Suntory and Toyota International Centres for Economics and Related Disciplines (STICERD) LSE RSS Contact Us YouTube Twitter

STICERD Industrial Organisation Seminars


feed/rss  Webfeed

These seminars are held on Mondays in term time at 12:30-14:00 in room 32L 2.04 (2nd Floor, 32 Lincoln's Inn Fields, WC2A 3PH), unless specified otherwise.

Entry is on a first-come first-served basis. No registration is required but places are limited. A light lunch will be available for everyone attending.

Seminar organisers: Alessandro Gavazza and Pasquale Schiraldi.

For further information please contact Lubala Chibwe

You can subscribe or unsubscribe to our mailing list (industry).



calendar
Monday  28 October 2019  12:30 - 14:00

Common Ownership in America: 1980-2017; and Testing for Common Ownership (joint with Matthew Backus and Christopher Conlon)

Michael Sinkinson (Yale)

32L 2.04, 2nd Floor Conference Room, LSE, 32 Lincoln's Inn Fields, London WC2A 3PH
calendar
Monday  28 October 2019  12:30 - 14:00

Common Ownership in America: 1980-2017; and Testing for Common Ownership (joint with Matthew Backus and Christopher Conlon)

Michael Sinkinson (Yale)

When competing firms possess overlapping sets of investors, maximizing shareholder value may provide incentives that distort competitive behavior, affecting pricing, entry, contracting, and virtually all strategic interactions among firms. We propose a structurally consistent and scaleable approach to the measurement of this phenomenon for the universe of S&P 500 firms between 1980 and 2017. Contrary to popular intuition, this is not primarily associated with the rise of BlackRock and Vanguard: instead, the trend in the time series is driven by a broader rise in diversified investment strategies, of which these firms are only the most recent incarnation. In the cross-section, there is substantial variation that can be traced, both in the theory and the data, to observable firm characteristics. We show how common ownership can theoretically give rise to incentives for expropriation of undiversified shareholders via tunneling. Finally, we develop a framework for testing for price effects of common ownership in differentiated goods markets. We apply this test to the US market for ready-to-eat cereals.


32L 2.04, 2nd Floor Conference Room, LSE, 32 Lincoln's Inn Fields, London WC2A 3PH
calendar
Monday  11 November 2019  12:30 - 14:00

TBC

Yizhou Jin (Berkeley)

32L 2.04, 2nd Floor Conference Room, LSE, 32 Lincoln's Inn Fields, London WC2A 3PH
calendar
Monday  18 November 2019  12:30 - 14:00

TBC

Robert Clark (Queen's University)

32L 2.04, 2nd Floor Conference Room, LSE, 32 Lincoln's Inn Fields, London WC2A 3PH
calendar
Monday  25 November 2019  12:30 - 14:00

TBC

Rachel Griffith (IFS and UCL)

32L 2.04, 2nd Floor Conference Room, LSE, 32 Lincoln's Inn Fields, London WC2A 3PH
calendar
Monday  09 December 2019  12:30 - 14:00

TBC

Jonathan Williams (University of North Carolina)

32L 2.04, 2nd Floor Conference Room, LSE, 32 Lincoln's Inn Fields, London WC2A 3PH
There are also future events listed for this series. Please see STICERD Industrial Organisation Seminars listed for Next Term