Please use this identifier to cite or link to this item: https://hdl.handle.net/10419/306566 
Year of Publication: 
2024
Citation: 
[Journal:] Research in International Business and Finance [ISSN:] 1878-3384 [Volume:] 70 [Issue:] Part A [Article No.:] 102315 [Publisher:] Elsevier [Place:] Amsterdam [Year:] 2024
Publisher: 
Elsevier, Amsterdam
Abstract: 
The debate on common shareholding and its potential antitrust effects is currently on the agenda of major institutions worldwide. Discussions point to the need for improved empirical quantification of this phenomena. This work presents a flexible, multifaceted statistical framework for a set of new common shareholding indicators, covering both firm and investor perspectives, which can be adopted under different economic models. Many indices currently used in the literature fall within this framework as special cases. Aggregation at market level yields suitable industry-level indicators, providing policymakers with tools to evaluate the extent of common ownership in strategic markets. The indices are tested using firm-level data for European Mobile Network Operators in 2007–2021, showing a sector with concentrated ownership under large corporate groups, but also the presence of institutional investors with extensive ownership across the major firms.
Subjects: 
Common ownership
Corporate governance
Networks
Mobile network operators
Anti-competitive practices
JEL: 
C18
D21
D22
G11
G32
L40
Persistent Identifier of the first edition: 
Creative Commons License: 
cc-by Logo
Document Type: 
Article
Document Version: 
Published Version

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