Horizontal partial cross ownership and innovation
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- dc.contributor.author Shelegia, Sandro
- dc.contributor.author Spiegel, Yossi
- dc.date.accessioned 2025-06-30T14:47:37Z
- dc.date.available 2025-06-30T14:47:37Z
- dc.date.issued 2024
- dc.date.updated 2025-06-30T14:47:37Z
- dc.description.abstract We study the effects of partial cross ownership (PCO) among rival firms on their incentives to innovate. PCO in our model gives rise to a price effect due to its effect on price competition and hence on the marginal benefit from investment, as well as a cannibalization effect which arises because each firm internalizes part of the negative externality of its investment on the rival's profit. We show that overall, PCO may benefit or harm consumers depending on the size of the PCO stakes, their degree of symmetry, the size of the innovation, its marginal cost, and whether it is drastic or not.
- dc.format.mimetype application/pdf
- dc.identifier.citation Shelegia S, Spiegel Y. Horizontal partial cross ownership and innovation. J Ind Econ. 2024 Dec;72(4):1397-1450. DOI: 10.1111/joie.12392
- dc.identifier.doi http://dx.doi.org/10.1111/joie.12392
- dc.identifier.issn 0022-1821
- dc.identifier.uri http://hdl.handle.net/10230/70798
- dc.language.iso eng
- dc.publisher Wiley
- dc.relation.ispartof Journal of Industrial Economics. 2024;72(4):1397-1450
- dc.rights This is an open access article under the terms of the Creative Commons Attribution-NonCommercial License, which permits use, distribution and reproduction in any medium, provided the original work is properly cited and is not used for commercial purposes.
- dc.rights.accessRights info:eu-repo/semantics/openAccess
- dc.rights.uri http://creativecommons.org/licenses/by-nc/4.0/
- dc.subject.other Consumidors
- dc.subject.other Inversions
- dc.subject.other Propietat
- dc.subject.other Competència econòmica
- dc.title Horizontal partial cross ownership and innovation
- dc.type info:eu-repo/semantics/article
- dc.type.version info:eu-repo/semantics/publishedVersion