Common Ownership

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 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...

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...

“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...

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'...

Firms with Owners in Common Are Freer about Publicly Disclosing Information

The accounting literature has long examined how public disclosures relate to firm competitiveness. If common ownership is in fact hurting competition, companies with owners...

Editors’ Briefing: On Our Radar This Week (Feb. 17–Feb. 24)

This week in political economy. Is the US economy being strangled by a lack of competition? In the Harvard Business Review, David Wessel provides...

New Evidence and Legal Theories About Horizontal Shareholding

Harvard Law School professor Einer Elhauge on his new paper on horizontal shareholding, which provides new empirical evidence that even when horizontal shareholders individually...

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LATEST NEWS

Event Notes

Event Notes: “China’s Political Economy” in Review

Andy Shi

The Stigler Center's "China Political Economy" webinar series returns Thursday, February 9. Here's a reminder of what we covered in our first...

Economic History

To Build an Equitable Economy, We Must Understand Capitalism’s Racist Heritage

Elizabeth Kennedy

American capitalism was built on racial exploitation, from the enslavement of Black people to institutionalized discrimination and its structural impact on our...

Industrial Policy

How To Ensure Industrial Policy Promotes Public Over Private Gain

Lenore Palladino

Industrial policy was once so out of fashion that it was jokingly called “the policy that shall not be named.” Now it’s...

Fiscal Policy

More than Economics, Ideology Determines US Voters’ Preferences for Redistribution

Gustavo de Souza

The US stands out among developed economies for its comparatively low level of redistribution as a percentage of GDP. Gustavo de Souza...

Research

Stakeholder Motivations for “Private Sanctions” Against Russia

Utsav Gandhi

As the war in Ukraine enters its second year, a new study measures stakeholders’ desire to see their firms exit Russia and...