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Persistence and Determinants of Firm Profit in Emerging Markets
Jönköping University, Jönköping International Business School, JIBS, Economics. Jönköping University, Jönköping International Business School, JIBS, Accounting and Finance.
2008 (English)In: Applied Economics Quarterly, ISSN 1611-6607, Vol. 54, no 4, 231-253 p.Article in journal (Refereed) Published
Abstract [en]

The paper studies the persistence of profit and its determinants in emerging markets. We apply Markov chain analysis, dynamic panel GMM estimation, and quantile regression techniques to a panel of approximately 3,000 Ukrainian companies. The empirical results show a moderate level of profit persistence, as well as a relatively low speed of adjustment to the steady-state profit level, thus providing no support for the hypothesis that there is a lower persistence of profits in emerging markets due to more intense competition. Regarding thedeterminants of firm profit in an emerging market economy, the findings from alternative methods reveal that ownership structure and regional location of the firm have a significant impact.

Place, publisher, year, edition, pages
Berlin: Duncker & Humblod , 2008. Vol. 54, no 4, 231-253 p.
Keyword [en]
profit, persistence, convergence, Markov chain analysis, Ukraine
Identifiers
URN: urn:nbn:se:hj:diva-6655OAI: oai:DiVA.org:hj-6655DiVA: diva2:113820
Available from: 2008-10-29 Created: 2008-10-29 Last updated: 2010-01-13Bibliographically approved

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