This paper explains the increasing difference between the profit margins of differentiated and undifferentiated Greek food manufacturing industries between 1988 and 1994, using panel data. The 2SLS results for the fixed effects model show important differences across the high, medium and low...

This paper uses firm level data to examine the market power versus efficiency hypothesis by taking into consideration both the long-run behavior of profitability and the possible endogeneity bias among profitability, market share, and advertising variables. In a sample of 266 Greek food...