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Do Venture Capitalists Stifle Competition?
Li, Xuelin - 2020
We find that common ownership leads VCs to stifle competition among startups, but only in limited circumstances. Our evidence is from pharmaceutical startups, where common ownership is widespread. We examine how a startup responds after seeing a competitor make progress on a related drug...
Persistent link: https://www.econbiz.de/10012847024
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Intimidating Competitors ? Endogenous Vertical Integration and Downstream Investment in Successive Oligopoly
Buehler, Stefan - 2020
oligopoly. We start from a linear Cournot model to motivate our more general reduced-form framework. For this general framework …
Persistent link: https://www.econbiz.de/10012705917
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Advertising competition in the free-to-air TV broadcasting industry
Ivaldi, Marc; Zhang, Jiekai - 2017
oligopoly competition and identify the shape and magnitude of the feedback loop between TV viewers and advertisers. We also …
Persistent link: https://www.econbiz.de/10011646956
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Vertical Integration and Capacity Competition in Electricity Markets
Walshaw, Rowan; Meagher, Kieron - 2008
This paper characterises the impact of vertical integration on price equilibria and incentives to strategically withhold capacity in a wholesale electricity auction. A two-stage game is analysed where vertically integrated firms first declare the quantity of electricity available and then...
Persistent link: https://www.econbiz.de/10014214770
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Do underwriters compete in IPO pricing?
Lyandres, Evgeny; Fu, Fangjian; Li, Erica X. N. - In: Management science : journal of the Institute for … 64 (2018) 2, pp. 925-954
Persistent link: https://www.econbiz.de/10011823158
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Competition and opportunistic advice of financial analysts: theory and evidence
Sette, Enrico - London School of Economics (LSE) - 2007
. This empirical prediction is tested on data about recommendations on IPOs. The main result is that analysts working for the …This work investigates both theoretically and empirically how the behaviour of financial analysts is affected by … competition, measured as the strength of coverage of a stock from other analysts. The interaction among analysts and investors is …
Persistent link: https://www.econbiz.de/10011071323
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Product Market Competition, Competitive Strategy, and Analyst Coverage
Zhang, Rongrong - 2022
This paper examines how product market competition and strategic interactions among peer firms influence analyst coverage. First, we hypothesize that product market competition increases both the demand and supply of analyst coverage. Using three variations of industry concentration ratios and a...
Persistent link: https://www.econbiz.de/10014238657
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Vertical integration, competition, and financial exchanges: Is there grain in the silo?
Juranek, Steffen; Walz, Uwe - 2010
We investigate the incentives for vertical or horizontal integration in the financial security service industry, consisting of trading, clearing and settlement. We thereby focus on firms' decisions but also look on the implications of these decisions on competition and welfare. Our analysis...
Persistent link: https://www.econbiz.de/10010303707
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Entrepreneurial Innovations, Competition and Competition Policy
Norbäck, Pehr-Johan; Persson, Lars - 2006
We show that, in the case when innovations are for sale, increased product market competition, captured by reduced product market profits, can increase the incentives for innovations. The reason is that the incentive to innovate depends on the acquisition price which, in turn, might increase...
Persistent link: https://www.econbiz.de/10010320042
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The road not taken : competition and the R&D portfolio
Letina, Igor - 2015 - [Revised version, August 2015]
This article examines the effects of market structure on the variety of research projects undertaken and the amount of duplication of research. A characterization of the equilibrium market portfolio of R&D projects and the socially optimal portfolio is provided. It is shown that a merger...
Persistent link: https://www.econbiz.de/10011312249