Product market competition and earnings exposure to productivity shocks
Economics Letters, 2019, vol. 174, issue C, 31-34
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.
Keywords: Product market competition; Product similarity; Earnings risk (search for similar items in EconPapers)
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Persistent link: https://EconPapers.repec.org/RePEc:eee:ecolet:v:174:y:2019:i:c:p:31-34
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