Cross ownership and firm performance

Editor’s note: This post is part of a series showcasing Barcelona GSE master projects by students in the Class of 2015. The project is a required component of every master program.


Authors:
Octavi Castells Pera, Jaime López Sastre, and Berenice Ramirez

Master’s Program:
Finance

Paper Abstract:

This paper assesses the impact of cross ownership on firm performance and industry competition through an analysis of shareholder’s networks in Spain using a panel regression model on a sample of non-financial listed companies between the years 2004 and 2012. The results show that there is a positive and significant effect of the number of connections a firm has with other industry rivals through the common ownership mechanism on its markup.

Read the paper or view presentation slides:

[slideshare id=51094503&doc=cross-ownership-firm-performance-150730101644-lva1-app6891]