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 …

The rapid growth in index funds and significant consolidation in the asset-management
industry over the past few decades has led to higher levels of common ownership and …

This paper presents direct measures of capital costs, equal to the product of the required
rate of return on capital and the value of the capital stock. The capital share, equal to the …

Many natural competitors are jointly held by a small set of large institutional investors. In the
US airline industry, taking common ownership into account implies increases in market …

We present a mechanism based on managerial incentives through which common
ownership affects product market outcomes. Firm-level variation in common ownership …

We examine relationship between common institutional ownership and corporate social
responsibility (CSR). We find that common institutional ownership is negatively associated …

We analyze the effects of institutional cross-ownership of same-industry firms on product
market performance and behavior. Our results show that cross-held firms experience …

We document substantial time‐series and cross‐sectional variation in branch‐level deposit
account interest rates, maintenance fees, and fee thresholds, and examine whether variation …

We derive a measure that captures the extent to which common ownership shifts managers'
incentives to internalize externalities. A key feature of the measure is that it allows for the …

We develop a tractable general equilibrium framework in which firms are large and have
market power with respect to both products and labor, and in which a firm's decisions are …