The question of whether and how partial common-ownership links between strategically interacting firms affect firm objectives and behavior has been the subject of theoretical inquiry for decades. Since then, the growth of intermediated asset management and consolidation in the asset management...

The role of media – whether television, newspapers, radio, or the Internet – in supplying the ideas that shape our viewpoints and cultures is such that the dangers that may accompany concentrations of ownership in this sector are well recognized. Ownership patterns affect not only pluralism,...

We consider a mean-variance general equilibrium economy where the expected returns for controlling and non-controlling shareholders are different because the former are able to divert a fraction of the profits. We find that when investor protection is poor, asset return correlation affects...