Persistence and Determinants of Firm Profit in Emerging Markets

Abstract

Standard-Nutzungsbedingungen:Die Dokumente auf EconStor dürfen zu eigenen wissenschaftlichen Zwecken und zum Privatgebrauch gespeichert und kopiert werden.Sie dürfen die Dokumente nicht für öffentliche oder kommerzielle Zwecke vervielfältigen, öffentlich ausstellen, öffentlich zugänglich machen, vertreiben oder anderweitig nutzen.Sofern die Verfasser die Dokumente unter Open-Content-Lizenzen (insbesondere CC-Lizenzen) zur Verfügung gestellt haben sollten, gelten abweichend von diesen Nutzungsbedingungen die in der dort genannten Lizenz gewährten Nutzungsrechte. Terms of use: Documents in AbstractThe paper studies the persistence of prot 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 prot persistence, as well as a relatively low speed of adjustment to the steady-state prot level, thus providing no support for the hypothesis that there is a lower persistence of prots in emerging markets due to more intense competition. Regarding the determinants of rm prot in an emerging market economy, the ndings from alternative methods reveal that ownership structure and regional location of the rm have a signicant impact.

The persistence of global terrorism

“…The theoretical background underpinning this study is consistent with recent literature on persistence in financial (Stephan & Tsapin, 2008;Goddard, Liu, Molyneux, & Wilson, 2011) and inclusive (Asongu & Nwachukwu, 2017a) development. Moreover, the theoretical perspective is founded on studies which have investigated cross-country convergence in income levels within the framework of neoclassical growth models (Baumol, 1986;Barro, 1991;Barro & Sala-i-Martin, 1992Mankiw, Romer, & Weil, 1992).…”

Geographic location, ownership and profitability of Washington log trucking companies

“…A study by Stephan and Tsapin (2008) on the persistence of profit and its determinants in emerging markets of approximately 3,000 Ukrainian companies suggests that ownership structure and regional location of the firm have a significant impact. However, their empirical results provide no support for the hypothesis that there is a lower persistence of profits due to more intense competition.…”

The Sustainability of Tourism: Global Comparative Evidence

“…The theoretical framework for persistence in tourism builds on recent empirical literature on persistence in inclusive development (Asongu & Nwachukwu, 2017a) and banking sector (Stephan & Tsapin, 2008;Goddard et al, 2011) developments. This theoretical underpinning is consistent with the literature on income convergence which has been substantially documented within the framework of neoclassical growth estimations (Barro, 1991;Barro & Sala-i-Martin, 1992, 1995Mankiw et al, 1992;Baumol, 1986), and recently extended to other domains of economic development, inter alia: financial market performance (Narayan et al, 2011;Bruno et al, 2012;Asongu, 2013) and inclusive human development (Mayer-Foulkes, 2010;Asongu, 2014).…”