Graham, Mary E.; Hotchkiss, Julie L. - Federal Reserve Bank of Atlanta - 2008
a large extent by industry norms, practices, and
3
industries’ economic and business environments (Baron and Bielby …
experience similar outcomes across business cycles and over time, due to the influence of
industry characteristics of product ….g.,
industry structure) than others (e.g., business cycles) (Hawawini, Subramanian, and Verdin,
2003).
Industry is a key …