quantitatively large. Our findings suggest that the profitability gap is partly driven by agency costs which arise if value … communication and travel costs over the last decade, the profitability gap is shown to decline over time. Apart from that, our … profitability gap. We discuss various implications of our findings. …

quantitatively large. Our findings suggest that the profitability gap is partly driven by agency costs which arise if value … communication and travel costs over the last decade, the profitability gap is shown to decline over time. Apart from that, our … profitability gap. We discuss various implications of our findings. -- profit distribution ; multinational enterprise ; corporate …