Partial cross ownership and tacit collusion
研究企业对竞争对手的被动投资如何影响其进行默契合谋的动机，给出了促进合谋的充分必要条件，并分析了企业控制者直接投资竞争对手时的效果。
We examine the effects that passive investments in rival firms have on the incentives of firms to engage in tacit collusion. In general, these incentives depend in a complex way on the entire partial cross ownership (PCO) structure in the industry. We establish necessary and sufficient conditions for PCO arrangements to facilitate tacit collusion and also examine how tacit collusion is affected when firms' controllers make direct passive investments in rival firms .