Please use this identifier to cite or link to this item: https://hdl.handle.net/10419/204806 
Authors: 
Year of Publication: 
2019
Series/Report no.: 
MAGKS Joint Discussion Paper Series in Economics No. 12-2019
Publisher: 
Philipps-University Marburg, School of Business and Economics, Marburg
Abstract: 
Non-controlling minority shareholdings in rivals (NCMS) lower the sus- tainability of collusion under a wide variety of circumstances. Nevertheless, NCMS are sometimes deemed to facilitate collusion, in particular if the level of NCMS is exogenous. The present paper endogenizes firms' choice of NCMS and answers the question: Would colluding firms find it rational to acquire NCMS in rivals? The study of the acquisition reveals that firms have an in- centive to acquire NCMS which are accompanied by a shift from collusive to competitive behaviour.
Subjects: 
Collusion
Coordinated Effects
Minority Shareholdings
Merger Control
Unilateral Effects
JEL: 
G34
K21
L41
Document Type: 
Working Paper

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