| 来源类型 | Discussion paper |
| 规范类型 | 论文 |
| 来源ID | DP8277 |
| DP8277 Ownership and Control in a Competitive Industry | |
| Konrad O Stahl; Tobias Klein; Heiko Karle | |
| 发表日期 | 2011-02-28 |
| 出版年 | 2011 |
| 语种 | 英语 |
| 摘要 | We study a differentiated product market in which an investor initially owns a controlling stake in one of two competing firms and may acquire a non-controlling or a controlling stake in a competitor, either directly using her own assets, or indirectly via the controlled firm. While industry profits are maximized within a symmetric two product monopoly, the investor attains this only in exceptional cases. Instead, she sometimes acquires a non-controlling stake. Or she invests asymmetrically rather than pursuing a full takeover if she acquires a controlling one. Generally, she invests indirectly if she only wants to affect the product market outcome, and directly if acquiring shares is profitable per se. |
| 主题 | Financial Economics ; Industrial Organization |
| 关键词 | Differentiated products Private benefits of control Separation of ownership and control |
| URL | https://cepr.org/publications/dp8277 |
| 来源智库 | Centre for Economic Policy Research (United Kingdom) |
| 资源类型 | 智库出版物 |
| 条目标识符 | http://119.78.100.153/handle/2XGU8XDN/537114 |
| 推荐引用方式 GB/T 7714 | Konrad O Stahl,Tobias Klein,Heiko Karle. DP8277 Ownership and Control in a Competitive Industry. 2011. |
| 条目包含的文件 | 条目无相关文件。 | |||||
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