Anton, Miguel; Ederer, Florian; Giné, Mireia; Schmalz, … - National Bureau of Economic Research - 2022
We present a mechanism based on managerial incentives through which common ownership affects product market outcomes …. Firm-level variation in common ownership causes variation in managerial incentives and productivity across firms, which … and a difference-in-differences design we document that managerial incentives are less performance-sensitive in firms with …