Bauman, Mark P. - In: Review of Accounting and Finance 13 (2014), pp. 191-205
Purpose –The purpose of this study is to re-examine the relation between changes in profit margin (?PM) and changes in return on net operating assets (?RNOA) by partitioning on the direction of the change in PM. DuPont analysis provides a means of disaggregating a firm’s return on net...