unions are remarkable: unions in the workplace significantly improve productivity but reduce enterprise profitability …

intensity of market competition in terms of the persistence of firm profitability from year to year. The fundamental notion is … to its own “normal” level of profitability, as determined by its command over various strategic resources. We examine the … extent to which deviations from their expected values of profitability tend to be corrected among quoted companies in China …

As emerging economies integrate their markets with the rest of the world, competition driven changes in profitability … profitability distributions under such conditions using China’s WTO accession as a natural experiment, to carry out before and after … comparisons. Our results suggest that after WTO accession, the long run (ergodic) distribution of conditional profitability rates …