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README Common Ownership and Entrepreneurship.pdf application/pdf 141 KB 04/15/2021 07:53:AM

Project Citation: 

Grennan, Jillian, and Eldar, Ofer. Data and Code for: Common Ownership and Entrepreneurship. Nashville, TN: American Economic Association [publisher], 2021. Ann Arbor, MI: Inter-university Consortium for Political and Social Research [distributor], 2021-07-13.

Project Description

Summary:  View help for Summary This is data and code to accompany the article "Common Ownership and Entrepreneurship."  In the article, we complement the literature on common ownership by presenting two new observations from entrepreneurial startups. First, given the increase in common ownership of startups by VC investors, inclusion of high-value startups in standard common ownership measures may actually increase aggregate measures of common ownership. Second, we suggest that even if public-firm common ownership leads to collusive inefficiency and higher prices in the short-term, it may also create opportunities for entry of innovative, high-growth startups. Consistent with this, we document that entrepreneurial activity and common ownership of startups tends to be higher in industries with higher common ownership among public firms.

Scope of Project

Subject Terms:  View help for Subject Terms Entrepreneurship; Startups; Private Firms; Corporate Governance; Common Ownership; Competition; Innovation; Entry
JEL Classification:  View help for JEL Classification
      G24 Investment Banking; Venture Capital; Brokerage; Ratings and Ratings Agencies
      G32 Financing Policy; Financial Risk and Risk Management; Capital and Ownership Structure; Value of Firms; Goodwill
      L11 Production, Pricing, and Market Structure; Size Distribution of Firms
      L41 Monopolization; Horizontal Anticompetitive Practices
      O31 Innovation and Invention: Processes and Incentives
Geographic Coverage:  View help for Geographic Coverage United States
Time Period(s):  View help for Time Period(s) 1995 – 2012
Data Type(s):  View help for Data Type(s) program source code
Collection Notes:  View help for Collection Notes For those with access to Preqin, we provide a crosswalk between Preqin's definition of industry and the Standard Industrial Classification (SIC).

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