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Profits and total factor productivity: A comparative analysis

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  • Garrigosa, E Genescá
  • Tatjé, E Grifell
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    Abstract

    This paper analyses some of the approaches that explain the variation in profits based on the concept of total factor productivity (TFP), using the framework of the neoclassical theory of production. In this field different explanatory decompositions of the variation in profits have been suggested. These are based on mathematical expressions that quantify different effects on the profit variations, such as the TFP and the price recovery. We will analyse alternative proposals for the decomposition of profit variations over time, using a common framework which draws on Solow's concept of technical change. We introduce the notionof "duality" among TFP measures which allows us to show that several decompositions of the profit variations suggested in the literature are in fact 'dual' to each other and therefore they measure the same thing.

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    Bibliographic Info

    Article provided by Elsevier in its journal Omega.

    Volume (Year): 20 (1992)
    Issue (Month): 5-6 ()
    Pages: 553-568

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    Handle: RePEc:eee:jomega:v:20:y:1992:i:5-6:p:553-568

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    Related research

    Keywords: productivity management profit;

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    Cited by:
    1. Estache, Antonio & Grifell-Tatjé, Emili, 2011. "Assessing the impact of Mali’s water privatization across stakeholders," CEPR Discussion Papers 8717, C.E.P.R. Discussion Papers.
    2. C. A. Knox Lovell & E. Grifell-Tatjé, 1996. "Profits and Productivity," Center for Financial Institutions Working Papers 97-18, Wharton School Center for Financial Institutions, University of Pennsylvania.
    3. Parkan, Celik, 1996. "Measuring the performance of hotel operations," Socio-Economic Planning Sciences, Elsevier, vol. 30(4), pages 257-292, December.
    4. Maria Teresa Bosch-Badia, 2010. "Connecting productivity to return on assets through financial statements: Extending the Dupont method," International Journal of Accounting and Information Management, Emerald Group Publishing, vol. 18(2), pages 92-104, June.
    5. Hudon, Marek & Périlleux, Anaïs, 2014. "Surplus distribution and characteristics of social enterprises: Evidence from microfinance," The Quarterly Review of Economics and Finance, Elsevier, vol. 54(2), pages 147-157.

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