Overlapping Ownership & Market Power Entrenchment

Overlapping ownership links may create the incentive for managers to internalize the preferences that their shareholders have in other firms. If they do (and firms in the industry impose a negative externality on each other), product market competition may be reduced. This article addresses three key empirical questions to understand the impact of overlapping ownership on market outcomes and its potential to preserve or entrench market power: (i) how can we quantify the potential internalization