格致经济论坛第三十七期:Upstream Market Structure and Downstream Market Cross Holding

发布者:商学院办公室     时间:2017-11-14

报告题目:Upstream Market Structure and Downstream Market Cross Holding

报告人:曾辰航(副教授,山东大学)

报告时间:2017年11月24日(周五)上午10:30-12:00

报告地点:老图书馆104

邀请部门:商学院经济学系

主持人:杨剑侠

报告内容摘要:This paper studies cross holding in a downstream Cournot oligopoly with different upstream market structures (competitive, monopolistic and oligopolistic). We find that when the upstream market is oligopolistic, the upstream suppliers will strategically respond to the downstream cross holding. This improves the profitability of cross holding, and firms thus engage in cross holding. Meanwhile the upstream suppliers' reaction also stimulates downstream production, which change the welfare implications of the cross holding. Particularly, when the upstream market consists of duopoly and the two firms engaged in cross holding (in downstream market) are supplied by different suppliers, the aggregate industry output increases, as well as the consumer welfare and social welfare. And the firm that is not involved in cross holding, suffers a loss from cross holding when it shares the supplier with the acquired firm in the case of a duopoly upstream market, i.e., the common free-rider in the literature becomes a victim of cross holding.

 

报告人简介:曾辰航,经济学博士,山东大学经济学院副教授,2012年获美国密苏里大学哥伦比亚分校 ( University of Missouri-Columbia) 经济学博士。主要的研究领域为产业组织理论、微观经济理论。近年来其主要的研究问题涉及企业的产品预售定价问题,以及交叉持股对企业长期竞争行为的影响与反垄断政策。曾教授在经济学国际知名期刊发表多篇论文,包括Economics Letters、Pacific Economic Review、Journal of Economics、Managerial and Decision Economics等。曾荣获2015年教育部人文社会科学研究青年基金项目等的资助。

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