Competing models of firm profitability
UNSPECIFIED (2004) Competing models of firm profitability. In: Annual Meeting of the European-Association-for-Research-in-Industrial-Economics (EARIE), Helsinki, FINLAND, AUG, 2003. Published in: INTERNATIONAL JOURNAL OF INDUSTRIAL ORGANIZATION, 22 (3). pp. 289-308.Full text not available from this repository.
Official URL: http://dx.doi.org/10.1016/j.ijindorg.2003.12.001
In this paper, I look at four models of firm profitability: two taken from Industrial Organization, one from Finance, and one from the Economics of Exhaustible Resources. Only one predicts that there will be a positive relationship between firm profitability and the structure of the market in which the firm operates, and only that one views high profits as an indication of monopoly power. Nevertheless, most antitrust authorities base their policies on a belief in those relationships. Using panel data from 14 nonferrous-metal mining and refining markets, I find strong empirical support only for the market-structure model. (C) 2004 Elsevier B.V. All rights reserved.
|Item Type:||Conference Item (UNSPECIFIED)|
|Subjects:||H Social Sciences > HC Economic History and Conditions|
|Journal or Publication Title:||INTERNATIONAL JOURNAL OF INDUSTRIAL ORGANIZATION|
|Publisher:||ELSEVIER SCIENCE BV|
|Number of Pages:||20|
|Page Range:||pp. 289-308|
|Title of Event:||Annual Meeting of the European-Association-for-Research-in-Industrial-Economics (EARIE)|
|Location of Event:||Helsinki, FINLAND|
|Date(s) of Event:||AUG, 2003|
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