Mouselli, Sulaiman; Jaafar, Aziz - In: Cogent economics & finance 7 (2019) 1, pp. 1-22
How does competition in firms' product markets influence stock returns? We examine this question using firms domiciled in the UK. We find that firms in less concentrated industries earn higher returns, even after controlling for the well-known determinants of the cross-section of UK stock...