Stephan, Andreas; Tsapin, Andriy - DIW Berlin (Deutsches Institut für Wirtschaftsforschung) - 2008
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 …