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...

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...

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Voters Still Believe Politics is About the Common Good, Not Just Rent-Seeking

Do voters still believe that politics can be a source for common-good policies and not just partisan bickering and rent-seeking? With political...

How to Design Data Protection Laws That Actually Work 

More and more countries are passing data protection laws, yet empirical studies show that these laws rarely deliver on their promises. A...

Are Monopolists or Cartels the True Source of Anticompetitive US Political Power?

Trade associations are often the biggest obstacles to competitive markets, especially when those organizations use their influence to change public policy in...