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dc.contributor.authorKarle, Heikoen_US
dc.contributor.authorKlein, Tobias J.en_US
dc.contributor.authorStahl, Konrad O.en_US
dc.date.accessioned2011-05-24en_US
dc.date.accessioned2011-06-29T11:18:16Z-
dc.date.available2011-06-29T11:18:16Z-
dc.date.issued2011en_US
dc.identifier.urihttp://hdl.handle.net/10419/46394-
dc.description.abstractWe study a differentiated product market in which an investor initially owns a controlling stake in one of two competing firms and may acquire a non-controlling or a controlling stake in a competitor, either directly using her own assets, or indirectly via the controlled firm. While industry profits are maximized within a symmetric two product monopoly, the investor attains this only in exceptional cases. Instead, she sometimes acquires a non-controlling stake. Or she invests asymmetrically rather than pursuing a full takeover if she acquires a controlling one. Generally, she invests indirectly if she only wants to affect the product market outcome, and directly if acquiring shares is profitable per se.en_US
dc.language.isoengen_US
dc.publisherCESifo Münchenen_US
dc.relation.ispartofseriesCESifo working paper: Industrial Organisation 3380en_US
dc.subject.jelL13en_US
dc.subject.jelL41en_US
dc.subject.ddc330en_US
dc.subject.keyworddifferentiated productsen_US
dc.subject.keywordseparation of ownership and controlen_US
dc.subject.keywordprivate benefits of controlen_US
dc.subject.stwInvestitionen_US
dc.subject.stwProduktdifferenzierungen_US
dc.subject.stwCorporate Governanceen_US
dc.subject.stwUnvollkommener Markten_US
dc.subject.stwTheorieen_US
dc.titleOwnership and control in a competitive industryen_US
dc.typeWorking Paperen_US
dc.identifier.ppn659516667en_US
dc.rightshttp://www.econstor.eu/dspace/Nutzungsbedingungenen_US
Appears in Collections:CESifo Working Papers, CESifo Group Munich

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