P. Bauman, Mark - In: Review of Accounting and Finance 13 (2014) 2, pp. 191-205
Purpose – The purpose of this study is to re-examine the relation between changes in profit margin (ΔPM) and changes in return on net operating assets (ΔRNOA) by partitioning on the direction of the change in PM. DuPont analysis provides a means of disaggregating a firm’s return on net...