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https://hdl.handle.net/10419/46394
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DC Field | Value | Language |
---|---|---|
dc.contributor.author | Karle, Heiko | en |
dc.contributor.author | Klein, Tobias J. | en |
dc.contributor.author | Stahl, Konrad O. | en |
dc.date.accessioned | 2011-05-24 | - |
dc.date.accessioned | 2011-06-29T11:18:16Z | - |
dc.date.available | 2011-06-29T11:18:16Z | - |
dc.date.issued | 2011 | - |
dc.identifier.uri | http://hdl.handle.net/10419/46394 | - |
dc.description.abstract | We 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 |
dc.language.iso | eng | en |
dc.publisher | |aCenter for Economic Studies and ifo Institute (CESifo) |cMunich | en |
dc.relation.ispartofseries | |aCESifo Working Paper |x3380 | en |
dc.subject.jel | L13 | en |
dc.subject.jel | L41 | en |
dc.subject.ddc | 330 | en |
dc.subject.keyword | differentiated products | en |
dc.subject.keyword | separation of ownership and control | en |
dc.subject.keyword | private benefits of control | en |
dc.subject.stw | Investition | en |
dc.subject.stw | Produktdifferenzierung | en |
dc.subject.stw | Corporate Governance | en |
dc.subject.stw | Unvollkommener Markt | en |
dc.subject.stw | Theorie | en |
dc.title | Ownership and control in a competitive industry | - |
dc.type | Working Paper | en |
dc.identifier.ppn | 659516667 | en |
dc.rights | http://www.econstor.eu/dspace/Nutzungsbedingungen | en |
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