Horizontal Shareholding
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...
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...
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...
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...
The Anti-Competitive Effects of Common Ownership: Q&A with Martin Schmalz
Martin Schmalz, assistant professor of business administration and finance at the University of Michigan, speaks about the anti-competitive effects of common ownership, a situation in...
The ProMarket Monthly Roundup
The first edition of our monthly roundup that includes ProMarket posts from the previous month, as well as interesting stories from our “Weekly Briefing” section.
The...
