Welfare effects on equity holdings in vertical markets

2022 Fiscal Year Final Research Report

• Project/Area Number: 20K01678
• Research Category: Grant-in-Aid for Scientific Research (C)
• Allocation Type: Multi-year Fund
• Section: 一般
• Review Section: Basic Section 07040:Economic policy-related
• Research Institution: Kobe University
• Principal Investigator: Mizuno Tomomichi 神戸大学, 経済学研究科, 教授 (60589315)
• Project Period (FY): 2020-04-01 – 2023-03-31
• Keywords: 垂直的市場 / 株式保有

Outline of Final Research Achievements

In this study, I analyzed the effects of stock ownership in vertical markets. The key finding of this study is that input price discrimination is known to have an anticompetitive effect, but this anticompetitive effect may disappear when downstream firms have stockholdings. In addition, as studies related to this research project, I studied the characteristics of vertical markets and obtained some secondary results. Some of the studies conducted under this research project have been summarized as papers and published in peer-reviewed journals. I have also submitted some of the unpublished papers to peer-reviewed journals.

Free Research Field

産業組織論

Academic Significance and Societal Importance of the Research Achievements

競争関係にある企業間の株式保有は，競争を弱める効果を持つことが知られており，社会的に望ましくないと考えられている。本研究では，株式保有に関するそのような理解が正しくない状況を特定することを目指した。実際，社会的に望ましくないと考えられている投入物価格差別は，株式保有を伴うことによって，社会的に望ましい性質をもち得ることを示した。また，本研究課題を進めるにあたって，垂直的市場の様々な性質を分析し，既存研究で知られている性質が成立しない条件を提示した。