Econ Papers Daily / 期刊论文
网络产业中的内生性部分交叉所有权
Endogenous partial cross-ownership in network industries
摘要
In this paper, we revisit the classical question of how partial passive cross-ownership (PPCO) influences competition in network industries. Contrary to conventional wisdom, our findings reveal that PPCO benefits firms only when ownership shares are of limited size, and in some cases, it may reduce profitability. These unconventional results are more likely to hold with higher network externality intensity and lower product compatibility. The work characterises the conditions on the model’s parameters and provides empirical and policy implications. Similar content being viewed by others
中文摘要
本文重新审视了部分被动交叉持股（PPCO）如何影响网络产业竞争这一经典问题。与传统认知相反，我们的研究发现，只有当持股比例有限时，PPCO才能为企业带来收益，在某些情况下甚至可能降低盈利能力。这些非传统结果在网络外部性强度更高、产品兼容性更低时更可能出现。本研究刻画了模型参数的条件，并提供了实证与政策启示。