How Do Capital Markets Influence Product Market Competition?

How Do Capital Markets Influence Product Market Competition? This article is the written version of the author's keynotepresentation to the inaugural International IndustrialOrganization Conference held in Boston on April 4–5, 2003.It summarizes selectively a literature on the interaction betweenthe capital and product markets at the nexus of industrialorganization and corporate finance, and develops two key insights.First, capital market constraints on an individual firm aredetermined at the level of the industry and depend on productmarket competition. Second, capital markets constrain the productstrategy of firms and thereby influence product market performance. http://www.deepdyve.com/assets/images/DeepDyve-Logo-lg.png Review of Industrial Organization Springer Journals

How Do Capital Markets Influence Product Market Competition?

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Publisher
Kluwer Academic Publishers
Copyright
Copyright © 2003 by Kluwer Academic Publishers
Subject
Economics; Industrial Organization; Microeconomics
ISSN
0889-938X
eISSN
1573-7160
D.O.I.
10.1023/B:REIO.0000031370.88761.7d
Publisher site
See Article on Publisher Site

Abstract

This article is the written version of the author's keynotepresentation to the inaugural International IndustrialOrganization Conference held in Boston on April 4–5, 2003.It summarizes selectively a literature on the interaction betweenthe capital and product markets at the nexus of industrialorganization and corporate finance, and develops two key insights.First, capital market constraints on an individual firm aredetermined at the level of the industry and depend on productmarket competition. Second, capital markets constrain the productstrategy of firms and thereby influence product market performance.

Journal

Review of Industrial OrganizationSpringer Journals

Published: Oct 4, 2004

References

  • Do LBO Supermarkets Charge More? An Empirical Analysis of the Effects of LBOs on Supermarket Pricing
    Chevalier, J. A.
  • The Theory of Capital Structure
    Harris, M.; Raviv, A.
  • Increased Debt and Industry Product Markets: An Empirical Analysis
    Phillips, G. M.

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