Das wettbewerbliche Risikopotenzial institutioneller Anleger

Scholars and politicians around the world, as well as representatives of competition authorities and financial market regulators, are discussing the importance of indirect corporate links via institutional investors, e.g. the asset managers BlackRock, Vanguard and State Street, for the competition intensity between their portfolio companies. Risk potential arises from the fact that, from the perspective of a co-owner, competition at the expense of a competitor becomes less attractive if the co-owner is also invested in the competitor. Even though risk-curbing measures so far appear premature in terms of their effectiveness and practicability, it is necessary to discuss them because the functionality of the most important foundation of the social market economy is at stake.

Wambach, Achim und John P. Weche (2019), Das wettbewerbliche Risikopotenzial institutioneller Anleger, Wirtschaftsdienst – Zeitschrift für Wirtschaftspolitik 99(8) , 575-581