Hou, Kewei (contributor); Robinson, David T. (contributor) - 2003 - [Elektronische Ressource]
earn lower returns,
even after controlling for size, book-to-market and momentum. The premium for industry
concentration … average stock returns. Firms in concentrated industries earn lower returns,
even after controlling for size, book …, even after controlling for size, book-to-market, momentum, and other known risk
characteristics. This is true both at the …