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Exclusive Contracts and Market Power: Evidence from Ocean Shipping

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dc.affiliation.dptoUC3M. Departamento de EconomĂ­aes
dc.contributor.authorMarĂ­n, Pedro L.es
dc.contributor.authorSicotte, R.es
dc.date.accessioned2014-05-30T09:41:58Z
dc.date.available2014-05-30T09:41:58Z
dc.date.issued2003-06
dc.descriptionThis is the accepted version of the following article: Marín, P. L. and Sicotte, R. (2003), Exclusive Contracts And Market Power: Evidence From Ocean Shipping. The Journal of Industrial Economics, 51(2), 193–214, which has been published in final form at: http://dx.doi.org/10.1111/1467-6451.00198en
dc.description.abstractThere is a substantial theoretical literature on the potential effects of loyalty contracts, but relatively little empirical work. We employ the event study methodology to examine the competitive effects of exclusionary contracts in the ocean shipping industry, where they were the subject of an extended legal and political struggle. We find that some of the most important events in this conflict caused significant changes in shipping firms' stock returns, indicating exclusive contracts increased their profits. We then examine the effect of these events on net exporting industries' stock returns, and provide evidence that these contracts contributed to carriers' market power.en
dc.description.sponsorshipThe research was supported by Spanish MCYT project SEC1999-1236-C02-02 and the Newcomen Society.en
dc.description.statusPublicadoes
dc.format.extent21
dc.format.mimetypeapplication/pdf
dc.identifier.bibliographicCitationJournal of Industrial Economics (2003), 51(2), 193-213en
dc.identifier.doi10.1111/1467-6451.00198
dc.identifier.issn0022-1821 (print)
dc.identifier.issn1467-6451 (online)
dc.identifier.publicationfirstpage193
dc.identifier.publicationissueJournal of Industrial Economicsen
dc.identifier.publicationissue2
dc.identifier.publicationlastpage214
dc.identifier.publicationvolume51
dc.identifier.urihttps://hdl.handle.net/10016/5363
dc.language.isoengen
dc.publisherBlackwellen
dc.relation.publisherversionhttp://dx.doi.org/10.1111/1467-6451.00198
dc.rights© 2003 Blackwell Publishing Ltd.en
dc.rights.accessRightsopen accessen
dc.subject.ecienciaEconomĂ­aes
dc.titleExclusive Contracts and Market Power: Evidence from Ocean Shippingen
dc.typeresearch article*
dc.type.hasVersionAM*
dc.type.reviewPeerRevieweden
dspace.entity.typePublication
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