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| Tekijä: | Geroski, P. A. Jacquemin, A. |
| Otsikko: | The persistence of profits : a European comparison. |
| Lehti: | Economic Journal
1988 : JUN, VOL. 98:391, p. 375-389 |
| Asiasana: | PROFITABILITY COMPETITIVENESS EUROPE, WEST LARGE BUSINESSES ECONOMETRIC MODELS |
| Kieli: | eng |
| Tiivistelmä: | The persistence of success for a sample of large firms from France, Germany and the UK are examined. The problem how to observe the important competitive factors was solved with a structural, autoregressive model which captures both the causes and consequences of the dynamic forces. Three parameters are used to describe long-run profitability, the persistence of profit above the norm, and the role of purely stochastic factors. Results are summarized by countries as well as by industries. The differences in the competitive process in the three countries are measured and interpreted. Country wide factors have turned out be more discriminating than firm or industry specific ones. |
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