Corpus ID: 208163991

The Rise of Common Ownership*

@inproceedings{Gilje2017TheRO,
  title={The Rise of Common Ownership*},
  author={Erik P. Gilje and Todd A. Gormley and Doron Levit},
  year={2017}
}
Common ownership—where two firms are at least partially owned by the same investor— is on the rise among publicly-held U.S. firms. In this paper, we discuss the challenges in quantifying the impact of common ownership on firms’ strategic choices and analyze the potential determinants of its rise. To do so, we derive measures that capture the extent to which common ownership will shift managers’ actions and estimate them for every pair of stocks between 1980 and 2012. Our findings suggest that… Expand

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