The article details the increase in buyerconcentration that has occurred throughout themanufacturing sector in recent years and explores itseffects on manufacturers' profitability. The articledevelops a new firm-level data set derived fromSecurities and Exchange Commission (SEC) Form 10-Ksubmissions to explore this topic among 218 firms in19 industries. The article's econometric resultsconflict with economic theory's prediction thatgreater buyer concentration is likely to be associatedwith lower seller profits principally in oligopolisticindustries. To the contrary, the results suggest thatbuyer concentration reduces profitability primarily incompetitive rather than oligopolistic industries.
Review of Industrial Organization – Springer Journals
Published: Oct 16, 2004
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