Astudillo, Alfonso; Braun, Matías; Castañeda, Pablo - In: Journal of International Money and Finance 30 (2011) 7, pp. 1451-1470
The industries in which listed firms are concentrated in less developed equity markets are not random, nor entirely explained by the underlying composition of production. Listed firms and market capitalization are disproportionately concentrated in industries with low beta (measured with their...
