We decompose the variance of food industry return-on-assets into industry, firm, year and country effects. After determining significance in a nested ANOVA, we estimate the magnitude using components of variance in a large sample of corporations. As a robustness check, we estimate a multilevel...

type="main" xml:id="jage12061-abs-0001" <title type="main">Abstract</title> <p>This paper decomposes the variance in EU food industry return-on-assets into year, country, industry and firm effects using a hierarchical linear model (HLM). The HLM approach accounts for some of the methodological drawbacks of conventional...</p>

Based on autoregressive (AR) models and Arellano-Bond dynamic panel estimation, this article analyses profit persistence in the European dairy processing industry. The sample comprises 590 dairy processors from the following five countries: Belgium, France, Italy, Spain, and the United Kingdom....

The dynamic structure of profit rates for 156 US manufacturing companies is analysed by means of fractional integration techniques as an alternative to the commonly used ARIMA models with respect to the 'persistence of profits'. Thereby the pseudo-spectral density aproach of Velasco and Robinson...

Dynamic competitive models of industry evolution suggest that firm profit will be more volatile and turnover will be lower in industries with higher sunk costs. These implications are consistent with empirical observation.

The present paper attempts to bring further evidence on the behavioural gap for organic food in Britain. The stated preferences are analysed by contingent valuation, while the revealed preferences are estimated by hedonic pricing. A small but significant gap in the premium for organic food...

This paper attempts to assemble evidence for the relationship between the product and the financial market. Drawing back on work in industrial organization, we analyze the relationship between profit persistence and expected stock returns. We show that long-run profit persistence together with...

<title>Abstract</title> <italic>The present paper analyzes the determinants of profit persistence using a newly developed methodology that allows the persistence parameter to vary with time. It therefore addresses a significant limitation of previous persistence models, which have assumed unrealistically that...</italic>

Two of the most robust results from dynamic competitive models of industrial organization suggest that higher-sunk-cost industries should exhibit higher intertemporal variability in the market value of their firms and lower intertemporal variability in the size of their industries. These...