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Determinants Of Firm Performance: Evidence From Romanian Listed Companies

Author

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  • Sebastian LAZAR

    () (Faculty of Economics and Business Administration, University Alexandru Ioan Cuza of Ia?i, Romania)

Abstract

The paper investigates firm-specific determinants of firm profitability for Romanian listed companies over the 2000-2011 period within the framework of resource based view of the firm. The results show that tangibles, leverage, size and labour intensity have negative effect on firm performance, while sales growth and value added have a positive effect. The results prove robust when introducing two-way fixed effects model and industry year effects model (in order to simultaneously account for specific industry characteristics and time effects).

Suggested Citation

  • Sebastian LAZAR, 2016. "Determinants Of Firm Performance: Evidence From Romanian Listed Companies," Review of Economic and Business Studies, Alexandru Ioan Cuza University, Faculty of Economics and Business Administration, issue 17, pages 53-69, June.
  • Handle: RePEc:aic:revebs:y:2016:j:17:lazars
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    References listed on IDEAS

    as
    1. Jim Lee, 2009. "Does Size Matter in Firm Performance? Evidence from US Public Firms," International Journal of the Economics of Business, Taylor & Francis Journals, vol. 16(2), pages 189-203.
    2. Iuliana Oana MIHAI & Cosmin MIHAI, 2012. "Ultimate Owner and Firm Performance - Evidence from Romanian Mining and Quarrying Listed Firms," Economics and Applied Informatics, "Dunarea de Jos" University of Galati, Faculty of Economics and Business Administration, issue 2, pages 75-82.
    3. Geroski, P. A. & Masson, R. T., 1987. "Dynamic market models in industrial organization," International Journal of Industrial Organization, Elsevier, vol. 5(1), pages 1-13, March.
    4. McDonald, James Ted, 1999. "The Determinants of Firm Profitability in Australian Manufacturing," The Economic Record, The Economic Society of Australia, vol. 75(229), pages 115-126, June.
    5. John Goddard & Manouche Tavakoli & John Wilson, 2005. "Determinants of profitability in European manufacturing and services: evidence from a dynamic panel model," Applied Financial Economics, Taylor & Francis Journals, vol. 15(18), pages 1269-1282.
    6. Darush Yazdanfar, 2013. "Profitability determinants among micro firms: evidence from Swedish data," International Journal of Managerial Finance, Emerald Group Publishing, vol. 9(2), pages 151-160, March.
    7. Gabriel Hawawini & Venkat Subramanian & Paul Verdin, 2003. "Is performance driven by industry‐or firm‐specific factors? A new look at the evidence," Strategic Management Journal, Wiley Blackwell, vol. 24(1), pages 1-16, January.
    8. Ioannis Asimakopoulos & Aristeidis Samitas & Theodore Papadogonas, 2009. "Firm-specific and economy wide determinants of firm profitability: Greek evidence using panel data," Managerial Finance, Emerald Group Publishing, vol. 35(11), pages 930-939, September.
    9. Porter, Michael E, 1979. "The Structure within Industries and Companies' Performance," The Review of Economics and Statistics, MIT Press, vol. 61(2), pages 214-227, May.
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    Cited by:

    1. repec:spd:journl:v:68:y:2018:i:1:p:43-58 is not listed on IDEAS
    2. repec:gam:jjrfmx:v:12:y:2019:i:1:p:49-:d:216946 is not listed on IDEAS

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