Cross ownership and firm performance
Editor’s note: This post is part of a series showcasing Barcelona GSE master projects by students in the Class of 2015. The project is a required component of every master program.
Octavi Castells Pera, Jaime López Sastre, and Berenice Ramirez
This paper assesses the impact of cross ownership on firm performance and industry competition through an analysis of shareholder’s networks in Spain using a panel regression model on a sample of non-financial listed companies between the years 2004 and 2012. The results show that there is a positive and significant effect of the number of connections a firm has with other industry rivals through the common ownership mechanism on its markup.
Read the paper or view presentation slides: