The new invisible hand: How common owners use the media as a strategic tool (Record no. 525585)
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| 000 -LEADER | |
|---|---|
| fixed length control field | 02115nam a22001577a 4500 |
| 008 - FIXED-LENGTH DATA ELEMENTS--GENERAL INFORMATION | |
| fixed length control field | 240322b ||||| |||| 00| 0 eng d |
| 100 ## - MAIN ENTRY--PERSONAL NAME | |
| Personal name | Mark Des, Jardine, R. Shi, Wei and Cheng, Xin |
| 245 ## - TITLE STATEMENT | |
| Title | The new invisible hand: How common owners use the media as a strategic tool |
| 260 ## - PUBLICATION, DISTRIBUTION, ETC. (IMPRINT) | |
| Place of publication, distribution, etc | Administrative Science Quarterly |
| 300 ## - PHYSICAL DESCRIPTION | |
| Extent | 68(4), Dec, 2023: p.956-1007 |
| 520 ## - SUMMARY, ETC. | |
| Summary, etc | While research has uncovered an array of visible competitive dynamics, a strategic world of competition lies beneath the surface that should also be theorized and empirically traced. We investigate the strategic consequences of “media–rival” common ownership, in which investors own a media company and a non-media focal firm’s rivals. We posit that focal firms receive worse coverage from media outlets when institutional investors hold substantial ownership in both a media company and the focal firm’s rivals because the investors’ common holdings provide them with incentives and power to enhance the competitiveness of their portfolio firms by tainting the focal firm’s media coverage. We account for three moderators to show that this effect amplifies when investors have stronger incentives and power to influence the media and when media executives have incentives to cater to the interests of their investors. Using a novel dataset on common ownership of rival firms and media companies, we find support for our theory. Our study reveals a new invisible hand underlying competitive markets and offers a new view of the media as a strategic tool. – Reproduced https://journals.sagepub.com/doi/full/10.1177/00018392231192863 |
| 650 ## - SUBJECT ADDED ENTRY--TOPICAL TERM | |
| Topical term or geographic name as entry element | Media–Rival Common Ownership, Competitive Dynamics Strategic Competition Common Ownership Media Company Non-Media Focal Firm Institutional Investors Media Coverage Competitiveness Portfolio Firms Strategic Consequences Incentives Power to Influence Media Executives Novel Dataset Rival Firms Competitive Markets Media as a Strategic Tool |
| 9 (RLIN) | 50796 |
| 773 ## - HOST ITEM ENTRY | |
| Main entry heading | Administrative Science Quarterly |
| 906 ## - LOCAL DATA ELEMENT F, LDF (RLIN) | |
| Subject DIP | MASS MEDIA |
| 942 ## - ADDED ENTRY ELEMENTS (KOHA) | |
| Item type | Articles |
| Withdrawn status | Lost status | Source of classification or shelving scheme | Damaged status | Not for loan | Permanent location | Current location | Date acquired | Serial Enumeration / chronology | Barcode | Date last seen | Koha item type |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Indian Institute of Public Administration | Indian Institute of Public Administration | 2024-03-22 | 68(4), Dec, 2023: p.956-1007 | AR131386 | 2024-03-22 | Articles |