secure persistently superior performance via investments in better management and organization. We empirically analyze the … over time, and even after controlling for unobserved profit shocks exploiting intermediates utilization. Results are … management is driven by two key organizational trade-offs: employee initiative vs. coordination as well as exploration of novel …

profit-deviating preferences from the state-defined regulatory status of nonprofit production. We argue that this separation … is crucial in providing predictions about the underlying forces which allow the coexistence of nonprofit and for-profit … separating choice of nonprofit status from profit-deviating preferences, the paper provides predictions about the forces which …

I analyze skill's role in active management under general equilibrium with many assets and costly trading. More …' future returns. Becoming more skilled, however, can reduce a manager's expected profit if enough other managers also become … more skilled. The greater skill allows those managers to identify profit opportunities more accurately, but active …

estimated. Using the full rainfall distribution and our profit function estimates, we find that Indian farmers on average under … expected profits. Farmers who use skilled forecasts have increased average profit levels but also have more variable profits …

The purpose of this paper is to treat scale economies, profit-maximizing markups, economic profitability, capacity … run profit potential from markup behavior. As a result, on average economic profits are normal, but declining … profitability is prevalent in most industries since the early 1970s. Also, although cost and revenue shares tend to be approximately …

This paper examines the impact of unionization on profit- ability, growth and productivity using time series data on … negative union effects on profitability, but growth, productivity and the capital-labor ratio appear to be little affected by … may have longer term implications for efficiency since the impact on profitability appears to fall most heavily on firms …

Profitability, as measured by gross profits-to-assets, has roughly the same power as book-to-market predicting the …, despite having, on average, lower book-to-markets and higher market capitalizations. Controlling for profitability also … profitability explains most earnings related anomalies, as well as a wide range of seemingly unrelated profitable trading strategies …