Common ownership and competition

Welcome to the UiS School of Business and Law seminar, Economics and Finance. The seminar is open for all interested.

Title: Common ownership and competition: Evidence from ultimate owners of private and public firms

• Date: Wednesday, December 4th
• Time: 12:15-13:15.
• Place: University of Stavanger School of Business and Law, Ullandhaug Campus, Elise Ottesen-Jensens hus, room EOJ 276/277 and on Teams
• Seminar guest: Inga Heiland, NTNU - Norwegian University of Science and Technology
  
  Link to Zoom Meeting
  Meeting-ID: 627 3021 1550
  Password: 940547

• Title: Common ownership and competition: Evidence from ultimate owners of private and public firms

Abstract:

Firms under common ownership have incentives to internalize the consequences of their behavior on each other, potentially resulting in less competition. In this paper, I revisit the question of whether firms that have owners in common with their rivals compete less. I exploit unique data from Norway to document the economy-wide extent of common ownership, covering private and public firms and the universe of shareholders. I then provide causal evidence on the e↵ect of common ownership on profit margins using exogenous variation in common ownership at the household level due to marriages and divorces among large individual shareholders.