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This article considers the action of the Canadian Government in lifting its “asset ceiling” on foreign banks, and … examines the challenge foreign banks pose to the oligopolistic Canadian banking market. In particular, it focuses on the … foreign banks' competitive advantage, their market targeting approaches and marketing strategies, and their acceptance in the …
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Using data from the US automobile market, we empirically examine the link between competition and innovation. Consistent with a large literature, we use patent counts as a measure of innovation. The combination of the US market's economic importance, market dynamics, and the significant...
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We study how risk management through hedging impacts firms and competition among firms in the life insurance industry - an industry with over 7 Trillion in assets and over 1,000 private and public firms. We show that firms that are likely to face costly external finance increase hedging after...
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Using novel data on firms' government relations staff, and two distinct empirical settings, we show that political activism enables firms to grow their market power. The documented increases in profit margins and market share persist for up to two years, and are concentrated among large...
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