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Intangibles and industry concentration: supersize me

Bajgar, Matej, Criscuolo, Chiara and Timmis, Jonathan (2021) Intangibles and industry concentration: supersize me. CEP Discussion Papers (1806). Centre for Economic Performance, LSE, London, UK.

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Abstract

This paper presents new evidence on the growing scale of big businesses in the United States, Japan and 11 European countries. It documents a broad increase in industry concentration across the majority of countries and sectors over the period 2002 to 2014. The rising concentration is strongly associated with intensive investment in intangibles, particularly innovative assets, software and data, and this relationship is magnified in more globalized and digital-intensive industries. The results are consistent with intangibles disproportionately benefiting large firms and enabling them to scale up and raise their market shares, increasingly over time.

Item Type: Monograph (Discussion Paper)
Official URL: https://cep.lse.ac.uk/_new/publications/discussion...
Additional Information: © 2021 The Authors
Divisions: Centre for Economic Performance
Subjects: H Social Sciences > HD Industries. Land use. Labor
H Social Sciences > HB Economic Theory
H Social Sciences > HC Economic History and Conditions
JEL classification: E - Macroeconomics and Monetary Economics > E2 - Consumption, Saving, Production, Employment, and Investment > E22 - Capital; Investment (including Inventories); Capacity
L - Industrial Organization > L1 - Market Structure, Firm Strategy, and Market Performance > L10 - General
L - Industrial Organization > L2 - Firm Objectives, Organization, and Behavior > L25 - Firm Performance: Size, Diversification and Scope, Age, Profit, and Sales
Date Deposited: 28 Feb 2022 11:24
Last Modified: 01 Mar 2022 00:03
URI: http://eprints.lse.ac.uk/id/eprint/113851

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