Abstract
This study examines the relationship between product market competition (measured by product similarities) and earnings exposure to common and specific production shocks, finding that higher product similarity lowers profit sensitivity to common productivity shocks, while increasing sensitivity to specific productivity shocks.
Original language | English |
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Pages (from-to) | 31-34 |
Number of pages | 4 |
Journal | Economics Letters |
Volume | 174 |
DOIs | |
Publication status | Published - Jan 2019 |
Keywords
- Earnings risk
- Product market competition
- Product similarity
ASJC Scopus subject areas
- Finance
- Economics and Econometrics