This study investigates the effect of stock market overvaluation of non-peer firms on firm investment measured by capital expenditures. To test this effect, Stambaugh et al.’s (2015) misvaluation measure and Text-Based Network Industry Classification (TNIC) codes are used. The results indicate...

Information is key to decision-making and is a major determinant of investment performance. We hypothesise that as analysts are constrained by their research resources, they collect information with more externalities. Measuring information externalities as a stock’s fundamental correlations...

The problem of a monopolist firm that supplies an essential input to other firms that compete in the final downstream market is crucial in many utility industries that use a network. When downstream firms have different degrees of efficiency, then it could be feasible to charge them different...

This paper considers a vertically separated industry with an upstream monopolist who supplies an essential input to two downstream Cournot firms. This situation is relevant to a number of sectors, including the telecommunications industry where trunk operators must have access to the local...