Episode 66: Martin Schmalz on Common Ownership and Firm Behaviour

Martin Schmalz is a Professor of Finance and Economics at Saïd Business School, University of Oxford

The paper discussed in this episode is ‘‘Common Ownership, Competition, and Top Management Incentives”, by Miguel Antón, Florian Ederer, Mireia Giné, and Martin Schmalz. This paper was published in the Journal of Political Economy in 2023.

Some of the data used in this paper, particularly that relating to Firm-pair profit weights for S&P 500 firms and Corporate Ownership of S&P 500 firms are available at https://corporateownershipdata.com/