摘要：The objective is to analyze the effects of country- and firm-specific factors on the return on equity in the beverage and tobacco and food and consumer-products industries for 11industrialized nations. The results indicate that country- and firm-specific factors are important in explaining variation in return on equity within countries but not generally across countries or time.
关键词：beverage and tobacco industry;country- and firm-specific factors;food and consumer-products industry;globalization;unbalanced panel data;variation in return on equity
