Profit Puzzles or : Public Firm Profits Have Fallen

We show that public firm profit rates fell by half since 1980. Inferred as the residual from the rise of US corporate profit rates in aggregate data, private firm profit rates doubled since 1980. Public firm financial returns matched their fall in profit rates, while public firm representativeness increased from 30% to 60% of the US capital stock. These results imply that time-varying selection biases in extrapolating public firms to the aggregate economy can be severe

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Year of publication:	[2022]
Authors:	Davis, Carter ; Sollaci, Alexandre ; Traina, James
Publisher:	[S.l.] : SSRN
Subject:	Rentabilität \| Profitability \| Gewinn \| Profit \| Öffentliches Unternehmen \| Public enterprise \| Theorie \| Theory

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Extent:	1 Online-Ressource (18 p)
Series:	Kelley School of Business Research Paper ; No. 2021-42
Type of publication:	Book / Working Paper
Language:	English
Notes:	Nach Informationen von SSRN wurde die ursprüngliche Fassung des Dokuments November 8, 2021 erstellt
Other identifiers:	10.2139/ssrn.4015573 [DOI]
Classification:	G10 - General Financial Markets. General ; G00 - Financial Economics. General ; G30 - Corporate Finance and Governance. General ; E10 - General Aggregative Models. General ; E20 - Consumption, Saving, Production, Employment, and Investment. General ; E25 - Aggregate Factor Income Distribution ; E22 - Capital; Investment (including Inventories); Capacity ; G32 - Financing Policy; Capital and Ownership Structure ; G12 - Asset Pricing ; D42 - Monopoly
Source:	ECONIS - Online Catalogue of the ZBW

Persistent link: https://www.econbiz.de/10013306917