Arbeitspapier
Persistence and determinants of firm profit in emerging markets
The paper studies the persistence of profit and its determinants in emerging markets. We apply Markov chain analysis, dynamic panel GMM estimation, and quantile regression techniques to a panel of approximately 3,000 Ukrainian companies. The empirical results show a moderate level of profit persistence, as well as a relatively low speed of adjustment to the steady-state profit level, thus providing no support for the hypothesis that there is a lower persistence of profits in emerging markets due to more intense competition. Regarding the determinants of firm profit in an emerging market economy, the findings from alternative methods reveal that ownership structure and regional location of the firm have a significant impact.
- Language
-
Englisch
- Bibliographic citation
-
Series: DIW Discussion Papers ; No. 848
- Classification
-
Wirtschaft
Financing Policy; Financial Risk and Risk Management; Capital and Ownership Structure; Value of Firms; Goodwill
Corporate Finance and Governance: General
- Subject
-
Profit
persistence
convergence
Markov chain analysis
Ukraine
Gewinn
Unternehmensentwicklung
Hysteresis
Wirtschaftliche Anpassung
Übergangswirtschaft
Eigentümerstruktur
Standort
Ukraine
- Event
-
Geistige Schöpfung
- (who)
-
Stephan, Andreas
Tsapin, Andriy
- Event
-
Veröffentlichung
- (who)
-
Deutsches Institut für Wirtschaftsforschung (DIW)
- (where)
-
Berlin
- (when)
-
2008
- Handle
- Last update
-
10.03.2025, 11:43 AM CET
Data provider
This object is provided by:
ZBW - Deutsche Zentralbibliothek für Wirtschaftswissenschaften - Leibniz-Informationszentrum Wirtschaft. If you have any questions about the object, please contact the data provider.
ZBW - Deutsche Zentralbibliothek für Wirtschaftswissenschaften - Leibniz-Informationszentrum Wirtschaft. If you have any questions about the object, please contact the data provider.
Object type
- Arbeitspapier
Associated
- Stephan, Andreas
- Tsapin, Andriy
- Deutsches Institut für Wirtschaftsforschung (DIW)
Time of origin
- 2008
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