poses a great anticompetitive threat. What can antitrust enforcers do about it? Quite a lot, in fact.
Editors'...
