Please use this identifier to cite or link to this item:
http://arks.princeton.edu/ark:/88435/dsp017w62fb66h
Title: | A Multiple-Industry Panel Analysis of the Anti-Competitive Effects of Common Ownership |
Authors: | Rex, Hunter |
Advisors: | Hong, Harrison |
Department: | Economics |
Class Year: | 2016 |
Abstract: | Recent work in the industrial organization literature nds a signi cant relationship between increased levels of institutional ownership among natural competitors and higher product prices in certain industries. We extend this framework to quarterly cross-sections of the U.S. economy using industry-level concentration measures of publicly-traded companies. Panel analyses identify a signi cant positive e ect of both common ownership concentration and its lags on industry average gross pro ts when controlling for xed e ects. We implement a panel-IV strategy using changes in large index funds' industry ownership levels to address endogeneity concerns and suggest a causal link from increased common ownership to higher industry gross pro t margins. |
Extent: | 50 pages |
URI: | http://arks.princeton.edu/ark:/88435/dsp017w62fb66h |
Type of Material: | Princeton University Senior Theses |
Language: | en_US |
Appears in Collections: | Economics, 1927-2023 |
Files in This Item:
File | Size | Format | |
---|---|---|---|
Economics_Senior_Thesis_Submission_Click_Here_To_Submit_hrex_attempt_2016-04-13-14-28-44_Rex_Hunter.pdf | 438.65 kB | Adobe PDF | Request a copy |
Items in Dataspace are protected by copyright, with all rights reserved, unless otherwise indicated.