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Article: Cournot oligopoly and systematic risk

TitleCournot oligopoly and systematic risk
Authors
Kit Pong Wong
Issue Date1995
PublisherElsevier Inc. The Journal's web site is located at http://www.elsevier.com/locate/jeb
Citation
Journal Of Economics And Business, 1995, v. 47 n. 4, p. 385-395 How to Cite?
DOI: http://dx.doi.org/10.1016/0148-6195(95)00018-M
AbstractThis paper uses a standard Cournot model of oligopoly to address the real determinants of systematic risk. A closed-form solution of each individual firm's systematic risk is derived. The model shows that a firm with a higher market power (as measured either by market share or by Tobin's q ratio) need not associate with a lower beta coefficient unless production technologies are the same across firms. It also shows that a firm facing a higher wage rate suffers by bearing a larger beta coefficient while its rivals enjoy a reduction in their systematic risk. © 1995.
Persistent Identifierhttp://hdl.handle.net/10722/82230
ISSN
0148-6195
2023 Impact Factor: 3.3
2023 SCImago Journal Rankings: 0.709

 

DC FieldValueLanguage
dc.contributor.authorKit Pong Wongen_HK
dc.date.accessioned2010-09-06T08:26:57Z-
dc.date.available2010-09-06T08:26:57Z-
dc.date.issued1995en_HK
dc.identifier.citationJournal Of Economics And Business, 1995, v. 47 n. 4, p. 385-395en_HK
dc.identifier.issn0148-6195en_HK
dc.identifier.urihttp://hdl.handle.net/10722/82230-
dc.description.abstractThis paper uses a standard Cournot model of oligopoly to address the real determinants of systematic risk. A closed-form solution of each individual firm's systematic risk is derived. The model shows that a firm with a higher market power (as measured either by market share or by Tobin's q ratio) need not associate with a lower beta coefficient unless production technologies are the same across firms. It also shows that a firm facing a higher wage rate suffers by bearing a larger beta coefficient while its rivals enjoy a reduction in their systematic risk. © 1995.en_HK
dc.languageengen_HK
dc.publisherElsevier Inc. The Journal's web site is located at http://www.elsevier.com/locate/jeben_HK
dc.relation.ispartofJournal of Economics and Businessen_HK
dc.rightsJournal of Economics and Business. Copyright © Elsevier Inc.en_HK
dc.titleCournot oligopoly and systematic risken_HK
dc.typeArticleen_HK
dc.identifier.openurlhttp://library.hku.hk:4550/resserv?sid=HKU:IR&issn=0148-6195&volume=47&spage=385&epage=395&date=1995&atitle=Cournot+oligopoly+and+systematic+risken_HK
dc.identifier.emailKit Pong Wong: kpwongc@hkucc.hku.hken_HK
dc.identifier.authorityKit Pong Wong=rp01112en_HK
dc.description.naturelink_to_subscribed_fulltext-
dc.identifier.doi10.1016/0148-6195(95)00018-M-
dc.identifier.scopuseid_2-s2.0-0344823035en_HK
dc.identifier.hkuros15179en_HK
dc.identifier.volume47en_HK
dc.identifier.issue4en_HK
dc.identifier.spage385en_HK
dc.identifier.epage395en_HK
dc.publisher.placeUnited Statesen_HK
dc.identifier.scopusauthoridKit Pong Wong=7404759417en_HK
dc.identifier.issnl0148-6195-

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