期刊名称：DIW Diskussionspapiere / Deutsches Institut für Wirtschaftsforschung, Berlin
出版年度：2008
卷号：2008
出版社：Deutsches Institut für Wirtschaftsforschung, Berlin
摘要：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 the
determinants 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.
