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Profits and total factor productivity: A comparative analysis

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  • Garrigosa, E Genescá
  • Tatjé, E Grifell

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.

Suggested Citation

  • Garrigosa, E Genescá & Tatjé, E Grifell, 1992. "Profits and total factor productivity: A comparative analysis," Omega, Elsevier, vol. 20(5-6), pages 553-568.
  • Handle: RePEc:eee:jomega:v:20:y:1992:i:5-6:p:553-568
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    Cited by:

    1. 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.
    2. Antonio Estache & Emili Grifell-Tatjé, 2010. "Assessing the impact of Mali's water privatization across stakeholders," Working Papers ECARES ECARES 2010-037, ULB -- Universite Libre de Bruxelles.
    3. Parkan, Celik, 1996. "Measuring the performance of hotel operations," Socio-Economic Planning Sciences, Elsevier, vol. 30(4), pages 257-292, December.
    4. Yang, Zhuofan & Shi, Yong & Yan, Hong, 2017. "Analysis on pure e-commerce congestion effect, productivity effect and profitability in China," Socio-Economic Planning Sciences, Elsevier, vol. 57(C), pages 35-49.
    5. E. Grifell-Tatjé & C. A. K. Lovell, 1999. "Profits and Productivity," Management Science, INFORMS, vol. 45(9), pages 1177-1193, September.
    6. 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.

    More about this item

    Keywords

    productivity management profit;

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