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 …

A new and urgently needed guide to making the American economy more competitive at a
time when tech giants have amassed vast market power. The US economy is growing less …

We investigate the relation between common institutional ownership of the firms in an
industry and product market competition. We find that common ownership is neither robustly …

Scholars and antitrust enforcers have raised concerns about anticompetitive effects that may
arise when insitutional investors hold substantial stakes in competing frms. Their con-cern …

TOO BIG TO BE ACTIVIST Page 1 TOO BIG TO BE ACTIVIST JOHN D. MORLEY* Big
investment managers, such as Vanguard and Fidelity, have accumulated an astonishing …

When the leading shareholders of horizontal competitors overlap, horizontal shareholding
exists.'Based on economic theory and empirical studies of airline and banking markets …

Imagine a hypothetical portfolio manager, PM, who works for an airline sector fund that has a
substantial shareholding in each of the major airlines. Through marketing activities and …

Prosocial Antitrust Page 1 Prosocial Antitrust AMELIA MIAZADt Antitrust law is at the center of
today 's public debate. It has even emerged as a rare unifying force, with bipartisan promises to …

A large fraction of US public stock is held by institutional investors that frequently hold
shares in multiple firms in the same industry (" common ownership"). Concerns have been …

Common ownership-where two firms are at least partially owned by the same investor-and
its impact on product market outcomes has recently drawn a lot of attention from scholars …