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| Tekijä: | Megna, P. Mueller, D. C. |
| Otsikko: | Profit rates and intangible capital. |
| Lehti: | Review of Economics and Statistics
1991 : NOV, VOL. 73:4, p. 632-642 |
| Asiasana: | PROFITABILITY INTER-INDUSTRY COMPARISONS COMPANIES BY PROFITABILITY R&D COSTS ADVERTISING EXPENDITURE |
| Kieli: | eng |
| Tiivistelmä: | A central question in industrial organization is why profit rates differ so dramatically across firms and industries. One of the many explanations offered for this phenomenon is the failure of conventional accounting methods to adjust for intangible capital stocks, that is it is argued that profit rates do not differ dramatically when capital stocks are correctly calculated to include intangible research and development and advertising capital. To test this hypothesis individual advertising capital stocks are calculated for firms in the toys, distilled beverages, cosmetics, and pharmaceutical industries. |
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