Tracing The Dynamics Of Competition: Evidence From Company Profits
"This article proposes a simple approach to analyzing profit dynamics, which allows for time-varying persistence of profits. The time series model is a simple autoregressive process where the dynamics of the persistence parameter follow an autoregressive process. Using the longest time series available on profits for more than a hundred U.S. firms, we find that there is ample evidence of time variation in the persistence parameter." ("JEL" L00, C22) Copyright (c) 2007 Western Economic Association International.
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Volume (Year): 46 (2008)
Issue (Month): 2 (04)
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References listed on IDEAS
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- Jesus Crespo Cuaresma & Adelina Gschwandtner, 2006.
"The competitive environment hypothesis revisited: non-linearity, nonstationarity and profit persistence,"
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- Mueller, Dennis C, 1977. "The Persistence of Profits above the Norm," Economica, London School of Economics and Political Science, vol. 44(176), pages 369-80, November.
- Adelina Gschwandtner, 2004.
"Profit Persistence in the "Very" Long Run: Evidence from Survivors and Exiters,"
Vienna Economics Papers
0401, University of Vienna, Department of Economics.
- Adelina Gschwandtner, 2005. "Profit persistence in the 'very' long run: evidence from survivors and exiters," Applied Economics, Taylor & Francis Journals, vol. 37(7), pages 793-806.
- Glen, Jack & Lee, Kevin & Singh, Ajit, 2001. "Persistence of profitability and competition in emerging markets," Economics Letters, Elsevier, vol. 72(2), pages 247-253, August.
- B. Burcin Yurtoglu, 2004. "Persistence of firm-level profitability in Turkey," Applied Economics, Taylor & Francis Journals, vol. 36(6), pages 615-625.
- Adelina Gschwandtner, 2004. "Evolution of Profit Persistence in the US: Evidence from four 20-years periods," Vienna Economics Papers 0410, University of Vienna, Department of Economics.
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