Partial Vertical Integration, Ownership Structure, and Foreclosure
研究了企业收购纵向关联企业的部分股权后，是否有动机排挤竞争对手，发现目标公司的初始所有权结构和公司治理是关键因素。
We study the incentive to acquire a partial stake in a vertically related firm and then foreclose rivals. We show that whether such partial acquisitions are profitable depends crucially on the initial ownership structure of the target firm and on corporate governance.