Puppets Fight as Puppet Masters Wish : The Influence of Shareholder Overlap on Interfirm Rivalry

• YAMANOI, Junichi

抄録

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If two competing firms receive influence from the same large shareholders, how do they compete? From the viewpoint of competitive dynamics and agency theory, I investigate the impact of overlapping shareholders of two competing firms on their competitive behavior. The overlapping shareholders of two competing firms will attempt to reduce the intensity of their competitive activity because they can increase economic surpluses from the competing firms by intentionally creating the stability of rivalry. Accordingly, competitive actions between two competing firms will become less intensive as their overlapping shareholders acquire more power over the firms. By using data on pairs of leaders and challengers in 13 Japanese industries in which they have engaged in lasting head-to-head competition, found support for the hypotheses.

収録刊行物

• 総合政策研究(CJPSCS)

  総合政策研究(CJPSCS) 23 1-19, 2015-03-30

  中央大学総合政策学部

キーワード

• interfirm rivalry
• agency theory
• overlapping shareholder
• action frequency
• action magnitude

詳細情報

• CRID: 1050001202724869248
• NII論文ID: 110009979041
• NII書誌ID: AN10550821
• ISSN: 13417827
• NDL書誌ID: 026420834
• Web Site: https://chuo-u.repo.nii.ac.jp/records/7152
• Web Site: https://ndlsearch.ndl.go.jp/books/R000000004-I026420834
• 本文言語コード: en
• 資料種別: departmental bulletin paper
• データソース種別:
  • IRDB
  • NDL
  • CiNii Articles