Quotation Crespo Cuaresma, Jesus, Gschwandtner, Adelina. 2009. Explaining the persistence of profits: A time-varying approach. ANNUAL MEETING OF THE AUSTRIAN ECONOMIC ASSOCIATION NOeG, Linz, Österreich, 22.09-23.09.


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Abstract

The present paper analyzes the determinants of profit persistence using a newly developed methodology that allows for the persistence parameter to vary with time. It therefore addresses a significant limitation of previous persistence models, which have assumed unrealistically that persistence is fixed over relatively long period of 20 years upwards. The concentration of the industry is found to have a significant positive impact on profit persistence. However, at firm level, market share and risk have surprisingly a negative impact.

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Publication's profile

Status of publication Published
Affiliation WU
Type of publication Paper presented at an academic conference or symposium
Language English
Title Explaining the persistence of profits: A time-varying approach
Event ANNUAL MEETING OF THE AUSTRIAN ECONOMIC ASSOCIATION NOeG
Year 2009
Date 22.09-23.09
Country Austria
Location Linz
URL http://www.econ.jku.at/1406/

Associations

People
Crespo Cuaresma, Jesus (Details)
Gschwandtner, Adelina (Former researcher)
Organization
Institute for Statistics and Mathematics IN (Details)
Institute for Macroeconomics IN (Details)
Research Institute for Human Capital and Development FI (Details)
Research areas (ÖSTAT Classification 'Statistik Austria')
5323 Econometrics (Details)
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