Stephan, Andreas; Tsapin, Andriy - In: Applied Economics Quarterly (formerly: Konjunkturpolitik) 54 (2008) 4, pp. 231-254
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...