Common ownership, institutional investors, and welfare
Copyright policy )Common ownership, institutional investors, and welfare
AbstractThis study evaluates the effects of institutional investors' common ownership of firms competing in the same market. Overall, common ownership has two opposing effects: (a) it serves as a device for weakening market competition, and (b) it induces diversification, thereby reducing portfolio risk. We conduct a detailed welfare analysis within which the competition‐softening effects of an increased degree of common ownership is weighted against the associated diversification benefits.
- Federal Reserve Bank of Atlanta United States
- University of Helsinki Finland
- Hanken School of Economics Finland
PREM2020_09, 1 - Self archived, ta511, AoS: Competition economics and service strategy - Quantitative consumer behaviour and competition economics, 1- Publicerad utomlands, 0- Ingen affiliation med ett företag, 1- Minst en av författarna har en utländsk affiliation, KOTA2020, http://hdl.handle.net/10227/511076, 511 Economics, 0 - Not open access, SDG 12 - Responsible Consumption and Production
PREM2020_09, 1 - Self archived, ta511, AoS: Competition economics and service strategy - Quantitative consumer behaviour and competition economics, 1- Publicerad utomlands, 0- Ingen affiliation med ett företag, 1- Minst en av författarna har en utländsk affiliation, KOTA2020, http://hdl.handle.net/10227/511076, 511 Economics, 0 - Not open access, SDG 12 - Responsible Consumption and Production
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