Endogenous choice of minority shareholdings: Effects on product market competition
Non-controlling minority shareholdings in rivals (NCMS) lower the sustainability of collusion under a wide variety of circumstances. Nevertheless, NCMS are sometimes deemed to facilitate collusion, in particular if the level of NCMS is exogenous. The present paper endogenizes _rms' choice of NC...
Gardado en:
Publicado en: | MAGKS - Joint Discussion Paper Series in Economics (Band 12-2019) |
---|---|
Autor Principal: | |
Formato: | Artigo |
Idioma: | inglés |
Publicado: |
Philipps-Universität Marburg
2019
|
Schlagworte: | |
Acceso en liña: | Texto completo PDF |
Tags: |
Engadir etiqueta
Sen Etiquetas, Sexa o primeiro en etiquetar este rexistro!
|
Zusammenfassung: | Non-controlling minority shareholdings in rivals (NCMS) lower the sustainability of collusion under a wide variety of circumstances. Nevertheless, NCMS are sometimes deemed to facilitate collusion, in particular if the level of NCMS is exogenous. The present paper endogenizes _rms' choice of NCMS and answers the question: Would colluding firms find it rational to acquire NCMS in rivals? The study of the acquisition reveals that _rms have an incentive to acquire NCMS which are accompanied by a shift from collusive to competitive behaviour. |
---|---|
Descrición Física: | 34 Seiten |
ISSN: | 1867-3678 |
DOI: | 10.17192/es2024.0607 |