A copy of this work was available on the public web and has been preserved in the Wayback Machine. The capture dates from 2022; you can also visit the original URL.
The file type is
This study explores the issue of competition in Pakistan economy through industry concentration and examining the link between concentration and stock return both at firm and industry level. For this purpose, it uses all non-financial sectors listed on PSX from 1999 to 2020. The results show that concentrated industries (least competitive), on average, are more profitable and results are robust not only to different empirical strategies but also to different proxies of concentration. A positivedoi:10.52567/pjsr.v3i4.422 fatcat:3e3umfnuuvdzhn5sjgdnqoydxm