Experience Stern | News & Events

Excerpt from Bloomberg -- "We talk a lot around here about the theory that common ownership of multiple firms in the same industry by diversified institutional shareholders reduces those firms’ incentives to compete with each other. Here is another paper about how, 'When competing firms possess overlapping sets of investors, maximizing shareholder value may provide incentives that distort competitive behavior, affecting pricing, entry, contracting, and virtually all strategic interactions among firms.'"

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