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This paper analyzes and measures the value that American private banks added as directors of non financial companies. Using data between 1874 and 1913, and an event study from 1906, I find that bank directors added about 20% of a firm's market capitalization. Collusive practices encouraged by...
Persistent link: https://www.econbiz.de/10012978295
enterprise ownership, competition enforcement, investment regulation and trade policy in addition to departments of government … with broader responsibility for the enterprise and competition landscape, and/or cross-border trade and investment …
Persistent link: https://www.econbiz.de/10011582215
the major reforms revamped the competition law. The new competition law introduced the principle of 'competitive … neutrality' by bringing 'state-owned enterprises' (SOEs) under the purview of competition law regulation by virtue of defining … 'enterprise' to include government departments engaged in economic activity. The Competition Commission of India (CCI) has …
Persistent link: https://www.econbiz.de/10012137042
the major reforms revamped the competition law. The new competition law introduced the principle of ‘competitive … neutrality’ by bringing ‘state-owned enterprises’ (SOEs) under the purview of competition law regulation by virtue of defining … ‘enterprise’ to include government departments engaged in economic activity. The Competition Commission of India (CCI) has …
Persistent link: https://www.econbiz.de/10014032438
Antitrust authorities search public documents to discover anticompetitive mergers. Thus, investor disclosures may alert them to deals that would otherwise escape scrutiny, creating disincentives for managers to divulge transactions. We study this behavior in publicly traded US companies. First,...
Persistent link: https://www.econbiz.de/10013293948
As is well known among financial economists but not previously recognized within the antitrust community, large and diversified institutional investors such as BlackRock, Fidelity, State Street, and Vanguard collectively own roughly two-thirds of the shares of publicly traded U.S. firms overall,...
Persistent link: https://www.econbiz.de/10012996922
The development of marginalist, or neoclassical, economics led to a fifty-year long crisis in competition theory. Given … an industrial structure with sufficient fixed costs, competition always became quot;ruinous,quot; forcing firms to cut … early decades of the twentieth century. The ruinous competition debate came to an abrupt end in the early 1930's, when Joan …
Persistent link: https://www.econbiz.de/10012758884
. Many of the formal theories of industrial organization, such as the ruinous competition doctrine, the potential competition …
Persistent link: https://www.econbiz.de/10014207408
Persistent link: https://www.econbiz.de/10011401179
Competition law compliance has become increasingly important in the banking industry as the number of infringements and … competition law infringements. Therefore, this article sets out an approach to assessing the residual risk of antitrust non …
Persistent link: https://www.econbiz.de/10011377828