The question of whether and how partial common-ownership links between strategically interacting firms affect firm behavior has been the subject of theoretical inquiry for decades. Since then, consolidation and increasing concentration in the asset-management industry has led to more pronounced common ownership concentration (CoOCo). Moreover, recent empirical research has provided evidence consistent with the literature's key predictions. The resulting antitrust concerns have received much attention from policy makers worldwide. However, the implications are more general: CoOCo affects the objective function of the firm, and therefore has implications for all subfields of economics studying corporate conduct -- including corporate governance, strategy, industrial organization, and all of financial economics. This article connects the papers establishing the theoretical foundations, reviews the empirical and legal literatures, and discusses challenges and opportunities for future research.

中文翻译：

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共同所有权集中和公司行为

数十年来，战略互动公司之间的部分共同所有权链接是否以及如何影响公司行为的问题一直是理论研究的主题。从那时起，资产管理行业的整合和集中度的提高导致更为明显的共同所有权集中度（CoOCo）。此外，最近的实证研究提供了与文献的关键预测相一致的证据。由此产生的反托拉斯问题引起了全球决策者的广泛关注。但是，其含义更为笼统：CoOCo影响着公司的目标功能，因此对研究公司行为的所有经济学子领域都具有影响力，包括公司治理，战略，产业组织以及所有金融经济学。