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UID:diw_01.c.789678.en
LOCATION:Online seminar via Cisco Webex
SUMMARY:Common Ownership, Markups and Productivity: Evidence from European Firms
DESCRIPTION:14:30 - 15:30 // This is an online seminar using Webex. You will receive the login data with the invitation to the talk.  Abstract:  This paper analyzes the relationship between common ownership – when two firms are partially held by the same investor – and markups. Combining firm-level financial data from Europe with ownership data of publicly listed firms, we structurally estimate production functions and markups, as a measure for market power. We find a robust positive relationship between firms' common ownership measures and their markups. A standard deviation increase in the level of common ownership with firms in the same industry is associated with an increase of 2-3% in firm markups. We further find that, if anything, the relation between common ownership and productivity is negative. Our results hint at common ownership increasing market power.
DTSTART;VALUE=DATE:20200507
DTEND;VALUE=DATE:20200507
DTSTAMP:20190805T220000Z
URL:https://www.diw.de/en/diw_01.c.789678.en/events/common_ownership__markups_and_productivity__evidence_from_european_firms.html
ORGANIZER;CN=Maximilian Schäfer:mailto:mschaefer@diw.de
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