PROFIT PERSISTENCE IN STATIONARY SERIES: EVIDENCE FROM A NEW DATASET

Beschreibung

One of the main shortcomings of the profit persistence literature is the fact that it looks only at surviving companies. This paper uses an unique dataset to analyze profit persistence in two different stationary series: 85 surviving US companies from 1950-1999 and 72 exiters. While the exiters perform more competitive than the survivors there is still significant evidence for profit persistence in both samples. Concentration and growth of the industry as well as size and volatility of profits seem to play an important role in explaining persistence.

Zeitraum	20 Aug. 2004 → 24 Aug. 2004
Ereignistitel	Annual Conference of the European Economic Associaiton (EEA/ESEM)
Veranstaltungstyp	Keine Angaben
Bekanntheitsgrad	International