When large asset managers such as BlackRock and Vanguard hold large blocks of corporate equity of competing firms with the same industries. Common ownership consolidates corporate shares within the hands of a few large firms, which harms competition, incentivizes companies to keep prices high and wages low, and produces conflicts of interest. Also known as horizontal shareholding.

DEFINE: Defines the concept 'common ownership' (horizontal shareholding) as large asset managers holding equity in competing firms within the same industry. XREF: Connects to antitrust scholarship questioning whether index-fund concentration at BlackRock/Vanguard undermines market competition despite benign appearances.

Andrew deWaard, Derivative Media, loc. 484