Explaining the persistence of profits: A time-varying approach

Description

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.

Period	28 Oct 2009
Event title	Research Seminar Presentation
Event type	Unkonwn