TY  - CHAP
TI  - Explaining the persistence of profits: A time-varying approach
AB  - 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.
AF  - ANNUAL MEETING OF THE AUSTRIAN ECONOMIC ASSOCIATION NOeG
PP  - Linz
UR  - http://www.econ.jku.at/1406/
PY  - 2009-01-01
AU  - Crespo Cuaresma, Jesus 
AU  - Gschwandtner, Adelina 
ER -