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Translators are facing worsening working conditions that are compromising their ability to make a living in the language industry. This situation has been attributed to different economic, technological, and professional reasons. An important factor that has not been considered to date which might explain this situation is a possible scenario of market concentration in the language services industry. To assess the validity of this assumption, a dataset on the top 100 language service providers' revenue, market share, relative size, and mergers and acquisition operations for the 2011–2020 period has been compiled and analyzed. The results point to a situation of market concentration and dominance by a few players in the top 100 language services providers segment, while the business landscape for the whole language services industry remains hard to characterize, with only circumstantial data pointing to a possible situation of market concentration and dominance, that would require access to further, more granular data to be determined. [ABSTRACT FROM AUTHOR]

I estimate aggregate and industry-specific elasticities of scale and markups for the U.S. economy over the period from 1980 to 2019 using data on publicly traded companies. I apply Olley–Pakes and Ackerberg–Caves–Frazer estimation methods and find that the aggregate elasticity of scale for the U.S. economy is 1.1 and has been rising. The elasticity of scale in turn serves as an input for calculating industry markups. Increasing returns to scale help explain observed increases in markups over the last decades for broad sectors of the economy. My estimate of 1.2 for the aggregate markup is significantly lower than the estimate of 1.6 found in recent literature. The large disparity in markup estimates stems from differences in the treatment of fixed and variable costs and the methodological approach to the calculation of markups. • The U.S. economy has been experiencing increasing returns to scale. • The elasticity of scale is estimated at 1.1 and it has been rising. • I use Olley and Pakes (1996) and Ackerberg et al. (2015) estimation methods. • Increasing returns to scale can explain industry concentration and markups. • The aggregate U.S. markups have increased from 1.03 to 1.17 from 1980 to 2019. [ABSTRACT FROM AUTHOR]

Purpose – This study aims to analyse the effect of competition on retail fuel prices in a small European Union (EU) country with high market concentration. Design/methodology/approach – The researchers use a panel data set to estimate a fuel price equation that includes supply and demand factors as well as time-fixed effects. Findings – The study finds that more competitors in the local market decrease prices, whereas the high market share of oligopoly brands does not condition this effect. Additionally, independent brands set lower prices than wholesalers, and gas stations located near the borders of almost all neighbouring countries are associated with higher prices. Research limitations/implications – The study suggests that Slovenia’s retail fuel market maintains competitive pricing despite high oligopolistic shares because of historical regulatory influences that shaped firm behaviour and pricing strategies, along with geographical and economic factors such as Slovenia’s role as a transit country. External competitive pressures from neighbouring countries and high levels of traffic, combined with the remnants of regulatory structures, help prevent market abuses and keep fuel prices lower than in other EU countries. Practical implications – It also indicates that policy should encourage fiercer competition in the local market by increasing the density of gas stations, especially from independent brands. Originality/value – These findings may be associated with specific country characteristics. This paper introduces unique findings that shed light on the impact of a small market on competition, with a particular focus on highlighting the effect of oligopolistic brands.

Market concentration is considered a concept that refers to the number of firms in any industry and the distribution of the sizes of these firms. There are two theoretical approaches to the effects of competition in the market on foreign trade. These approaches are the national champion approach and the competitive approach. While both approaches assume that domestic competition is a determinant of the success of industries in global markets, they have different arguments about how competition affects foreign trade. In this study, the effects of the market structure on foreign trade were examined on the industry scale using the panel data analysis method in the context of the Turkish manufacturing industry for the period between 2013 and 2018. In the scope of the contract made with TURKSTAT, the study employed micro-level firm-scale datasets, and the collected manufacturing industry firm data were consolidated at the level of 199 4-digit industries based on NACE Rev.2. According to the results of the static panel data analysis, it was determined that market concentration had positive effects on imports and exports. Furthermore, the economies of scale affected imports and exports negatively, the real effective exchange rate index affected exports negatively, and labor cost affected exports positively. Considering the empirical findings for the Turkish manufacturing industry, it was concluded that SMEs, which had a superior number of firms, were more successful in exports in general compared to larger firms. It is expected that the results of this study will contribute to future studies to be conducted to investigate the effects of competition in markets on global trade. [ABSTRACT FROM AUTHOR]

Market concentration is associated with higher prices. However, previous research has not considered whether the market concentration effect on prices is moderated by seasonality in markets where firms switch from peak demand to low demand periods. This study analyzes market concentration effect on prices and price variability in the hotel industry. Through hedonic price models, the paper analyzes the influence of market concentration on hotel prices and how quality, distance to the city center or seasonality influence hotel prices. A higher market concentration is associated with higher prices. The effect of market concentration on prices is 1.7 times higher in the peak demand season than in the low demand season. Price variability between hotels for a given day in a particular market is partially explained by differences in service quality among hotels in the same city but also by the level of market concentration. We find that higher market concentration reduces price variability, a result consistent with the existence of tacit collusion. [ABSTRACT FROM AUTHOR]

This paper examines the environmental, social, and governance (ESG) requirements for an industry in an n‐oligopolistic model and investigates the relationship between the degree of industry concentration and the degree of ESG requirements. It is shown that the factors influencing the degree of ESG requirements include the number of firms, the elasticity of market demand, and the market concentration ratio. In the case of linear market demand, the degree of requirements is negatively affected by firm number only, regardless of the elasticity of market demand or market concentration ratio. In addition, the degree of ESG requirements is positively (negatively) related to the industry profit/concentration, when market demand is convex (concave). This paper demonstrates that the degree of ESG requirements is sensitive to firm number, market demand, and market concentration ratio and serves as a pragmatic reference for the government. [ABSTRACT FROM AUTHOR]

Objectives: Optimizing the pharmaceutical industrial structure is the key mission of China’s healthcare reform. From the industrial structure perspective, this study empirically evaluated the impact of China’s national volume-based procurement (NVBP) policy on market concentration in the hospital-end drug market. Methods: This study used drug procurement data of China’s public medical institutions which obtained from the national database. A quasi-natural experiment was designed involving eleven pairs of matched treatment-control region combinations, with NVBP policy as the intervention measure. The market was defined by drug name (molecular boundary) and city/province (geographical boundary). Market changes were measured from three dimensions: the number of enterprises and products, market share, and Herfindahl-Hirschman index (HHI). Dual comparison approach and difference-in-difference (DID) method with fixed effect model were applied to quantify policy impacts. Results: The number of enterprises and products decreased by 18 and 83 in pilot regions after NVBP policy, far more than the decreases in control regions (6 and 21). The accumulative market share of 15 bid-winning enterprises increased by 53.67% in volume and 18.79% in value, among which the increment of enterprises with low baseline market share was more prominent (66.64% and 36.40%). Among three enterprise types, the market share of generic consistency evaluation (GCE) certificated generics significantly increased, GCE uncertificated generics significantly decreased, and originators slightly decreased. DID models indicated significantly positive impact of NVBP policy on market concentration, with HHI-volume and HHI-value increasing by 49.33% (β = 0.401, p < 0.01) and 21.05% (β = 0.191, p < 0.01). Conclusion: The implementation of NVBP promoted the intensive drug circulation and supply of Chinese public hospitals, intensifying the exit of GCE uncertificated generics from the hospital-end market. NVBP combined with GCE standards significantly improved market concentration, which brought a positive signal of pharmaceutical industrial structure optimization in China. In the future context of normalized and institutionalized NVBP, the balance should be further sought between low drug prices and reliable hospital drug supply, sustainable industry development. [ABSTRACT FROM AUTHOR]

Using a sample of 7,919 banks from 30 OECD countries over 1995–2019, we examine the impact of low interest rates on banks' net interest margins. Our results confirm a positive relationship between interest rates and interest margins, which is stronger in a low interest rate environment. In more concentrated markets, however, interest margins are less sensitive to the level of interest rates, as interest rate sensitivities of income and expense margins match. But our results also suggest that the effect of market concentration on the link between interest rates and interest margins is weaker when interest rates approach zero. [ABSTRACT FROM AUTHOR]

In recent years, as China's economy has grown at a rapid pace and social welfare has increased dramatically, environmental issues have become increasingly prominent. Whether companies undertaking digital transformation will improve the environmental performance has drawn the focus of scholars. For this reason, this paper uses the microfirm data of China's manufacturing industry from 2011 to 2020 to explore the relationship between corporate digital transformation (CDT), market competition, and environmental performance, as well as its external mechanism. The study has found that in the analysis of environmental performance measured by firms' pollution emissions, the improvement of the level of CDT shows a nonlinear trajectory in its impact on environmental performance. With a highly centralized market environment, the impact of CDT on environmental performance is further diminished. By analyzing the variability of the degree of market competition, the CDT can promote the environmental performance by enhancing market competition (reducing market concentration). In addition, from the perspective of source reduction, the CDT also advances the environmental performance. The research conclusions contribute to the study of environmental performance, which can guide the transformation from end‐of‐pipe pollutant emissions to source reduction to promote the sustainable development of enterprises. [ABSTRACT FROM AUTHOR]

Purpose: Academic research has intensively analyzed the relationship between market concentration or market power and banking stability but provides ambiguous results, which are summarized under the concentration-stability/fragility view. We provide empirical evidence that the mixed results are due to the difficulty of identifying reliable variables to measure concentration and market power. Design/methodology/approach: Using data from 3,943 banks operating in the European Union (EU)-15 between 2013 and 2020, we employ linear regression models on panel data. Banking market concentration is measured by the Herfindahl–Hirschman Index (HHI), and market power is estimated by the product-specific Lerner Indices for the loan and deposit market, respectively. Findings: Our analysis reveals a significantly stability-decreasing impact of market concentration (HHI) and a significantly stability-increasing effect of market power (Lerner Indices). In addition, we provide evidence for a weak (or even absent) empirical relationship between the (non)structural measures, challenging the validity of the structure-conduct-performance (SCP) paradigm. Our baseline findings remain robust, especially when controlling for a likely reverse causality. Originality/value: Our results suggest that the HHI may reflect other factors beyond market power that influence banking stability. Thus, banking supervisors and competition authorities should investigate market concentration and market power simultaneously while considering their joint impact on banking stability. [ABSTRACT FROM AUTHOR]

This study examines whether auditor market power is associated with audit quality. Regulators around the world have repeatedly expressed concerns about the high levels of supplier concentration, the limited number of audit suppliers in the audit market, and the potential adverse consequences of their (alleged) market power. Using U.S. data from 2009 to 2017, we examine the effect on audit quality of two competing measures of auditor market power: (a) a "traditional" market concentration measure (Herfindahl index) and (b) a competing measure derived from spatial competition theory (i.e., market share distance from the closest competitor). Following Aobdia, we infer audit quality from two measures of financial reporting quality: (a) the level of absolute abnormal accruals, and (b) the incidence of financial statement restatements. Our results indicate that industry market share distance is positively associated with audit quality, but we do not find an association between market concentration and audit quality. In addition, we find that the positive association between market share distance and audit quality only holds when the incumbent auditor is a market leader, although industry leadership itself is not significantly associated with audit quality. These findings suggest that audit quality is positively affected by a market leader's industry market share dominance over its competitors rather than by industry specialization per se. JEL Classification : M4; L0 [ABSTRACT FROM AUTHOR]

This article examines sport/discipline-specific market concentrations in the context of the eight Summer Olympic Games held between 1992 and 2020. Three market concentration-related debates underpin this study: (1) the number of competing firms; (2) market size; and (3) time. A normalized version of the Herfindahl-Hirschman Index (HHIN) is calculated for gold medal and medal concentrations for all 42 sports/disciplines. The analyses included panel data models and Pearson correlations. The main findings are that (1) market concentrations for (gold) medals within most sport/disciplines have not significantly declined over time; and (2) neither an increased number of competing National Olympic Committees (NOCs) nor increased market size is likely to have impacted market concentration within a sport/discipline. The findings advance the understanding of market concentration trends and have implications for elite sport practitioners including the International Olympic Committee (IOC) and International Federations (IFs) in terms of an evaluation of existing measures introduced to promote competitive balance, and NOCs in terms of resource distribution among sports/disciplines and prioritization strategies. [ABSTRACT FROM AUTHOR]

Copyright of Investigación Económica is the property of Universidad Nacional Autonoma de Mexico, Facultad de Economia and its content may not be copied or emailed to multiple sites or posted to a listserv without the copyright holder's express written permission. However, users may print, download, or email articles for individual use. This abstract may be abridged. No warranty is given about the accuracy of the copy. Users should refer to the original published version of the material for the full abstract. (Copyright applies to all Abstracts.)

This present research is an effort to link market concentration with market performance measured through total factor productivity (TFP). Using regression analysis for a cross-section of industries in India, we determine the market concentration in selected agri-based and hi-tech sectors and analyse its effect on TFP. Earlier international literature on a linkage between market structure and market performance has mixed results. Some researchers support that high market concentration results in high productivity, while other researchers provide evidence that the above relation is not true. To examine this in detail, this paper investigates the impact of market concentration on TFP, and then makes a comparative analysis of selected agri-based (food products #10: and tobacco and tobacco products #12) and hi-tech sectors (motor vehicles, trailers and semi-trailers #29; chemicals & chemical products #20); in India, with the data covering the period 2006–2017. The results shed light on heterogeneities in the role of concentration on TFP. [ABSTRACT FROM AUTHOR]

Practice consolidation by vertical and horizontal integration is a growing trend in surgery. Practice consolidation has not been previously examined in vascular surgery. The Medicare Provider Enrollment, Chain, and Ownership System data were used to identify vascular providers and vascular surgery practices in the United States in 2015 and 2020. Practices were categorized as solo (1 surgeon), small (2), medium (3-5), and large (≥6). The number of providers and the number of practices in each size group were determined. The Hirfendahl-Hirshman index (HHI), a measure of market consolidation, was calculated. Provider count, practice size, and HHI were additionally analyzed by urban and rural regions. All values were calculated for each time point and compared. Vascular providers increased in number from 2929 to 3154 (7.7%) from 2015 to 2020. The number of practices decreased from 1351 to 1090 (19.3%). The number of large practices increased by 49.4%; the number of small or solo practices decreased by 42.1%. The mean HHI increased from 0.486 in 2015 to 0.498 in 2020. Both urban and rural regions had a decrease in solo practices (43.3% and 2.3%, respectively) and an increase in HHI (from 0.499 to 0.509 and 0.793 to 0.818, respectively). All changes were statistically significant. From 2015 to 2020, there is a trend toward vascular providers working in larger practice groups and a corresponding increase in measures of market consolidation. [ABSTRACT FROM AUTHOR]

The existing empirical literature on export promotion policies is almost exclusively focused on their effects for domestic exporters. This paper contributes to this research by empirically examining the effects of export incentives for third-country exports. Using novel CEPR Global Trade Alert data, the study investigates the impact of Brazilian, Indian and Chinese export incentives on exports of OECD and emerging countries. The findings confirm the existence of negative third-country effects of export incentives and demonstrate that these effects are expectedly larger for foreign exporters who exhibit higher similarity in geography of export with subsidized exporters. These results further point to the importance of destination diversification in export strategies. Following strategic trade theory, the study further examines the moderating effect of industries' proclivity to imperfect competition for third-country effects of export incentives. Whereas Chinese export incentives, as predicted by strategic trade theory, cause largest negative effects in industries with higher proclivity to imperfect competition, Brazilian and Indian export incentives, contrarily, cause larger negative third-country effects in industries with lower proclivity to imperfect competition. [ABSTRACT FROM AUTHOR]

This study quantitatively investigates the collaborative framework and competitive landscape of Thailand's evolving music industry, driven by technological progress and changing consumer preferences. By examining data obtained from Thailand's Department of Intellectual Property, specifically 138,868 songs, it explores the complex network of relationships among music creators, artists, and various rights-holders, including those associated with recording, music, melodies, and lyrics. Utilizing social network analysis, this research uncovers a power law distribution in these networks, reflecting a scale-free market configuration. This characteristic is marked by a few dominant players exercising considerable market influence, contrasted with numerous less-interconnected participants. This investigation notes regular patterns of collaboration between artists and different rights-holders. Furthermore, the network of music creators displays small-world properties, with short collaborative distances fostering efficient information exchange and creative synergy. Crucially, this study identifies key influential players instrumental in directing the industry's major trends, highlighting their role in market concentration. These significant findings will provide critical evidence for informing future policy development aimed at improving efficiency and equity in the digital content industries. [ABSTRACT FROM AUTHOR]

Our study, using statistical methods, provides empirical evidence to support the hypothesis that in order to get as close as possible to “human scale development”, as proposed by Max-Neef and colleagues in 1986 (English version 1991), we need to get as close as possible to the microeconomic ideal of so-called perfect competition, a situation in which many small and medium-sized enterprises compete with each other, while the GDP growth rate does not seem to be directly related to development. The ideal of “perfect competition” is part of the repertoire of classical economic theory. Few adherents of classical economic theory manage to build a bridge between economic theory and wellbeing when wellbeing is defined in terms of fundamental human needs, as Max-Neef & colleagues have done in their Human Scale Development approach. On the other hand, the adherents of Max Neef’s theory would, at first sight, usually not agree with the assumption, proven in our paper, that competitive markets are a way to get closer to human scale development, i.e. development where people can best satisfy fundamental human needs. Our paper tries to help bring both positions together.

First paragraph: The government and the press in the United States tend to define corruption narrowly as the misbehavior of individual politicians. They turn a blind eye to systematic corruption such as, for example, the wealthiest people and corporations using campaign contributions to buy political influence. A politician who takes a cash bribe in exchange for a political favor might be deemed corrupt. In contrast, a politician who derails a piece of legislation after receiving a large campaign con­tribution is operating within the limits of the U.S. campaign laws and is, therefore, not deemed corrupt. . . .

Background: Socio-demographic changes increase the need for long-term elderly care. Consequently, providing formal institutional service in elderly care homes is an interesting opportunity for entrepreneurs. However, the entry strategy decision is influenced by numerous external variables. Purpose: The main goal is to answer what determines market concentration as one of the most important market entry determinants. Study design/methodology/approach: A linear regression model has been formed and tested on the Croatian elderly care home market, observed on a county level, using data for 2021. Further, a cluster analysis, as a decision-support tool, has been made to assess market characteristics that are more likely to attract new entrants to the elderly care home market. Findings/conclusions: Results indicate that demand for long-term care services plays a significant role, and the market with more elderly will attract more competitors. When the level of GDP per capita and the unemployment rate are observed together, markets with stronger economies tend to attract entrepreneurs. In other words, it is more likely that someone will open an elderly care home in a densely populated county with individuals that can afford formal institutional long-term care for themselves or family members. Limitations/future research: The shortcomings are mainly related to the lack of data on prices and quality measures. Further, information on the number of beds in each elderly care home would enable an alternative calculation of the Herfindahl-Hirschman index, while data on service prices and structure of employees as a proxy for quality (medical and non-medical staff) would enable a more reliable comparative analysis of obtained results. Future studies on this subject include variables related to the portion of unemployed females in the market since female family members more often provide informal care, and at the same time, they are more likely to be employed in formal long-term care institutions.

ABSTRACTThis paper investigates whether local banking market structure affects regional entrepreneurship, measured by new firm formation. Considering provincial data over the period 2011–21 in Italy, we found that bank concentration and firm formation had an inverted ‘U’-shaped relationship. Lower levels of bank concentration fostered firm formation, but above a market share of about 58% for the largest banks, which is seen in the South and some peripheral and inner areas of central and northern Italy, increased concentration reduced firm formation. However, the presence of local banks is beneficial for the birth of new firms and can reduce the negative impact of high concentration. These findings suggest that banking market structure plays an important role in shaping regional entrepreneurship.

The enormous personal data breach of recent years is pushing regulators to tighten control over big data. The paper aims to analyse changes in big data regulation in Russia, and its possible effects on the competitive environment and economic performance of digital markets. New institutional economics theory, as well as some elements of law economics and industrial organization theory constitute the theoretical framework of the study. The research methods include comparison of structural alternatives and economic and statistical analysis. The empirical evidence covers 2021 data by Russia’s Federal State Statistics Service (Rosstat). The results of the study demonstrate that strengthening regulation of personal data (1) will widely affect all businesses involved in big data processing in all sectors of the economy, (2) will reduce innovation activity and investment attractiveness of digital markets in the short term, (3) will have a negative impact on small and medium-sized businesses. The statistical analysis indicates that there is room for applying an industry-wide approach, primarily ‘framework’ regulation, to big data markets. The research findings can be used by the regulator when developing or altering big data legal standards to prevent adverse economic implications.

The aim of the study is to identify the specifics of the competitive environment in the bread and bakery products market and evaluate the prospects for the development of bakery enterprises under the influence of COVID-19 and full-scale invasion. The analysis of the operating environment of enterprises in the Ukrainian bread and bakery products market revealed a number of key factors influencing their activities and competitiveness. The concentration on factors such as stable production, reliable logistics, the presence of a wide range of products, and active foreign economic activity underscores the importance of adhering to a developed and well-organized bakery sector to ensure food security in the country. The state of the bread and bakery products market during periods of turmoil (COVID-19 pandemic and war) has been investigated. The dynamics of key market parameters for bread and bakery products in Ukraine for the period 2015-2021 were analyzed. An analysis of the dynamics of import costs and export income of bakery products in Ukraine for 2016-2022 was conducted. The level of competition in the bread and bakery products market was evaluated using quantitative concentration indicators such as: the Herfindahl-Hirschman Index, the Linda Index, the Gini Index. Based on the results of market concentration assessment in 2021, it was found that "Breadprom Concern", LLC KVF "ROMA", LLC "Kyiv Bread" entered the core of the analyzed market; in 2022 - Breadprom Concern", LLC KVF "ROMA", LLC "Kyiv Bread" and LLC "Kyiv Regional Bakery Complex". SWOT analysis was used to identify internal strengths and weaknesses, as well as external factors influencing the bakery production sector. [ABSTRACT FROM AUTHOR]

Tourism is not only the largest sector in the world economy, but also one of the fastest growing emerging industries in the world. Unlike other economic sectors that transport products to consumers, tourism enables people to migrate to places where tourism resources are concentrated. These resources are consumed somewhere. With the development of social economy, tourism has increasingly shown its important position in the national economy. After years of development, Kazakhstan's tourism industry has made significant contributions to the national economic development. At the same time, the industry has also accumulated many problems and contradictions in the long-term development process. From a macro level, the development situation of Kazakhstan's tourism industry is good, with total tourism revenue and tourist numbers rising rapidly. From a micro level, tourism enterprises are small in scale, have poor operations, and have low overall competitiveness. From the industrial level analysis, the main problems and contradictions of Kazakhstan's tourism industry are related to its market structure characteristics. Structural issues are core issues in the development of tourism in Kazakhstan. Using structural ideas and methods to study the tourism industry in Kazakhstan can guide the sustainable development of the tourism industry and provide a basis for decision-making by the government. Based on the literature review of the tourism market structure, the authors analyze the optimization path based on the Kazakhstan tourism market structure and effectively promotes the tourism industry. [ABSTRACT FROM AUTHOR]

The paper proposes an analysis of the local gastronomic services market in Romania. The growing interest in culinary tourism through Local Gastronomic Points is evident both globally and nationally. Gastronomic tourism can provide unique culinary experiences, especially in rural households. Clarivate, Google Scholar, and Research Gate articles were used for bibliographic research. The necessary data for the research were selected from the reports of the National Agency for Mountain Areas and the statistics of the National Veterinary Sanitary and Food Safety Authority. The information was statistically processed and graphically represented. The assessment of market concentration was conducted using the Herfindahl-Hirschman and Gini-Struck indices. The research results highlighted the dynamism of the sector against the backdrop of the COVID-19 pandemic but also revealed some deficiencies at the local authorities' level. HHI and GSI values indicate a low market concentration at the county level. Local Gastronomic Point businesses have high development potential, significantly contributing to increasing people's income and rural area development. [ABSTRACT FROM AUTHOR]

The paper proposes an in-depth analysis of Romania's agrotourism services market, highlighting its evolution and regional/counties concentration. Romania, renowned for its cultural and touristic diversity, employs agrotourism to facilitate authentic interactions with local communities, offering insights into native culture. Utilizing Clarivate, Google Scholar, and Research Gate databases, the research employs statistical processing and graphical representation. Market concentration is gauged using the Herfindahl-Hirschman and Gini-Struck indices. Findings reveal a dynamic national sector with an annual growth rate surpassing 10%. Regionally, concentration levels are notably high, with the North-West, Center, North-East, and South-East collectively contributing over 75%. Countylevel concentration is moderate, indicating potential development even in areas with untapped resources. Romanian authorities actively promote agrotourism, capitalizing on rural development potential. [ABSTRACT FROM AUTHOR]

Copyright of Informe Gepec is the property of Informe Gepec and its content may not be copied or emailed to multiple sites or posted to a listserv without the copyright holder's express written permission. However, users may print, download, or email articles for individual use. This abstract may be abridged. No warranty is given about the accuracy of the copy. Users should refer to the original published version of the material for the full abstract. (Copyright applies to all Abstracts.)

This study investigates the presence of a non-linear relationship between market concentration and bank risk-taking using a balanced dataset of 78 European commercial banks during the period 2006 to 2016. In order to test the hypothesis of non-linearity, this study applies the threshold estimation technique developed by Hansen (1999). We choose the non-performing loans ratio, the loan loss provision ratio to measure credit risk, and the cat-nonfat to proxy liquidity risk. Our main findings are twofold. The outcome of our analysis indicates that the threshold effect indeed exists. Moreover, our results suggest that there is a significant positive relationship between market concentration and bank credit risk. This positive impact is diminished when the level of market concentration is above a certain threshold. Overall, this study finds evidence that banks' risk-taking behavior varies under different levels of market concentration. The results are robust under additional tests. These findings have strong implications for regulators. [ABSTRACT FROM AUTHOR]

This paper explores the in-depth effect of bank competition on liquidity hoarding by using a comprehensive strategy for empirical measurement. More precisely, we include all asset-, liability-, and off-balance-sheet items when generating our measures of bank liquidity hoarding. For a multiple-aspect assessment of banking market structure, we simultaneously employ non-structural proxies (Lerner index, Boone indicator, and H-statistic index) and structural measures (top-bank market concentration ratio and Herfindahl–Hirschman index). Through bank-level financial data from 30 Vietnamese banks during 2007–2021, we find strong and consistent evidence that higher bank competition increases total liquidity hoarding. Disaggregate analysis reveals that the increased accumulation in total liquidity hoarding is driven by asset and liability items on the balance sheet, though our findings indicate that bank competition reduces liquidity hoarding off balance sheets. We further shed light on how the impact of competition on liquidity hoarding depends on bank-level heterogeneity. The results suggest that the link is less pronounced for banks that are larger in size, hold more equity capital, and yield better profitability. Our set of results consistently supports the view that financially healthier banks are more effective in handling competitive pressures in the banking market, and thus they may have a better position to mitigate the liquidity hoarding effect from bank competition. Multiple robustness checks are employed to lend further strength to our conclusions. [ABSTRACT FROM AUTHOR]

This article examines the determinants and impacts of rising market concentration in food retail. We argue that the differentiated nature of food retail complicates the common assumption that rising market concentration is evidence of growing market power and rising prices. We provide a theoretical explanation for rising market concentration but relatively unchanging market power and prices. We also provide empirical data on prices, gross margins, profit margins, and demand elasticities to support our hypothesis that rising fixed costs have been the main driver of rising market concentration with little impact on market power and prices. [ABSTRACT FROM AUTHOR]

This paper investigates whether local banking market structure affects regional entrepreneurship, measured by new firm formation. Considering provincial data over the period 2011–21 in Italy, we found that bank concentration and firm formation had an inverted ‘U’-shaped relationship. Lower levels of bank concentration fostered firm formation, but above a market share of about 58% for the largest banks, which is seen in the South and some peripheral and inner areas of central and northern Italy, increased concentration reduced firm formation. However, the presence of local banks is beneficial for the birth of new firms and can reduce the negative impact of high concentration. These findings suggest that banking market structure plays an important role in shaping regional entrepreneurship. [ABSTRACT FROM AUTHOR]