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Sokol, D. Daniel - 2021

Partial ownership of stock in multiple competing firms is an important scholarly and policy topic in both corporate and antitrust law. Until now, the discussion has focused on ownership. This essay shifts the debate from a focus on common ownership to a focus on common control. No prior work has...

Persistent link: https://www.econbiz.de/10013236520

Varieties and Mechanisms of Common Ownership : A Calibration Exercise for Competition Policy

Tzanaki, Anna - 2021

studies, however, draw attention to a new, thought provoking theory of harm: common ownership by institutional investors …

Persistent link: https://www.econbiz.de/10013241599

Rethinking 'Political' Considerations in Investment

Webber, David H. - 2021

This is a transcript of my remarks as 2016 Visiting Scholar in Corporate and Business Law at Delaware Law Widener University, delivered to the members of the Delaware Judiciary and Bar at the Wilmington Club on September 12, 2016. I introduce the idea of multipreference shareholders whose...

Persistent link: https://www.econbiz.de/10013250653

Contract Features and the Informativeness of Insider Trades

Cadman, Brian D.; Széles, Máté - 2021

Economic theory predicts that insiders reveal private information when they trade equity in their firm. However …

Persistent link: https://www.econbiz.de/10013251583

Transaction Costs in Common Ownership

Khoo, Kenneth - 2022

A phenomenon known as “Common Ownership” arises when shareholders hold substantial stakes in competing firms. Although recent empirical evidence has illustrated how common concentrated owners are associated with higher product market prices and lower output, scholars remain divided as to the...

Persistent link: https://www.econbiz.de/10013293643

Team Production Revisited

Bratton, William W. - 2021

Article also shows that the model taught three groundbreaking lessons to corporate legal theory. First, nothing binds … microeconomic analysis together with a theory of the firm rooted in shareholder primacy. Second, microeconomics, with its emphases … microeconomic theory of corporate production. To the extent an economic model’s description of the appropriate legal framework …

Persistent link: https://www.econbiz.de/10013210873

Say on Pay's Bundling Problems

Lund, Andrew - 2010

The newly enacted federal Say on Pay rule will require public firms to periodically provide shareholders with an opportunity to cast an advisory vote regarding its most recent year's executive compensation. Like other efforts to increase shareholder power, Say on Pay has attracted criticism from...

Persistent link: https://www.econbiz.de/10013144116

Financial Constraints and Dividend Policy

Pathan, Shams - 2014

Using a sample of US listed firms over the 1989-2012 period, we find that financially constrained dividend increasing firms experience superior short-run abnormal stock returns, but suffer worse operating performance compared to similar unconstrained firms. More specifically, constrained firms...

Persistent link: https://www.econbiz.de/10013063595

The growing problem of horizontal shareholding

Elhauge, Einer - 2017

Horizontal shareholding exists when significant shareholders have stock in horizontal competitors. (It is often imprecisely called "common shareholding," but that term can also apply when shareholders own stock in two noncompeting corporations. It differs from "cross-shareholding," which...

Persistent link: https://www.econbiz.de/10011685455

New evidence, proofs, and legal theories on horizontal shareholding

Elhauge, Einer - 2018

This Article shows that new economic proofs and empirical evidence provide powerful confirmation that, even when horizontal shareholders individually have minority stakes, horizontal shareholding in concentrated markets often has anticompetitive effects. The new economic proofs show that,...

Persistent link: https://www.econbiz.de/10011810808