Firm-Market equivalency: determinants and effects on industry dynamics

Elena de Vogeleer () and Denis Lescop ()
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Elena de Vogeleer: IMT-BS - DEFI - Département Droit, Économie et Finances - TEM - Télécom Ecole de Management - IMT - Institut Mines-Télécom [Paris] - IMT-BS - Institut Mines-Télécom Business School - IMT - Institut Mines-Télécom [Paris]
Denis Lescop: IMT-BS - DEFI - Département Droit, Économie et Finances - TEM - Télécom Ecole de Management - IMT - Institut Mines-Télécom [Paris] - IMT-BS - Institut Mines-Télécom Business School - IMT - Institut Mines-Télécom [Paris]

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Abstract: Today's firm is a complex nexus of interactions, which it facilitates and regulates; it supports market activity by providing participants with basic resources. Market failures form the foundation of this phenomenon; they create business opportunities that rms address through market support strategy.This paper explores the phenomenon of concurrent double function of firm : market creation and market support, through the concept of firm/market equivalency. We define firm/market equivalency as a platform-based cohort founded on mutually beneficial cooperative interactions between platform leader and firms-satellites, that gravitate towards the platform leader, subject to certain conditions. We address firm/market equivalency through its determinants (control and governance, capitalization, and interaction type). We then apply these concepts to a case study and discuss implications of firm/market equivalency for antitrust policy.

Keywords: Firm/market equivalency; Multi-sided markets platforms (search for similar items in EconPapers)
Date: 2012-09-13
Note: View the original document on HAL open archive server: https://hal.science/hal-02408568v1
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Published in ENEF 2012 : 9th European Network on the Economics of the Firm meeting, Sep 2012, Bologne, Italy

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