Reliance on major customers and product market competition

Finance Research Letters - Tập 38 - Trang 101436 - 2021
Yelena Larkin1
1Schulich School of Business, York University, N205G Schulich School of Business, York University, Toronto, ON M3J 1P3, Canada

Tài liệu tham khảo

Ahern, 2014, The importance of industry links in merger waves, J. Financ., 69, 527, 10.1111/jofi.12122 Autor, 2017 Barkai, 2016, Declining labor and capital shares Campello, 2017, Customer concentration and loan contract terms, J. Financ. Econ., 123, 108, 10.1016/j.jfineco.2016.03.010 Chamberlin, 1933 Decker, 2014, The role of entrepreneurship in U.S. job creation and economic dynamism, J. Econ. Perspect., 28, 3, 10.1257/jep.28.3.3 Decker, 2016, Where has all the skewness gone? The decline in high-growth (young) firms in the US, Eur. Econ. Rev., 86, 4, 10.1016/j.euroecorev.2015.12.013 Dhaliwal, 2016, Customer concentration risk and the cost of equity capital, J. Account. Econ., 61, 23, 10.1016/j.jacceco.2015.03.005 Fee, 2004, Sources of gains in horizontal mergers: evidence from customer, supplier, and rival firms, J financ econ, 74, 423, 10.1016/j.jfineco.2003.10.002 Grullon, 2019, Are US industries becoming more concentrated?, Rev. Financ., 23, 697, 10.1093/rof/rfz007 Gutiérrez, G., and Philippon, T. 2017. Declining competition and investment in the US. NBER Working Paper 23583. Hoberg, 2016, Text-based network industries and endogenous product differentiation, J. Polit. Econ., 124, 1423, 10.1086/688176 Hotelling, 1929, Stability in competition, Econ. J., 39, 41, 10.2307/2224214 Hou, 2006, Industry concentration and average stock returns, J. Financ., 61, 1927, 10.1111/j.1540-6261.2006.00893.x Irvine, 2016, Customer-base concentration, profitability, and the relationship life cycle, Account. Rev., 91, 883, 10.2308/accr-51246 Irvine, 2009, Idiosyncratic return volatility, cash flows, and product market competition, Rev. Financ. Stud., 22, 1149, 10.1093/rfs/hhn039 Patatoukas, 2012, Customer-base concentration: implications for firm performance and capital markets, Account. Rev., 87, 363, 10.2308/accr-10198 Tannenbaum, 1995 Tedeschi, 2005