To investigate competitive dynamics of the dominant-fringe firm competition, this paper considers a new analytical theory of production and competition, which incorporate the relationships among fixed costs, variable costs, market uncertainty, and product value. We particularly examine the role...

This study examines the effect of the COVID-19 pandemic on the relationship between idiosyncratic volatility and expected stock returns. Using daily stock return data in the US market from the Center for Research in Security Prices (CRSP), we estimate monthly idiosyncratic volatility and...