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 …

while moderately risk tolerant entrepreneurs survive more often. Second, the high risk-low profit part of the U …-shaped relation seems to disappear among businesses being four years and older, indicating that such inferior risk-profit combinations …