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Silent financial interests and product innovation

Anna Bayona and Ángel L. López

Economics Letters, 2018, vol. 170, issue C, 109-112

Abstract: We study quality-enhancing R&D, price competition, and welfare in markets with asymmetric passive partial ownership (PPO) holdings. The asymmetries in PPOs generate a positive re-allocation effect which, in some cases, can increase consumer and total surplus in markets with no spillovers.

Keywords: Partial ownership; Minority shareholdings; R&D investments; Price competition; Welfare (search for similar items in EconPapers)
JEL-codes: D43 L11 L40 G24 G34 (search for similar items in EconPapers)
Date: 2018
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