A growing body of evidence concludes that common ownership caused cooperation among firms to increase and competition to decrease. We take a closer look at four approaches used to identify these effects. We find that the effects the literature has attributed to common ownership are caused by...

We study the lobbying choices of firms that invest in green innovation. Using a novel method to determine the direction of a firm’s lobbying efforts, we find that green innovators are equally likely to lobby in favor of green or brown legislative agendas. To understand why firms’ lobbying...

The rapid growth in index funds and significant consolidation in the asset-management industry over the past few decades has led to higher levels of common ownership and increased attention on the topic by academic researchers. A consensus has yet to emerge from the literature regarding the...