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Causes of Interfirm Profitability Differences: A New Interpretation of the Evidence

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  • Richard B. Mancke

Abstract

Introduction, 181. — I. A stochastic model of interfirm profitability differences, 182. — II. An example, 183. — III. Results of tests using a simple simulation model, 186. — IV. Summary and challenge, 191.

Suggested Citation

  • Richard B. Mancke, 1974. "Causes of Interfirm Profitability Differences: A New Interpretation of the Evidence," The Quarterly Journal of Economics, President and Fellows of Harvard College, vol. 88(2), pages 181-193.
    • Handle: RePEc:oup:qjecon:v:88:y:1974:i:2:p:181-193.
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    1. Sumit K. Majumdar & Arnab Bhattacharjee, 2014. "Firms, Markets, and the State: Institutional Change and Manufacturing Sector Profitability Variances in India," Organization Science, INFORMS, vol. 25(2), pages 509-528, April.
    2. Sesar, Vesna & Buntak, Krešimir & Martinčević, Ivana & Bogović, Saša, 2018. "Industry Structure in Developing Company's Long-Term Business Strategy," Proceedings of the ENTRENOVA - ENTerprise REsearch InNOVAtion Conference (2018), Split, Croatia, in: Proceedings of the ENTRENOVA - ENTerprise REsearch InNOVAtion Conference, Split, Croatia, 6-8 September 2018, pages 175-182, IRENET - Society for Advancing Innovation and Research in Economy, Zagreb.
    3. Mueller, Dennis C., 1996. "Lessons from the United States's antitrust history," International Journal of Industrial Organization, Elsevier, vol. 14(4), pages 415-445, June.
    4. Jerker Denrell & Christina Fang, 2010. "Predicting the Next Big Thing: Success as a Signal of Poor Judgment," Management Science, INFORMS, vol. 56(10), pages 1653-1667, October.
    5. Meng, Yijun & Clements, Michael P. & Padgett, Carol, 2018. "Independent directors, information costs and foreign ownership in Chinese companies," Journal of International Financial Markets, Institutions and Money, Elsevier, vol. 53(C), pages 139-157.
    6. Hagedoorn, John & van Kranenburg, Hans, 2003. "Growth patterns in R&D partnerships: an exploratory statistical study," International Journal of Industrial Organization, Elsevier, vol. 21(4), pages 517-531, April.
    7. Arnab Bhattacharjee & Sumit K. Majumdar, 2011. "How much does industry matter in an emerging market economy?," Dundee Discussion Papers in Economics 256, Economic Studies, University of Dundee.
    8. James O. Fiet, 1997. "Fragmentation in the Market for Venture Capital," Entrepreneurship Theory and Practice, , vol. 21(2), pages 5-20, January.
    9. Victor Oladapo & Godwin Onyeaso, 2012. "An Empirical Investigation Of The Impact Of Luck On Small Business Performance: Dynamic Panel Data Evidence," International Journal of Management and Marketing Research, The Institute for Business and Finance Research, vol. 5(3), pages 29-41.
    10. Raymond-Alain Thietart, 2016. "Strategy dynamics: Agency, path dependency, and self-organized emergence," Strategic Management Journal, Wiley Blackwell, vol. 37(4), pages 774-792, April.
    11. Lawrence J. White, 2013. "A Close Connection between the Disciplines of Industrial Organization and Finance: A Worthy Objective or a Bridge Too Far?," Working Papers 13-15, New York University, Leonard N. Stern School of Business, Department of Economics.
    12. Lawrence J. White, 2014. "A Close Connection between the Disciplines of Industrial Organization and Finance: A Worthy Objective or a Bridge Too Far?," International Journal of the Economics of Business, Taylor & Francis Journals, vol. 21(1), pages 49-54, February.
    13. Jerker Denrell & Christina Fang & Chengwei Liu, 2015. "Perspective—Chance Explanations in the Management Sciences," Organization Science, INFORMS, vol. 26(3), pages 923-940, June.
    14. Trofimov, Ivan D., 2018. "Industry rates of return in Korea and alternative theories of competition: equalising convergence versus tendential equalisation," MPRA Paper 88390, University Library of Munich, Germany.
    15. Mohan Subramaniam, 2020. "Digital ecosystems and their implications for competitive strategy," Journal of Organization Design, Springer;Organizational Design Community, vol. 9(1), pages 1-10, December.
    16. Lawrence J. White, 2012. "Market Power: How Does it Arise? How is it Measured?," Working Papers 12-06, New York University, Leonard N. Stern School of Business, Department of Economics.
    17. Lawrence J. White, 2013. "Monopoly and Dominant Firms: Antitrust Economics and Policy Approaches," Working Papers 13-13, New York University, Leonard N. Stern School of Business, Department of Economics.
    18. Jerker Denrell, 2004. "Random Walks and Sustained Competitive Advantage," Management Science, INFORMS, vol. 50(7), pages 922-934, July.
    19. Marion, Bruce W., 1986. "Interrelationships of Market Structure, Competitive Rehavior and Market/Firm Performance: The State of Know ,e(10 ,,-.4Y%-r)-(:-- and Some Research Opportunities," 1986 Annual Meeting, July 27-30, Reno, Nevada 278103, American Agricultural Economics Association (New Name 2008: Agricultural and Applied Economics Association).
    20. Joseph Shaanan, 2006. "Ricardian or Monopoly Rents? The Perspective of Potential Entrants," Eastern Economic Journal, Eastern Economic Association, vol. 32(1), pages 19-30, Winter.
    21. Mariko Sakakibara & Hideki Yamawaki, 2008. "What determines the profitability of foreign direct investment? A subsidiary-level analysis of Japanese multinationals," Managerial and Decision Economics, John Wiley & Sons, Ltd., vol. 29(2-3), pages 277-292.
    22. Audretsch, David B. & Santarelli, Enrico & Vivarelli, Marco, 1999. "Start-up size and industrial dynamics: some evidence from Italian manufacturing," International Journal of Industrial Organization, Elsevier, vol. 17(7), pages 965-983, October.

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