Herfindahl Index definition

Herfindahl Index means the sum of the squares of the market shares of each individual firm and is a measure of concentration of the production in an industry.
Sample 1

Examples of Herfindahl Index in a sentence

  • Columns (1) and (3) of Table 4, which use the Herfindahl Index as the control for industry (instead of using industry fixed effects), report the marginal effect of GPs on bid likelihood and takeover likelihood for the average firm (i.e., one that holds the mean values for the control variables) to be 1.48% and 1.28%, with statistical significance at the 1% level for both.

  • We control for industry effect by either the Herfindahl-Hirschman Index (Herfindahl Index), representing the level of product market competition in the industry, or by 2-digit SIC (SIC2) industry fixed effects.

  • Our use of the Herfindahl Index follows the work by Giroud and Mueller (2011), which documents the possibility that corporate governance may matter only for industries with low product market competition.

  • The design of effective N is related to other traditional concentration measures, e.g., the Herfindahl Index is also the sum of squared market shares to measure the amount of competition.

  • In the non-life sector, concentration is much smaller with the largest 3 companies representing 25 percent of the market and a Herfindahl Index of 489.

  • Our results are not qualitatively changed if we calculate the Herfindahl Index of control rights distribution.

  • Regarding bank competition, we use two measures: the country-level Lerner index (described in Section 4.2.), and alternatively the Herfindahl Index (HHIjt) of bank market shares in terms of total assets.

  • We first compute a patent’s originality value as one minus the Herfindahl Index of the IPC sections of patents that it cites.

  • We use the Herfindahl Index for SME loans in the prefecture of the firm, denoted as HHIj, as our market power measure.

  • The Herfindahl Index is used to measure the within‐district concentration of the schooling market.

Related to Herfindahl Index

  • SIFMA Index means the Securities Industry and Financial Markets Association Municipal Swap Index, produced by Municipal Market Data, or if such index is not published, then such other index selected by the Treasurer which reflects the yield of tax-exempt seven-day variable rate demand bonds.

  • CMT Index Not applicable.

  • Initial Index Level means the closing level of the FTSE 100 on the Start Date.

  • RPIX Index shall have the meaning given to it in paragraph 5.4 of Schedule 3 (Charging Structure) of this Framework Agreement;

  • CPI Index is defined in Section 2.1(c) of this Agreement.

  • Initial Index Price means the sum of the per share closing sales price of the common stock of each company comprising the Index Group multiplied by the applicable weighting, as such prices are reported on the consolidated transaction reporting system for the market or exchange on which such common stock is principally traded on the trading day immediately preceding the public announcement of this Agreement.

  • SOFR Compounded Index means the Compounded Daily SOFR rate as published at 15:00 (New York time) by Federal Reserve Bank of New York (or a successor administrator of SOFR) on the website of the Federal Reserve Bank of New York, or any successor source; and

  • Final Index Level : means the Closing Level of the FTSE 100 Index on the Investment End Date.

  • SOFR Index means, with respect to any U.S. Government Securities Business Day:

  • SOFR IndexEnd means the SOFR Index value on the day which is five U.S. Government Securities Business Days preceding the Interest Payment Date relating to such Interest Period (or in the final Interest Period, the Maturity Date).

  • Case-mix index means an arithmetical index measuring the relative average costliness of outpatient cases treated in a hospital, compared to the statewide average.

  • Final Index Price means the average of the Index Prices for the 20 consecutive full trading days ending on the trading day prior to the Determination Date.

  • SONIA Compounded Index means the index known as the SONIA Compounded Index administered by the Bank of England (or any successor administrator thereof);

  • SOFR IndexStart means the SOFR Index value on the day which is two U.S. Government Securities Business Days preceding the first date of the relevant Interest Period (an "Index Determination Date"); and

  • SONIA Compounded IndexEnd means the SONIA Compounded Index Value on the date falling “p” London Business Days prior to (i) in respect of an Interest Accrual Period, the Interest Payment Date for such Interest Accrual Period, or (ii) if the Notes become due and payable prior to the end of an Interest Accrual Period, the date on which the Notes become so due and payable; and

  • Retail Prices Index means the retail prices index for the whole economy of the United Kingdom and for all items as published from time to time by the Office for National Statistics as “RPI” or, if such index shall cease to be published or there is, in the reasonable opinion of the Secretary of State, a material change in the basis of the index or if, at any relevant time, there is a delay in the publication of the index, such other retail prices index as the Secretary of State may, after consultation with the Franchisee, determine to be appropriate in the circumstances;

  • Inflation Index means each inflation index specified in the applicable Final Terms and related expressions shall be construed accordingly.

  • Base Index means the most recent Consumer Price Index published immediately prior to the Commencement Date.

  • SIFMA Municipal Swap Index means the Securities Industry and Financial Markets Association Municipal Swap Index, or such other weekly, high-grade index comprised of seven-day, tax-exempt variable rate demand notes produced by Municipal Market Data, Inc. or its successor, or as otherwise designated by the Securities Industry and Financial Markets Association; provided, however, that if such index is no longer produced by Municipal Market Data, Inc. or its successor, then SIFMA Municipal Swap Index shall mean (i) the S&P Municipal Bond 7 Day High Grade Rate Index produced by Standard & Poor’s Financial Services LLC or its successors or (ii) if the S&P Municipal Bond 7 Day High Grade Rate Index is no longer produced, such other reasonably comparable index selected in good faith by the Board of Trustees of the Fund.

  • Reference Index means each of the indices comprising the Reference Portfolio.

  • Limited Indexation Month means any month specified in the relevant Final Terms for which a Limited Indexation Factor is to be calculated;

  • SONIA Compounded IndexStart means, with respect to an Interest Accrual Period, the SONIA Compounded Index determined in relation to the day falling the Relevant Number of London Banking Days prior to the first day of such Interest Accrual Period; and

  • Multi-Exchange Index , if applicable, means each Reference Item specified under the heading "Underlying" in the Product Terms to be a Multi-Exchange Index.

  • Limited Index Ratio means (a) in respect of any month or date, as the case may be, prior to the relevant Issue Date, the Index Ratio for that month or date, as the case may be, (b) in respect of any Limited Indexation Date after the relevant Issue Date, the product of the Limited Indexation Factor for that month or date, as the case may be, and the Limited Index Ratio as previously calculated in respect of the month or date, as the case may be, twelve months prior thereto; and (c) in respect of any other month, the Limited Index Ratio as previously calculated in respect of the most recent Limited Indexation Month;

  • Base Index Figure means (subject to Condition 4.3(i)) the base index figure as specified in the relevant Final Terms;

  • Treasury Index Rate means the average yield to maturity for actively traded marketable fixed interest rate U.S. Treasury Securities having the same number of 30-day periods to maturity as the length of the applicable Dividend Period, determined, to the extent necessary, by linear interpolation based upon the yield for such securities having the next shorter and next longer number of 30-day periods to maturity treating all Dividend Periods with a length greater than the longest maturity for such securities as having a length equal to such longest maturity, in all cases based upon data set forth in the most recent weekly statistical release published by the Board of Governors of the Federal Reserve System (currently in H.15(519)); provided, however, if the most recent such statistical release shall not have been published during the 15 days preceding the date of computation, the foregoing computations shall be based upon the average of comparable data as quoted to the Corporation by at least three recognized dealers in U.S. Government Securities selected by the Corporation.