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In the context of the digital economy, digital technology is an important driving force to promote green development and achieve the "dual-carbon goal". Taking 1746 Shanghai and Shenzhen A-share enterprises from 2015 to 2022 as research objects, we empirically examine the relationship between government subsidies, digital transformation, and corporate green technology innovation. The study shows that (1) there is an inverted "U"-shaped relationship between government subsidies and corporate green technological innovation, while digital transformation plays a mediating role, and there is a difference between the quality and quantity of digital transformation in promoting green technological innovation. (2) Through the analysis of the moderating effect, it is found that market concentration has an obvious inhibitory effect between enterprise digital transformation and green technology innovation. (3) The study, by classifying the nature of enterprises, shows that the promotion effect of digital transformation on green technology innovation is weaker under heavily polluted enterprises than under non-heavily polluted enterprises, but the promotion interval of the relationship between government subsidies and green technology innovation is larger. Therefore, enterprises should make full use of digital technology to inject new impetus into their innovation activities, and the government should fully consider the appropriate space for enterprises to receive subsidies, make reasonable use of the incentive effect of government subsidies, and smooth the information docking channels for government and enterprise subsidies. [ABSTRACT FROM AUTHOR]

Objective Data Setting and Design Data Sources and Analytic Sample Principal Findings Conclusions To examine the response of community health center (CHC) quality to quality levels at neighboring CHCs in the presence of non‐price competition.A quasi‐experimental study of US community health centers. Outcome variables were indices that measured overall quality of CHC care. Using patient flow data, we constructed CHC‐specific Hirschman–Herfindahl index (HHI) and competitors' composite quality measure. The plausibly exogenous change in characteristics of “competitors' competitors” was exploited to identify the relationship between competition and quality of care, using a generalized two‐stage least square model with instrumental variables.Using the Health Center Program Uniform Data System (2014–2018), linked with American Community Survey and Medical Expenditure Panel Survey, we analyzed 1098 unique federally funded CHCs in 50 states and District of Columbia which had at least one neighboring CHC and had non‐missing data for 2015–2018 (4226 CHC‐years).Most of CHCs served populations in overlapping geographic markets, with median market concentration decreasing during the study period. A one‐percent increase in competitors' quality was associated with a 0.71‐percent increase in an index CHC's composite quality (p < 0.01), consisting of a 0.59‐percent increase in chronic condition control rates (p < 0.01); a 0.68‐percent increase in the screening and assessment rates (p < 0.01); and a 0.78‐percent increase in medication management rates (p < 0.01). The association was stronger at CHCs serving a smaller proportion of uninsured patients. No significant quality reaction was observed at CHCs with a percentage of uninsured patients larger than the 75th percentile. We observed no significant associations between HHI and quality.Increasing competition does not harm quality of care at CHCs. A CHC appears to improve its quality if its competitors improved quality. The beneficial quality effect was less pronounced in CHCs providing a significant proportion of care to uninsured patients, suggesting lack of incentives faced by these CHCs. [ABSTRACT FROM AUTHOR]

Purpose – This study aims to explore the interplay between market concentration and implicit tax burdens in Brazil, offering a fresh perspective on the conventional belief of perfect competition. Design/methodology/approach – Data was sourced from Brazilian firms on the B3 stock exchange between 2011 and 2021. Multiple linear regression techniques were employed to analyze the relation of explicit tax rates to firms’ pre- and post-tax returns. Findings – Dominant firms in the market tend to bear a lower implicit tax burden and have the capacity to extend tax incentive benefits to shareholders. Research limitations/implications – The findings highlight Brazil’s intricate corporate tax fabric, particularly regarding implicit taxes. They provide a foundation for deeper inquiries into how market dominance, taxation policies, and corporate strategies converge. Practical implications – Regulators and business leaders can harness this knowledge to recalibrate tax strategies and market regulations. Specifically, a closer examination of the dynamics that permit reduced implicit tax implications in monopolized markets is essential for equity. Social implications – Companies with pronounced market concentration can mitigate their implicit tax burdens, potentially offloading them to consumers and suppliers. This points to potential inequities in current tax structures. Originality/value – This research unveils nuanced insights into Brazil’s multifaceted interrelations between corporate influence, taxation strategies, and market forces.

Abstract Background The Brazilian supplementary health market has undergone transformations in recent years due to constant mergers and acquisitions of by large corporations, contributing to the increase in market concentration, especially in the poorest and least developed regions of the country. Thus, given the care it provides and its economic relevance, understanding the fundamentals of these movements, the likely consequences and trends for the health market are relevant, important, and strategic. Objective To understand the general and specific context of Brazilian supplementary health, its scenarios, and trends, with emphasis on the analysis of market concentration and recent mergers and acquisitions. Methodology The research is applied, descriptive and exploratory and uses secondary data from various sources, submitted to quantitative data analysis methods. The data are organized into three groups: historical and regulatory documents; industry data; and market. Results The results show the growing concentration of the market promoted by large publicly traded corporations, the growing relevance of tech startups on the healthcare landscape, the predominant use of the relative valuation model, with implicit multiples for asset pricing and the prevalence of corporate health plans. Conclusion The growing concentration of the system projects a market with fewer options and less competitiveness, since the growth of large operators is evident, in addition to the relevant increase in the number of complaints from users of the system, which signals the growing gap between the expectations of users and the levels of quality care offered. The study also highlights the predominance of corporate health plans, revealing the direct relationship between access to supplementary health services and employability rates. The analysis of M&A operations, in addition to the increase in market concentration, reveals the prevalence of the use of the relative valuation model and implicit multiples for the pricing of traded assets. This denotes the future expectation of wealth generation, at least equivalent to the historical series of the sector, on the part of investors, whose frustration may signal the decreasing attractiveness of resources and M&A operations in the sector in the coming years.

Purpose – This study aims to analyse the effect of competition on retail fuel prices in a small European Union (EU) country with high market concentration. Design/methodology/approach – The researchers use a panel data set to estimate a fuel price equation that includes supply and demand factors as well as time-fixed effects. Findings – The study finds that more competitors in the local market decrease prices, whereas the high market share of oligopoly brands does not condition this effect. Additionally, independent brands set lower prices than wholesalers, and gas stations located near the borders of almost all neighbouring countries are associated with higher prices. Research limitations/implications – The study suggests that Slovenia’s retail fuel market maintains competitive pricing despite high oligopolistic shares because of historical regulatory influences that shaped firm behaviour and pricing strategies, along with geographical and economic factors such as Slovenia’s role as a transit country. External competitive pressures from neighbouring countries and high levels of traffic, combined with the remnants of regulatory structures, help prevent market abuses and keep fuel prices lower than in other EU countries. Practical implications – It also indicates that policy should encourage fiercer competition in the local market by increasing the density of gas stations, especially from independent brands. Originality/value – These findings may be associated with specific country characteristics. This paper introduces unique findings that shed light on the impact of a small market on competition, with a particular focus on highlighting the effect of oligopolistic brands.

Market concentration is associated with higher prices. However, previous research has not considered whether the market concentration effect on prices is moderated by seasonality in markets where firms switch from peak demand to low demand periods. This study analyzes market concentration effect on prices and price variability in the hotel industry. Through hedonic price models, the paper analyzes the influence of market concentration on hotel prices and how quality, distance to the city center or seasonality influence hotel prices. A higher market concentration is associated with higher prices. The effect of market concentration on prices is 1.7 times higher in the peak demand season than in the low demand season. Price variability between hotels for a given day in a particular market is partially explained by differences in service quality among hotels in the same city but also by the level of market concentration. We find that higher market concentration reduces price variability, a result consistent with the existence of tacit collusion. [ABSTRACT FROM AUTHOR]

This paper examines the environmental, social, and governance (ESG) requirements for an industry in an n‐oligopolistic model and investigates the relationship between the degree of industry concentration and the degree of ESG requirements. It is shown that the factors influencing the degree of ESG requirements include the number of firms, the elasticity of market demand, and the market concentration ratio. In the case of linear market demand, the degree of requirements is negatively affected by firm number only, regardless of the elasticity of market demand or market concentration ratio. In addition, the degree of ESG requirements is positively (negatively) related to the industry profit/concentration, when market demand is convex (concave). This paper demonstrates that the degree of ESG requirements is sensitive to firm number, market demand, and market concentration ratio and serves as a pragmatic reference for the government. [ABSTRACT FROM AUTHOR]

Our study, using statistical methods, provides empirical evidence to support the hypothesis that in order to get as close as possible to “human scale development”, as proposed by Max-Neef and colleagues in 1986 (English version 1991), we need to get as close as possible to the microeconomic ideal of so-called perfect competition, a situation in which many small and medium-sized enterprises compete with each other, while the GDP growth rate does not seem to be directly related to development. The ideal of “perfect competition” is part of the repertoire of classical economic theory. Few adherents of classical economic theory manage to build a bridge between economic theory and wellbeing when wellbeing is defined in terms of fundamental human needs, as Max-Neef & colleagues have done in their Human Scale Development approach. On the other hand, the adherents of Max Neef’s theory would, at first sight, usually not agree with the assumption, proven in our paper, that competitive markets are a way to get closer to human scale development, i.e. development where people can best satisfy fundamental human needs. Our paper tries to help bring both positions together.

Objectives: Optimizing the pharmaceutical industrial structure is the key mission of China’s healthcare reform. From the industrial structure perspective, this study empirically evaluated the impact of China’s national volume-based procurement (NVBP) policy on market concentration in the hospital-end drug market. Methods: This study used drug procurement data of China’s public medical institutions which obtained from the national database. A quasi-natural experiment was designed involving eleven pairs of matched treatment-control region combinations, with NVBP policy as the intervention measure. The market was defined by drug name (molecular boundary) and city/province (geographical boundary). Market changes were measured from three dimensions: the number of enterprises and products, market share, and Herfindahl-Hirschman index (HHI). Dual comparison approach and difference-in-difference (DID) method with fixed effect model were applied to quantify policy impacts. Results: The number of enterprises and products decreased by 18 and 83 in pilot regions after NVBP policy, far more than the decreases in control regions (6 and 21). The accumulative market share of 15 bid-winning enterprises increased by 53.67% in volume and 18.79% in value, among which the increment of enterprises with low baseline market share was more prominent (66.64% and 36.40%). Among three enterprise types, the market share of generic consistency evaluation (GCE) certificated generics significantly increased, GCE uncertificated generics significantly decreased, and originators slightly decreased. DID models indicated significantly positive impact of NVBP policy on market concentration, with HHI-volume and HHI-value increasing by 49.33% (β = 0.401, p < 0.01) and 21.05% (β = 0.191, p < 0.01). Conclusion: The implementation of NVBP promoted the intensive drug circulation and supply of Chinese public hospitals, intensifying the exit of GCE uncertificated generics from the hospital-end market. NVBP combined with GCE standards significantly improved market concentration, which brought a positive signal of pharmaceutical industrial structure optimization in China. In the future context of normalized and institutionalized NVBP, the balance should be further sought between low drug prices and reliable hospital drug supply, sustainable industry development. [ABSTRACT FROM AUTHOR]

In recent years, as China's economy has grown at a rapid pace and social welfare has increased dramatically, environmental issues have become increasingly prominent. Whether companies undertaking digital transformation will improve the environmental performance has drawn the focus of scholars. For this reason, this paper uses the microfirm data of China's manufacturing industry from 2011 to 2020 to explore the relationship between corporate digital transformation (CDT), market competition, and environmental performance, as well as its external mechanism. The study has found that in the analysis of environmental performance measured by firms' pollution emissions, the improvement of the level of CDT shows a nonlinear trajectory in its impact on environmental performance. With a highly centralized market environment, the impact of CDT on environmental performance is further diminished. By analyzing the variability of the degree of market competition, the CDT can promote the environmental performance by enhancing market competition (reducing market concentration). In addition, from the perspective of source reduction, the CDT also advances the environmental performance. The research conclusions contribute to the study of environmental performance, which can guide the transformation from end‐of‐pipe pollutant emissions to source reduction to promote the sustainable development of enterprises. [ABSTRACT FROM AUTHOR]

Purpose: Academic research has intensively analyzed the relationship between market concentration or market power and banking stability but provides ambiguous results, which are summarized under the concentration-stability/fragility view. We provide empirical evidence that the mixed results are due to the difficulty of identifying reliable variables to measure concentration and market power. Design/methodology/approach: Using data from 3,943 banks operating in the European Union (EU)-15 between 2013 and 2020, we employ linear regression models on panel data. Banking market concentration is measured by the Herfindahl–Hirschman Index (HHI), and market power is estimated by the product-specific Lerner Indices for the loan and deposit market, respectively. Findings: Our analysis reveals a significantly stability-decreasing impact of market concentration (HHI) and a significantly stability-increasing effect of market power (Lerner Indices). In addition, we provide evidence for a weak (or even absent) empirical relationship between the (non)structural measures, challenging the validity of the structure-conduct-performance (SCP) paradigm. Our baseline findings remain robust, especially when controlling for a likely reverse causality. Originality/value: Our results suggest that the HHI may reflect other factors beyond market power that influence banking stability. Thus, banking supervisors and competition authorities should investigate market concentration and market power simultaneously while considering their joint impact on banking stability. [ABSTRACT FROM AUTHOR]

This study aims to present research results on the competition on the bread market of Kyiv and its region to identify strategic development directions, considering changes in consumer needs during economic and geopolitical turbulence. The research methods included: socio-economic analysis to assess the impact of turbulence on the bread market in Kyiv and its region; statistical analysis to quantify and compare market parameters with those in Ukraine; index method to evaluate market concentration; SLEPT analysis to examine external factors affecting the market during turbulence; and other methods. The pandemic transformed the bread market due to rising prices, increased demand, and disrupted logistics. During the war, infrastructure destruction, grain theft, and consumer migration led to a decline in bakery production, changes in value chains focusing on security, and rising selling prices. The issues like delayed payments and a shift to online sales have emerged. Regionalization of bread markets increased, with producers concentrated in 1-2 regions, defining local supply and prices. The market shifted from weakly to highly concentrated in 2022, becoming moderately concentrated in 2023. Core players, such as Kyiv BCC LLC and Kyiv Regional Bak Complex LLC, showed resilience, while income differentiation remained average. A trend towards organic products, driven by safety concerns, has also been noted. The results of this study are relevant to participants of regional bread markets who aim to implement marketing strategies during periods of turbulence. The findings assess the economic situation on the bread market of Kyiv and its region, highlighting potential strategic development directions for producers during wartime based on marketing and logistics principles. [ABSTRACT FROM AUTHOR]

This article examines sport/discipline-specific market concentrations in the context of the eight Summer Olympic Games held between 1992 and 2020. Three market concentration-related debates underpin this study: (1) the number of competing firms; (2) market size; and (3) time. A normalized version of the Herfindahl-Hirschman Index (HHIN) is calculated for gold medal and medal concentrations for all 42 sports/disciplines. The analyses included panel data models and Pearson correlations. The main findings are that (1) market concentrations for (gold) medals within most sport/disciplines have not significantly declined over time; and (2) neither an increased number of competing National Olympic Committees (NOCs) nor increased market size is likely to have impacted market concentration within a sport/discipline. The findings advance the understanding of market concentration trends and have implications for elite sport practitioners including the International Olympic Committee (IOC) and International Federations (IFs) in terms of an evaluation of existing measures introduced to promote competitive balance, and NOCs in terms of resource distribution among sports/disciplines and prioritization strategies. [ABSTRACT FROM AUTHOR]

The air transport market in Africa is regulated and viable for designated carriers. Although there are some sub-regional liberalizations, airlines primarily compete based on the specifications of bilateral air service agreements. However, this competitive landscape has not been thoroughly investigated. This study examines market concentration in the African aviation industry and explores its impact on the output of African airlines. The competition was measured at the airport level using the Herfindahl-Hirschman index. Panel data were drawn from 54 countries, 339 airports, and 221 airline groups for the period 2015–2019. Kernel density estimation shows that the region’s market for air transport services is fragmented, with many small airlines. Strong competition is more prevalent at larger hub airports, airports near tourist destinations, and major airports far from larger African hubs, while markets tend to be concentrated where dominant and protected flag carriers operate. Competition is also low or limited at smaller airports offering limited flights. The results of panel regression analysis reveal a nonlinear relationship between market concentration and airline output, as strong competition may limit airlines’ output, and high concentration may promote a dominant airline or alliance that may hinder other airlines from entering or remaining in the market.

First paragraph: The government and the press in the United States tend to define corruption narrowly as the misbehavior of individual politicians. They turn a blind eye to systematic corruption such as, for example, the wealthiest people and corporations using campaign contributions to buy political influence. A politician who takes a cash bribe in exchange for a political favor might be deemed corrupt. In contrast, a politician who derails a piece of legislation after receiving a large campaign con­tribution is operating within the limits of the U.S. campaign laws and is, therefore, not deemed corrupt. . . .

Background: Socio-demographic changes increase the need for long-term elderly care. Consequently, providing formal institutional service in elderly care homes is an interesting opportunity for entrepreneurs. However, the entry strategy decision is influenced by numerous external variables. Purpose: The main goal is to answer what determines market concentration as one of the most important market entry determinants. Study design/methodology/approach: A linear regression model has been formed and tested on the Croatian elderly care home market, observed on a county level, using data for 2021. Further, a cluster analysis, as a decision-support tool, has been made to assess market characteristics that are more likely to attract new entrants to the elderly care home market. Findings/conclusions: Results indicate that demand for long-term care services plays a significant role, and the market with more elderly will attract more competitors. When the level of GDP per capita and the unemployment rate are observed together, markets with stronger economies tend to attract entrepreneurs. In other words, it is more likely that someone will open an elderly care home in a densely populated county with individuals that can afford formal institutional long-term care for themselves or family members. Limitations/future research: The shortcomings are mainly related to the lack of data on prices and quality measures. Further, information on the number of beds in each elderly care home would enable an alternative calculation of the Herfindahl-Hirschman index, while data on service prices and structure of employees as a proxy for quality (medical and non-medical staff) would enable a more reliable comparative analysis of obtained results. Future studies on this subject include variables related to the portion of unemployed females in the market since female family members more often provide informal care, and at the same time, they are more likely to be employed in formal long-term care institutions.

In the context of the digital economy, digital technology is an important driving force to promote green development and achieve the “dual-carbon goal”. Taking 1746 Shanghai and Shenzhen A-share enterprises from 2015 to 2022 as research objects, we empirically examine the relationship between government subsidies, digital transformation, and corporate green technology innovation. The study shows that (1) there is an inverted “U”-shaped relationship between government subsidies and corporate green technological innovation, while digital transformation plays a mediating role, and there is a difference between the quality and quantity of digital transformation in promoting green technological innovation. (2) Through the analysis of the moderating effect, it is found that market concentration has an obvious inhibitory effect between enterprise digital transformation and green technology innovation. (3) The study, by classifying the nature of enterprises, shows that the promotion effect of digital transformation on green technology innovation is weaker under heavily polluted enterprises than under non-heavily polluted enterprises, but the promotion interval of the relationship between government subsidies and green technology innovation is larger. Therefore, enterprises should make full use of digital technology to inject new impetus into their innovation activities, and the government should fully consider the appropriate space for enterprises to receive subsidies, make reasonable use of the incentive effect of government subsidies, and smooth the information docking channels for government and enterprise subsidies.

This study quantitatively investigates the collaborative framework and competitive landscape of Thailand's evolving music industry, driven by technological progress and changing consumer preferences. By examining data obtained from Thailand's Department of Intellectual Property, specifically 138,868 songs, it explores the complex network of relationships among music creators, artists, and various rights-holders, including those associated with recording, music, melodies, and lyrics. Utilizing social network analysis, this research uncovers a power law distribution in these networks, reflecting a scale-free market configuration. This characteristic is marked by a few dominant players exercising considerable market influence, contrasted with numerous less-interconnected participants. This investigation notes regular patterns of collaboration between artists and different rights-holders. Furthermore, the network of music creators displays small-world properties, with short collaborative distances fostering efficient information exchange and creative synergy. Crucially, this study identifies key influential players instrumental in directing the industry's major trends, highlighting their role in market concentration. These significant findings will provide critical evidence for informing future policy development aimed at improving efficiency and equity in the digital content industries. [ABSTRACT FROM AUTHOR]

The aim of the study is to identify the specifics of the competitive environment in the bread and bakery products market and evaluate the prospects for the development of bakery enterprises under the influence of COVID-19 and full-scale invasion. The analysis of the operating environment of enterprises in the Ukrainian bread and bakery products market revealed a number of key factors influencing their activities and competitiveness. The concentration on factors such as stable production, reliable logistics, the presence of a wide range of products, and active foreign economic activity underscores the importance of adhering to a developed and well-organized bakery sector to ensure food security in the country. The state of the bread and bakery products market during periods of turmoil (COVID-19 pandemic and war) has been investigated. The dynamics of key market parameters for bread and bakery products in Ukraine for the period 2015-2021 were analyzed. An analysis of the dynamics of import costs and export income of bakery products in Ukraine for 2016-2022 was conducted. The level of competition in the bread and bakery products market was evaluated using quantitative concentration indicators such as: the Herfindahl-Hirschman Index, the Linda Index, the Gini Index. Based on the results of market concentration assessment in 2021, it was found that "Breadprom Concern", LLC KVF "ROMA", LLC "Kyiv Bread" entered the core of the analyzed market; in 2022 - Breadprom Concern", LLC KVF "ROMA", LLC "Kyiv Bread" and LLC "Kyiv Regional Bakery Complex". SWOT analysis was used to identify internal strengths and weaknesses, as well as external factors influencing the bakery production sector. [ABSTRACT FROM AUTHOR]

The paper proposes an analysis of the local gastronomic services market in Romania. The growing interest in culinary tourism through Local Gastronomic Points is evident both globally and nationally. Gastronomic tourism can provide unique culinary experiences, especially in rural households. Clarivate, Google Scholar, and Research Gate articles were used for bibliographic research. The necessary data for the research were selected from the reports of the National Agency for Mountain Areas and the statistics of the National Veterinary Sanitary and Food Safety Authority. The information was statistically processed and graphically represented. The assessment of market concentration was conducted using the Herfindahl-Hirschman and Gini-Struck indices. The research results highlighted the dynamism of the sector against the backdrop of the COVID-19 pandemic but also revealed some deficiencies at the local authorities' level. HHI and GSI values indicate a low market concentration at the county level. Local Gastronomic Point businesses have high development potential, significantly contributing to increasing people's income and rural area development. [ABSTRACT FROM AUTHOR]

The paper proposes an in-depth analysis of Romania's agrotourism services market, highlighting its evolution and regional/counties concentration. Romania, renowned for its cultural and touristic diversity, employs agrotourism to facilitate authentic interactions with local communities, offering insights into native culture. Utilizing Clarivate, Google Scholar, and Research Gate databases, the research employs statistical processing and graphical representation. Market concentration is gauged using the Herfindahl-Hirschman and Gini-Struck indices. Findings reveal a dynamic national sector with an annual growth rate surpassing 10%. Regionally, concentration levels are notably high, with the North-West, Center, North-East, and South-East collectively contributing over 75%. Countylevel concentration is moderate, indicating potential development even in areas with untapped resources. Romanian authorities actively promote agrotourism, capitalizing on rural development potential. [ABSTRACT FROM AUTHOR]

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ABSTRACTThis paper investigates whether local banking market structure affects regional entrepreneurship, measured by new firm formation. Considering provincial data over the period 2011–21 in Italy, we found that bank concentration and firm formation had an inverted ‘U’-shaped relationship. Lower levels of bank concentration fostered firm formation, but above a market share of about 58% for the largest banks, which is seen in the South and some peripheral and inner areas of central and northern Italy, increased concentration reduced firm formation. However, the presence of local banks is beneficial for the birth of new firms and can reduce the negative impact of high concentration. These findings suggest that banking market structure plays an important role in shaping regional entrepreneurship.

The enormous personal data breach of recent years is pushing regulators to tighten control over big data. The paper aims to analyse changes in big data regulation in Russia, and its possible effects on the competitive environment and economic performance of digital markets. New institutional economics theory, as well as some elements of law economics and industrial organization theory constitute the theoretical framework of the study. The research methods include comparison of structural alternatives and economic and statistical analysis. The empirical evidence covers 2021 data by Russia’s Federal State Statistics Service (Rosstat). The results of the study demonstrate that strengthening regulation of personal data (1) will widely affect all businesses involved in big data processing in all sectors of the economy, (2) will reduce innovation activity and investment attractiveness of digital markets in the short term, (3) will have a negative impact on small and medium-sized businesses. The statistical analysis indicates that there is room for applying an industry-wide approach, primarily ‘framework’ regulation, to big data markets. The research findings can be used by the regulator when developing or altering big data legal standards to prevent adverse economic implications.

The research compares three different market concentration metrics (Concentration Ratio, Herfindahl–Hirschman Index, and Gini Coefficient) over the share of revenue (market share) and their application in consumer packaged goods markets. The metrics are further extended into measuring the share of the ownership of brands and stock-keeping units, to provide further insights into the nature of market competition. These metrics are reported across 16 categories between 2010 and 2014 from the United Kingdom. The Concentration Ratio results show an average market share of 88% going to the top 10 manufacturers, despite accounting for 19% of all manufacturers on average. Similarly, Gini Coefficients show large disparities in revenue shares across manufacturers (0.85), while the Herfindahl–Hirschman Index classifies most markets as being moderately concentrated. The research highlights the advantage of observing multiple metrics in measuring market concentration, as a single metric is unlikely to convey the nature of market competition. The results show Concentration Ratio for the top 4 or top 10 to be good proxies for Herfindahl–Hirschman Index, while the top 10% or top 20% market concentration can be used as proxies for Gini Coefficients due to their strong positive correlations. Rather than applying onerous Herfindahl–Hirschman Index and Gini Coefficient calculations and requiring the details for all competing entities as required, the result enables researchers and industry practitioners to diagnose the state of the competition by simply calculating the aggregate market share of the top N and the top N% manufacturers. [ABSTRACT FROM AUTHOR]

In the context of the fact that the structure of the Vietnamese banking market has undergone many fluctuations, which has had an impact on banking activities, and the fact that many related studies have been carried out, but the answer is still limited and inconsistent, it is necessary to study the impact of the market structure on banking operations in Vietnam. The paper comprehensively examines the impact of market structure on various aspects of bank performance in Vietnam. The study uses three measures of the structure of the banking industry, namely, the total market share of the largest banks, the squared market share of all banks according to the Herfindahl-Hirshchman index, and the Lerner index on market power (inverse bank competition), to ensure the results are not dependent on any specific measure. The paper applies the two-step system generalized method of moments estimator to conduct regression analysis for a sample of 30 banks from 2007 to 2021. All obtained estimates generally show positive effects on bank performance due to greater market power and higher banking concentration. Concretely, more market power and greater concentration improve bank asset quality, management efficiency, bank profitability, and lending capacity. Overall, the findings of this paper all support the bright side of less competition and more concentration, which is essential to derive policy implications related to supervising competitive environments and stimulating consolidated financial systems. AcknowledgmentThis study is part of Thi Mai Phuong Duong’s PhD dissertation at the Ho Chi Minh University of Banking under the supervision of Van Dan Dang.

This paper investigates whether local banking market structure affects regional entrepreneurship, measured by new firm formation. Considering provincial data over the period 2011–21 in Italy, we found that bank concentration and firm formation had an inverted ‘U’-shaped relationship. Lower levels of bank concentration fostered firm formation, but above a market share of about 58% for the largest banks, which is seen in the South and some peripheral and inner areas of central and northern Italy, increased concentration reduced firm formation. However, the presence of local banks is beneficial for the birth of new firms and can reduce the negative impact of high concentration. These findings suggest that banking market structure plays an important role in shaping regional entrepreneurship. [ABSTRACT FROM AUTHOR]

While previous studies have discussed how much should be given by firms, less is known about how firms would spend these investments, such as strategically allocating these philanthropy activities across geographic markets. This study examines the impact of multimarket contact on corporate philanthropy in different geographic markets. Using Chinese property insurance firms from 2007 to 2015 as samples, the results show that firms are less likely to initiate philanthropy activities in geographic markets with high multimarket contact. We also found that the negative impact of multimarket competition on corporate philanthropy is stronger in highly concentrated markets. Moreover, this negative relationship is stronger when institutional distance at a firm level is low. Our study contributes to the literature on corporate philanthropy and multimarket contact. [ABSTRACT FROM AUTHOR]

Using a macro-level dataset covering 173 countries from 2000 to 2020, this study is the first attempt to examine how income diversification and market concentration are related to bank stability. Firstly, we document that bank stability is positively related to revenue diversification, suggesting that banks are more stable when they are more engaged in non-traditional activities. Secondly, market concentration is positively associated with bank stability, in line with the concentration-stability hypothesis that banks in a highly concentrated banking system are more likely to be more stable. Thirdly, we show that market concentration modifies the link between revenue diversification and bank stability. Specifically, it is shown that diversified banks are more stable in a more concentrated environment compared to those on a less concentrated market. These results are robust to multiple regression specifications with different proxies for bank stability and income diversification. [ABSTRACT FROM AUTHOR]

The Hilmer Review and National Competition Policy reforms were an important part of the 1990s productivity surge and have been estimated to have delivered a permanent 2.5 per cent lift in GDP. I outline the key elements of these reforms and identify seven lessons for modern competition reformers. In the 2020s, with the startup rate falling and market concentration rising, boosting competition is one way of increasing productivity and improving the dynamism of the Australian economy. [ABSTRACT FROM AUTHOR]

Developing countries are noted for higher interest margins, and banking in Africa has recently witnessed the rise of African regional banks with a Pan-African ambition and the quest to modify the banking landscape. So far, the banking literature has received little attention regarding the determinants of net interest margin (NIM) of commercial banks in Africa, and the empirics across domestic, regional African, and non-African banks has not been studied either. Thus, we fill this lacuna by analyzing the intermediation margins of commercial banks across Africa while detailing the determinants for the three banking groups. We employ annual data of 552 commercial banks for eight years (2011 to 2018) across fifty-two African countries. The results of the study indicate that bank intermediation margin in Africa is a function of pure spread variables (bank concentration, credit risk, risk aversion, interest rate volatility), income from non-traditional banking activities, specialization, other bank-specific (transaction size, operating cost) and macro-economic variables (financial innovation and GDP). The results also suggest that there are some similarities and nuances for the determinants of bank intermediation margins across the domestic, regional African, and non-African banks. The results obtained have significant policy implications for bank regulation and financial sector development. [ABSTRACT FROM AUTHOR]

This study investigates how market concentration (MC) and institutional quality (IQ) influence bank stability in developing nations, focusing on 80 banks in the ASEAN 4 countries (Indonesia, the Philippines, Malaysia, and Thailand) from 2006 to 2019. The study utilises the generalised method of moments technique to address concerns related to autocorrelation and endogeneity. The findings of the research are noteworthy. Firstly, a positive correlation between bank stability and market concentration is established, supporting the concentration-stability hypothesis. Banks operating in highly concentrated markets tend to exhibit higher stability compared to those in less concentrated markets. However, negative coefficients on square market concentration suggest a potential inverted U-shaped relationship, indicating that market concentration enhances bank stability up to a certain threshold. Secondly, the study highlights the significant impact of institutional quality on bank stability within the ASEAN 4 region. Furthermore, the study found that institutional quality might mitigate the influence of market concentration on bank stability. These results underscore the importance of a well-defined strategy for bank managers and bankers. When market concentration reaches a specific threshold, optimal bank stability is observed, and higher institutional quality contributes to improved bank stability. This research pioneers examining the effects of banking system market concentration and institutional quality on the stability of ASEAN 4 banks. [ABSTRACT FROM AUTHOR]

We show that a horizontal merger can have differential price effects on customer segments depending on their supplier switching costs.

Foreign direct investment (FDI) is an important factor in economic development. The impact of FDI on the host country is achieved by transferring capital, knowledge, technology, organisational structure, and strategies. In addition, FDI affects the condition of competition in host country markets, which is the focus of this study. Our purpose is to estimate the impact of FDI on market concentration and competition conditions using the example of the Serbian banking market. The autoregressive distributed lag (ARDL) approach was used to test the long- and short-run relationship between market concentration, FDI, and the number of banks from Q4 2004 to Q2 2019. The results suggest that increases in FDI volume reduce the Serbian banking market’s concentration level in the long and short run. On the other hand, a decrease in the number of banks leads to an increase in market concentration in the long and short run. Our study’s recommendation for competition authorities is to pay more attention to the concentration of undertakings, especially in financial sectors such as the banking market. The process of concentration of undertakings carries a high risk of violating competition conditions, and authorities need to mitigate this risk.

The problems of protecting economic competition in the banking system, increasing the efficiency of competition regulation, taking into account the modern realities of digitalization and the widespread use of advanced financial technologies are gaining increasing importance and relevance. An effective state policy in the field of protecting economic competition is the key to effective protection of the interests of banking services consumers. The formation of a fair competitive environment in the banking system of the Republic of Armenia needs increasing the role of the competition authority, to create legal and institutional prerequisites for its effective interaction with the Central Bank of the country. The underestimation of the role of the competition authority of the Republic of Armenia for two decades has led to low rates of detection of anti-competitive agreements and concerted actions, abuse of dominant position, and limited advocacy of competition. Competitive regulation in the sphere of banking services in the Republic of Armenia is of priority importance, taking into account the influence of the banking system on the formation of a favorable business climate and on the development of the national economy. The threat of cartelization of the banking system, the risks of pursuing a coordinated policy by commercial banks, and the conclusion of anti-competitive agreements necessitate the development of effective measures and tools for identifying anti-competitive practices of commercial banks. Far from diminishing the role of the Central Bank in ensuring financial stability, regulating the activities of commercial banks, it is obvious that the role of the competition authority must be increased, since only effective interaction between the two state structures can ensure the formation of a fair competitive environment and effective monitoring of the activities of commercial banks in the context of competition regulation. Based on the analysis of indicators of market concentration of the banking system of the Republic of Armenia, conclusions on the level of development of competition are presented, as well as proposals for improving the efficiency of competition regulation.

I critique recent theoretical and empirical research that suggests that labor markets are not nearly as competitive as has generally been assumed. I argue that no-poaching agreements and covenants not to compete may reduce the number of competitors and thus the wage, but firms are still wage takers. This means the minimum wage will not increase employment. [ABSTRACT FROM AUTHOR]

This study quantitatively investigates the collaborative framework and competitive landscape of Thailand’s evolving music industry, driven by technological progress and changing consumer preferences. By examining data obtained from Thailand’s Department of Intellectual Property, specifically 138,868 songs, it explores the complex network of relationships among music creators, artists, and various rights-holders, including those associated with recording, music, melodies, and lyrics. Utilizing social network analysis, this research uncovers a power law distribution in these networks, reflecting a scale-free market configuration. This characteristic is marked by a few dominant players exercising considerable market influence, contrasted with numerous less-interconnected participants. This investigation notes regular patterns of collaboration between artists and different rights-holders. Furthermore, the network of music creators displays small-world properties, with short collaborative distances fostering efficient information exchange and creative synergy. Crucially, this study identifies key influential players instrumental in directing the industry’s major trends, highlighting their role in market concentration. These significant findings will provide critical evidence for informing future policy development aimed at improving efficiency and equity in the digital content industries.

AbstractThis study investigates how market concentration (MC) and institutional quality (IQ) influence bank stability in developing nations, focusing on 80 banks in the ASEAN 4 countries (Indonesia, the Philippines, Malaysia, and Thailand) from 2006 to 2019. The study utilises the generalised method of moments technique to address concerns related to autocorrelation and endogeneity. The findings of the research are noteworthy. Firstly, a positive correlation between bank stability and market concentration is established, supporting the concentration-stability hypothesis. Banks operating in highly concentrated markets tend to exhibit higher stability compared to those in less concentrated markets. However, negative coefficients on square market concentration suggest a potential inverted U-shaped relationship, indicating that market concentration enhances bank stability up to a certain threshold. Secondly, the study highlights the significant impact of institutional quality on bank stability within the ASEAN 4 region. Furthermore, the study found that institutional quality might mitigate the influence of market concentration on bank stability. These results underscore the importance of a well-defined strategy for bank managers and bankers. When market concentration reaches a specific threshold, optimal bank stability is observed, and higher institutional quality contributes to improved bank stability. This research pioneers examining the effects of banking system market concentration and institutional quality on the stability of ASEAN 4 banks.

This study explores the effect of CEO regulatory focus (i.e., promotion vs. prevention) on corporate social performance (CSP). Given that corporate social activities are an outcome-uncertain risky investment, we propose that CEOs with promotion focus (vs. prevention focus) would actively seek CSP, since promotion focus involves risk-taking propensity and prevention focus involves risk-avoiding behavior. We further propose that such a tendency should be more pronounced, especially when market conditions are uncertain. Using a panel sample of U.S. listed firms and conducting content analysis of CEO letters in annual reports, we found that only promotion-focused CEOs tend to promote CSP, and such a tendency is more salient in tough market conditions where firms face a lower level of munificence and a higher level of stakeholder expectation in the markets. We conclude that promotion-focused CEOs tend to seek hope even when situations are hopeless. [ABSTRACT FROM AUTHOR]

Background: Corporate power has been recognized as an important influence on food environments and population health more broadly. Understanding the structure of national food and beverage markets can provide important insight into the power held by leading corporations. This study aimed to descriptively analyze the structure of the Canadian food and beverage manufacturing and grocery retailing sectors as of 2020/21. Methods: Packaged food manufacturers, non-alcoholic beverage manufacturers and grocery retailers with ≥ 1% market share in 2020/21 in Canada as per Euromonitor International were identified and characterized. Proportion of market share held by public vs private, multinational vs national, and foreign multinational companies was assessed for the 3 sectors. The concentration of 14 packaged food, 8 non-alcoholic beverage and 5 grocery retailing markets was assessed using the Herfindahl–Hirschman Index (HHI) and the four firm concentration ratio (CR4) (HHI > 1800 and CR4 > 60 suggest high market concentration). Company ownership structure was also assessed, including common ownership of public companies by three of the largest global asset managers using data from Refinitiv Eikon, a financial market database. Results: The Canadian non-alcoholic beverage manufacturing sector, and, to a lesser extent, the packaged food manufacturing sector were dominated by foreign multinational companies, in contrast with the grocery retailing sector which was dominated by national companies. Market concentration varied across sectors and markets but was substantially greater within the retailing (median CR4 = 84; median HHI = 2405) and non-alcoholic beverage sectors (median CR4 = 72; median HHI = 1995) compared to the packaged food sector (median CR4 = 51; median HHI = 932). There was considerable evidence of common ownership across sectors. Overall, the Vanguard Group Inc owned at least 1% of shares in 95% of publicly listed companies, Blackrock Institutional Trust Company 71%, and State Street Global Advisors (US) 43%. Conclusions: The Canadian packaged food and non-alcoholic beverage manufacturing and grocery retailing sectors include several consolidated markets, with a high degree of common ownership by major investors. Findings suggest that a small number of large corporations, particularly in the retailing sector, have extensive power to influence Canadian food environments; their policies and practices warrant substantial attention as part of efforts to improve population diets in Canada. [ABSTRACT FROM AUTHOR]

To evaluate changes to hop industry concentration and competitiveness the Herfindahl-Hirschman Index (HHI) was used. The ownership of hop proprietary varieties, their acreage and production were compared with public varieties. Market share for each proprietary hop variety acreage and production was calculated between 2000 and 2020. The quantity of land under centralized control in the U.S. hop industry due to increased proprietary variety acreage between 2000 and 2020 was quantified. Assuming tacit collusion between the participants in the oligopoly, the HHI enabled us to quantify the portion of land under oligopoly control. The HHI analysis of hop acreage and hop production demonstrated that market concentration rose rapidly between the years 2010 (0.0376 and 0.0729) and 2020 (0.4927 and 0.5394). This resulted in decreasing business competitiveness within the market during this period caused primarily by rapid consolidation of ownership during increased proprietary variety acreage and production increases. Calculations revealed that in 2016 a tipping point had been reached concerning market concentration, which resulted in higher sustained season average prices of hops—a key raw material in brewing. [ABSTRACT FROM AUTHOR]

Our work analyzes the biophysical and economic foundations of the Sherwood Plot (SP). In general, the SP depicts the theoretical relationship between the cost of recovering a target material or an identified Value Added Compound (VAC) from a waste matrix and its dilution in the waste matrix; specifically suggesting that the recovery cost is reverse proportional to the VAC's dilution in it. We further utilize the SP as a scientifically consistent and economically coherent analytical framework for measuring resource recovery performance. Initially, we analyze the SP's fundamental physical properties, as well as its many potential economic extensions. Specifically, we substantiate the relation between a VAC's Entropy, Dilution and Recovery Cost. On these grounds we present the SP's remarkable and numerous economic properties that make it consistent to its physical foundations; thus integrating concisely its physical and economic aspects and postulate a generalized SP function. We further test econometrically the validity of an SP based on both deterministic and stochastic real data from a small-scale industrial unit of polyphenols' recovery from natural fruit juice production residual wastewater. In turn, based on the fusion of our theoretical argumentation and empirical findings we dive into the epistemological extensions of the SP. Specifically, we study how the recovery cost structure at the single industry level is revealed by the SP and can be useful for postulating cost structure ontologies. Cost ontologies are in turn useful as a diagnostic of the formation process of VAC recovery markets as well as their structure and concentration, defining the industrial shares when many industries operate in the recovery of the same VAC. [ABSTRACT FROM AUTHOR]

The Chicago School believes that more efficient firms will earn higher profits, leading to higher market concentration. How does this apply to situations in specific industrial environments? The output value and import and export volume of China's wooden furniture industry rank among the highest in the world, but the industry's profit growth rate is decreasing. Is this phenomenon caused by a problem in the growth mode of the industry itself? It is especially important to understand the real characteristics of the industry. The purpose of this study is to discover the characteristics and trends of China's wooden furniture industry and to clarify the direction of the future development of the industry. Market concentration index, data envelopment analysis and Engel-Granger cointegration test were applied to this study respectively. Based on the theory of industrial organization, this study conducted an empirical analysis in three stages. The results show that China's wooden furniture industry is still a labor-intensive industry, the increase in market concentration mainly depends on the expansion of the labor force, and there is a conflict between industrial technological progress and scale expansion. It has also been confirmed in theory that the market structure is affected by efficiency. However, the way and degree of impact depend on the level of industrial development. This study can provide a reference for the formulation and adjustment of macro policies for industrial development, improve the understanding of industry characteristics and trends at the enterprise level to help enterprises achieve transformation, and offer international and domestic investors a reference point for investment decisions at the market level. This study combines macro-level "industry" with micro-level "enterprise" to make the study more comprehensive and systematic, and fills in the gaps in related research in the field. [ABSTRACT FROM AUTHOR]