We show that if firms locate on a circle according to a uniform distribution, their market shares will be beta distributed. The result implies that concentration ratios will be skewed. We apply the result to the market for auditing services in the US and show the beta distribution outperforms other relevant distributions
This paper shows that the systematic risk (or 'beta') of individual stocks increases by an economica...
There is an exact linear relation between expected returns and true 'betas' when the market portfoli...
The beta parameter is a popular tool for the evaluation of portfolio performance. The Sharpe single-...
Due to increasing supplier concentration, there is growing concern regarding the lack of competition...
This study investigates the assumption that stock riskiness, captured by the market global beta, is ...
Audit markets are highly concentrated and such a situation might have negative consequences on compe...
An argument is given for individual firm beta instability based upon the stochastic character of the...
Empirical evidence shows that conditional market betas vary substantially over time. Yet, little is ...
In this paper we review evidence of a generalized convex cross-sectional relationship between retail...
<p>The black line represents the density of the probability of a street broker purchase across all s...
This study empirically examines the effects of competition through differentiation on audit pricing....
We report that betas of portfolios of Australian stocks possess a high level of stability, implying ...
Using a sample of 27 stocks from the Dow Jones Industrial Average for the years 1986-1992, we examin...
The industries in which listed firms concentrate in less developed equity markets are not random or ...
The notion of beta in the stock market is a concept of risk that has had wide acceptance in the acad...
This paper shows that the systematic risk (or 'beta') of individual stocks increases by an economica...
There is an exact linear relation between expected returns and true 'betas' when the market portfoli...
The beta parameter is a popular tool for the evaluation of portfolio performance. The Sharpe single-...
Due to increasing supplier concentration, there is growing concern regarding the lack of competition...
This study investigates the assumption that stock riskiness, captured by the market global beta, is ...
Audit markets are highly concentrated and such a situation might have negative consequences on compe...
An argument is given for individual firm beta instability based upon the stochastic character of the...
Empirical evidence shows that conditional market betas vary substantially over time. Yet, little is ...
In this paper we review evidence of a generalized convex cross-sectional relationship between retail...
<p>The black line represents the density of the probability of a street broker purchase across all s...
This study empirically examines the effects of competition through differentiation on audit pricing....
We report that betas of portfolios of Australian stocks possess a high level of stability, implying ...
Using a sample of 27 stocks from the Dow Jones Industrial Average for the years 1986-1992, we examin...
The industries in which listed firms concentrate in less developed equity markets are not random or ...
The notion of beta in the stock market is a concept of risk that has had wide acceptance in the acad...
This paper shows that the systematic risk (or 'beta') of individual stocks increases by an economica...
There is an exact linear relation between expected returns and true 'betas' when the market portfoli...
The beta parameter is a popular tool for the evaluation of portfolio performance. The Sharpe single-...