The article investigated the convergence of real gross domestic product (GDP) per capita at the state level in Brazil during the 1985-1999 period. Departures across states were evaluated in terms of panel data unit root tests advanced by Im et al. (2003). The evidence indicated that one cannot...

The commodity price boom that emerged in 2004 has proved far more persevering than its predecessors of 1950 and 1973. Some analysts have suggested that it may represent the start of a "supercycle" caused by the voracious raw materials demand from China and other emerging economies, with prices...

The paper investigates market share instability in the context of Brazilian industry for the 1986-1998 period. The paper proposes the use of panel data unit root tests to access market share instability for a sample of industrial firms from different sectors and therefore generalizes related...

The paper investigates the relationship between profit margins and business cycle in the Brazilian industry during the 1992-1998 period, taking as reference a dynamic panel data model founded around a conjectural variation framework. The empirical results indicate procyclical behaviour of profit...

The TRIPS Agreement, which specifies minimum levels of intellectual property protection for countries in the WTO, has increased levels of patent protection around the world. Using variation across countries in the timing of patent laws and the severity of disease, we test the hypothesis that...

The Strategic Management field has matured over the last decade. We now face a number of critical issues that, taken together, suggest that now is the time to take hold of new ideas for explaining and predicting organizational performance. First, our courses--once among the most exciting and...

Debates on "shareholder" and "stakeholder" approaches to corporate governance often get bogged down in competing normative claims about economic rent streams, entitlements of different group members, fairness, and similar distributional issues. These concerns are important, but core economic...

In this study, we use data for 1981 through 1994 on a large sample of U.S. companies to examine the persistence of incremental industry, corporate-parent, and business-specific effects on profitability. Our results indicate that the incremental effects of industry on profitability persist longer...