unbundling are still advantageous when we allow for discriminatory capacity investments, investments into marginal cost reduction …

imperfections in legal unbundling (keeping ownership fixed) generally increases total output. Increasing the incumbent's ownership …, higher ownership shares of the downstream incumbent may sometimes lead to lower degrees of imperfections. Our analysis … suggests that consumers may benefit most from legal unbundling with strong regulation and parts of ownership given to a …

Germany is known for its family-owned businesses that transfer ownership across generations. However, business owners … institutionalized way private ownership of businesses is transferred. In this paper, we analyze and explain this fundamental change in … German family capitalism since the 1990s. Drawing on a sociology of ownership, we view family succession as a transfer regime …

, inside ownership, and the marginal cost of capital. We discuss implications for the determinants of firm size, the …We investigate the cost of capital in a model with an agency conflict between inside managers and outside shareholders …. Inside ownership reflects the classic tradeoff between incentives and risk diversification, and the severity of agency costs …