Investment and Competition

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The Limitations of Industry Concentration Measures Constructed with Compustat Data: Implications for Finance Research (2009, unknown): “…capital structure decisions (Phillips 1995; Kovenock and Phillips 1997; Mackay and Phillips 2005; Campello 2006), corporate investment patterns (Akdogu and Mackay 2008), chief executive officer (CEO) compensation contracts (Aggarwal and Samwick 1999), and risk management decisions (Haushalter,…”
A Measure of Competition Based on 10-K Filings (2012, unknown): “Empirically, Akdogu and McKay (2009) find that firms in competitive industries make large investments sooner than firms in monopolistic industries.”
Product market competition and corporate investment: Evidence from China (2015, background): “is essentially analogous to Grenadier (2002), Akdoğu and MacKay (2008), and many others who point out that investment decisions are sensitive to growth opportunities.”
Institutional ownership, product market competition, and earnings management: Some evidence from international data (2018, methodology): “We log transform HHI, as in Akdoğu and MacKay (2008) because the distribution of HHI is skewed.”