One of the main lacks of the profit persistence literature is the fact that it focuses on only manufacturing, banking and food industries. This study, for the first time, extends the literature by considering the intensity of competition in 13 energy companies from 1997 to 2011 in Turkey as an...

It’s expected that the increasing competition will influence the firms on many ways. Under the competitive environment, firm’s abnormal profits will erode. On this context, profitability of competing firms will not be persistent in the long run and therefore decrease. The hypothesis which...