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The persistence of accounting versus economic profit

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Author Info

  • Matthew J. Holian

    () (San Jose State University)

  • Ali M. Reza

    () (San Jose State University & Rouen Business School)

Abstract

Drawing on Schumpeterian theory, this article presents estimates of a first-order autoregressive model of profit persistence for large US firms, using Economic Value Added (EVA), the popular measure of profits produced by Stern Stewart and Company, and simple (unadjusted) accounting measures from the Compustat database. We hypothesize about the differences we should expect to find between these two sets of estimates, and also provide a fresh normative assessment of the dynamic competitiveness of the US economy.

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File URL: http://www.accessecon.com/Pubs/EB/2010/Volume30/EB-10-V30-I3-P201.pdf
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Bibliographic Info

Article provided by AccessEcon in its journal Economics Bulletin.

Volume (Year): 30 (2010)
Issue (Month): 3 ()
Pages: 2189-2196

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Handle: RePEc:ebl:ecbull:eb-10-00118

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Keywords: dynamic competition efficiency persistence;

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  1. Jesus Crespo Cuaresma & Adelina Gschwandtner, 2006. "The competitive environment hypothesis revisited: non-linearity, nonstationarity and profit persistence," Applied Economics, Taylor and Francis Journals, vol. 38(4), pages 465-472.
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