EconPapers    
Economics at your fingertips  
 

Horizontal and Vertical Firm Networks, Corporate Performance and Product Market Competition

Oliver Bischoff () and Achim Buchwald ()
Additional contact information
Oliver Bischoff: Monopolies Commission
Achim Buchwald: Federal University of Applied Administrative Sciences

Journal of Industry, Competition and Trade, 2018, vol. 18, issue 1, No 2, 25-45

Abstract: Abstract This paper sheds new light on the assessment of firm networks via multiple directorships in terms of corporate firm performance. Using a large sample of European listed firms in the period from 2003 to 2011 and system GMM we find a significant compensation effect on corporate firm performance for the initial negative effect of horizontal multiple directorships by product market competition. In markets with effective competition, horizontal multiple directorships turn out to be an efficient mechanism to increase firm performance and thus assure competitive advantages. By contrast, linkages between up- and downstream firms have no significant influence on financial performance, irrespective of the level of competition intensity.

Keywords: Horizontal and vertical firm networks; Multiple directorships; Corporate governance; Product market competition; Dynamic panel; C23; G32; G34; L14; L25; L40 (search for similar items in EconPapers)
Date: 2018
References: View references in EconPapers View complete reference list from CitEc
Citations: View citations in EconPapers (1)

Downloads: (external link)
http://link.springer.com/10.1007/s10842-017-0250-7 Abstract (text/html)
Access to full text is restricted to subscribers.

Related works:
Working Paper: Horizontal and Vertical Firm Networks, Corporate Performance and Product Market Competition (2015) Downloads
This item may be available elsewhere in EconPapers: Search for items with the same title.

Export reference: BibTeX RIS (EndNote, ProCite, RefMan) HTML/Text

Persistent link: https://EconPapers.repec.org/RePEc:kap:jincot:v:18:y:2018:i:1:d:10.1007_s10842-017-0250-7

Ordering information: This journal article can be ordered from
http://www.springer. ... on/journal/10842/PS2

DOI: 10.1007/s10842-017-0250-7

Access Statistics for this article

Journal of Industry, Competition and Trade is currently edited by Karl Aiginger, Marcel Canoy and Michael Peneder

More articles in Journal of Industry, Competition and Trade from Springer
Bibliographic data for series maintained by Sonal Shukla () and Springer Nature Abstracting and Indexing ().

 
Page updated 2025-03-19
Handle: RePEc:kap:jincot:v:18:y:2018:i:1:d:10.1007_s10842-017-0250-7