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I INTRODUCTION Amid concerns that New Zealand's grocery duopoly is charging unfairly high retail prices, (1) the Commerce Commission (NZCC) released a critical report, illuminating the anti-competitive practices within the [...], New Zealand's retail grocery sector is dominated by a duopoly that impedes opportunities for new entry by lodging restrictive covenants on strategic sites and exclusive covenants in lease agreements. This enables the duopoly to limit competition and artificially raise grocery prices, harming consumers and society as a whole. In response, the Government has recently passed legislation prohibiting the duopoly's covenants. This article applauds action against anti-competitive grocery covenants. However, it argues that enforcement action, rather than legislation, would have been the more appropriate avenue forfour reasons. First, under the new legislation, grocery retailers can apply for an exemption so that certain covenants remain in force, the outcome of which can be appealed. This means cases concerning grocery covenants will likely appear before the courts anyway. Secondly, enforcement action under existing legislation would have captured a key distinction that the new legislation overlooks. That is, while the duopoly's restrictive covenants are overwhelmingly anticompetitive and should all be unenforceable, in limited circumstances exclusive covenants are arguably net pro-competitive and should remain in force. Thirdly, and flowing from this, establishing via the courts that grocery covenants are in fact anti-competitive would have provided a more legitimate basis for prohibiting them. Finally, the Government's position that litigation is inefficient as each covenant must be individually analysed overlooks both the ANZCO Foods Waitara Ltd v AFFCO New Zealand Ltd collective covenants approach under s 28 and the s 30 cartel provisions in the existing Commerce Act 1986. To this end, this article argues that all of the duopoly's restrictive covenants and the great majority of their exclusive covenants breach existing competition laws, namely ss 28 and 30 of the Commerce Act.

ABSTRACT In its most recent antitrust opinion, National Collegiate Athletic Association v. Alston (2021), the Supreme Court condemned the NCAA's policy against compensating student athletes as a violation of the [...]

This study addresses an important ongoing debate in the management literature about the relationship between accounting and market measures of firm financial performance, namely, whether it is sufficiently strong so that researchers can treat them as equivalent, interchangeable indicators of firm financial performance. Using annual financial data from all the publicly traded U.S. firms in the COMPUSTAT database from 1961 to 2008, this study finds that, although measures of accounting profitability and market performance are positively correlated across industries, their covariance is less than 10% and thus provides no evidence of convergence. It also finds that accounting profitability and market performance do not load on a higher-order factor, and that in only a very few industries are they correlated at a high level (r > 0.50). The findings have important implications for the conception and measurement of firm financial performance in future research., The construct of firm performance is of central importance to management research because explaining variation in performance is an enduring theme in the study of organizations (e.g., Hoopes et al., [...]

I. THE CONTEMPORARY LEGAL LANDSCAPE FOR ADDRESSING SEX-BASED WAGE DISCRIMINATION 223 A. The Market Force Defense in College Sports 228 B. Challenging Traditional Market Assumptions 232 C. Title IX and [...]

Abstract. Whereas the extant literature on entry-order effects establishes that first entrants often earn higher market shares ('market-share advantage'), the literature on distribution suggests that increased distribution has a positive [...]

We investigate a game of singular control and strategic exit in a model of competitive market share control. In the model, each player can make irreversible investments to increase his [...]

Statistical estimations based on a number of European manufacturing sectors for the period 2007-2009 indicate that market share dispersion, as represented by various indices, is positively related to new firm entry. This finding contradicts the theoretical view that all aspects of industrial concentration should discourage entiy. This positive effect is explained on the basis of various empirical findings showing that share dispersion alleviates incumbents' rivalry and reduces entry-deterrent investments such as advertising and innovation. Finally, it is shown that the Herfindahl index may be insufficient to control for share dispersion. Keywords Herfindahl index * Industrial concentration * Market share dispersion * Firm entry JEL classification LI - L11, Introduction Theory suggests that oligopolistic markets with dominant firms are difficult for new firms to enter due to entry deterrent actions such as predatory pricing by the leaders (see Ordover [...]

The growth of credit union deposits, called shares, has generally increased along with their market share over the past few decades. In 1969, deposits totaled only $13.7 billion. As of December 31, 2009, shares had grown to $769.9 billion. Credit union market share grew fairly steadily in the 1970's, 1980's, and 1990's. However, in the 2000's, credit unions' market share has stalled industry wide. Nationally, credit union market share peaked in 2003. Although credit unions have continued to grow their shares, their market share has declined slightly from 2003 to 2009. This stagnation in market share is not the same for all segments of the market. Credit unions in small metropolitan statistical areas have not experienced a stagnation of their market share over the past five years. Three factors that have influenced credit unions over the past 40 years include certain cost advantages, superior customer satisfaction, and a friendly regulatory environment. Keywords: Credit Union, depository institution., INTRODUCTION Credit Unions, CUs, like banks, are depository institutions. However, CUs are different from banks in several ways. CUs are non-profit institutions, member owned, do not pay federal income taxes, [...]

I. INTRODUCTION II. STATE MONOPOLIES IN VIETNAM: AN OVERVIEW III. ABUSE OF MARKET DOMINANCE A. The concept of abuse of market dominance B. Abusive behaviour by market dominance IV. ABUSE [...]

Current studies that use traditional data envelopment analysis (DEA) neglect the 100% market share restriction. This study adopts zero-sum gains data envelopment analysis to measure the efficiency scores of securities firms (SFs) and indicates that the traditional DEA model underestimates the efficiency scores of inefficient SFs. This research analyses 266 integrated securities firms in Taiwan from 2001 to 2005 and employs three inputs (fixed assets, financial capital, and general expenses) and a single output (market share). The foreign-affiliated ownership of SFs positively affects the efficiency scores. The two-stage least squares procedure confirms that the market share and efficiency score simultaneously reinforce each other. Journal of the Operational Research Society (2010) 61, 647-657. doi: 10.1057/jors.2009.11 Published online 18 March 2009 Keywords: zero-sum gains data envelopment analysis (ZSG-DEA); panel data; two-stage least squares procedure (2SLS)

This paper develops a framework for measuring 'tipping'--the increase in a firm's market share dominance caused by indirect network effects. Our measure compares the expected concentration in a market to [...]

Given that the impact of retail shelf facings and price on a product's market share is of substantial interest to marketing managers in the retail supply chain, we examine whether these relationships may be interdependent with the firm's supply chain activities. We offer predictions regarding the interdependence of the marketing and supply chain variables using monthly in-store observations from 62 different retail stores from five different chains, taken over a 24-month period. The in-store observations included price and number of facings, which is combined with data obtained from the manufacturer on case pack quantity and market share data from the ACNielsen HomeScan consumer scanner panel. Results indicate that shelf facings impact the effects of price and case pack quantity on market share. In addition, we explore the strength of relationships across retailers employing everyday low price versus HiLo pricing strategies. Generally, our findings suggest that retailers and suppliers must work to integrate marketing activities and supply chain processes both within and across firms to most effectively serve the consumer at the retail shelf and increase market share. Keywords Retail shelf space * Case pack quantity * Retail market share * Supply chain management, In considering the interrelationship between retail supply chain management and consumer packaged goods (CPG) marketing, a crucial point of interface between retailer and consumer is the retail point-of-purchase. Procter and [...]

INTRODUCTION: THE DIVERSITY INDEX THAT DIDN'T INDEX DIVERSITY I. THE CONVERGENCE HYPOTHESIS A. Viewpoint Diversity and the Empirical Turn in the Law of Media B. Scholarly Dissensus II. LIMITATIONS OF [...], One of the central predicates of legal regulation of media ownership is that ownership consolidation reduces substantive viewpoint diversity. Appellate courts and, in turn, the Federal Communications Commission have increasingly demanded evidence for this convergence hypothesis, but extant empirical measures of viewpoint diversity sidestep the problem, ignoring diversity, viewpoints, or both. Our Article develops and oilers a finely tuned, time-varying statistical measure of editorial viewpoint diversity, based on a new database of over 1600 editorial positions in twenty-five top newspapers from 1988-2004. Using this new measure, we assess the validity of the convergence hypothesis by examining the evolution of editorial viewpoints over the course of five major mergers and acquisitions. Our data reveal complex patterns that defy extant accounts, showing stability, convergence, and divergence of viewpoints in the face of--and depending on the circumstances of consolidation. These findings fundamentally challenge extant empirical regulatory assumptions--pointing to the crucial role of editorial policies--and deeply inform the viability of the ownership regulations and the interpretation of the 1996 Telecommunications Act.

The literature on market orientation finds support for its positive relationship with organizational performance. However, it is important to know what conditions moderate this relationship. Using a sample of 166 Canadian companies (in a post-NAFTA environment), we find evidence to suggest that the risk propensity of the firm's top management team (TMT) plays a critical role in translating market orientation to improved performance. The moderating effect of the TMT's risk propensity varies across various environmental conditions such as market turbulence, competitive intensity, and technological turbulence. The implications of these findings are discussed., INTRODUCTION The construct of market orientation captures the interface between the organization and its external environment. Ever since the construct was operationalized in the 1990s (Narver and Slater, 1990; Kohli [...]