Laitinen, Erkki K. - In: Journal of entrepreneurial finance : JEF ; official … 19 (2017) 2, pp. 1-28
This study develops a mathematical framework to analyze the time series of profitability ratios in the early stages of … adjustment processes of three kinds of profitability ratios are investigated: return on investment ratio, profit margin (as … rate, and lag structure strongly affect the early time-series behavior of profitability ratios. Thus, in the early years …