The Spillover Effects of Changes in Industry Concentration
نویسندگان
چکیده
This paper examines the importance of “spillover” effects of changes in industry concentration among vertically related industries over the period 1978-2006. Specifically, we investigate the timing, magnitude, and direction of the relation between changes in industry concentration across vertically related industries. We document that changes in customer industry concentration are positively related to subsequent changes in supplier industry concentration consistent with the existence of significant spillover effects. While we find evidence that countervailing power motives explain in part the observed relation, we find robust evidence that new entry in vertically related industries is also an important determinant of the observed relation. We also document several interesting patterns in the data regarding the timing and direction of spillover effects.
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