O efeito do país sobre o desempenho da firma: uma abordagem multinível

Rafael Guilherme Burstein Goldszmidt, Flávio Carvalho de Vasconcelos and Luiz Artur Ledur Brito

RAE - Revista de Administração de Empresas, 2007, vol. 47, issue 4

Abstract: This paper analyses country effects on fi rm performance. Empirical analysis was based on a sample of 83,641 observations and 10,927 fi rms in 37 countries and 224 industries, in a 10 year time span. A cross-classifi ed 3-level hierarchical linear model allowed the estimation of country, industry and country-industry interaction effects, which had approximately the same relative importance. Altogether, these effects were nearly as important as fi rm effect. The influence of each specific country on the performance of its fi rms was also studied and a ranking of countries based on fi rm profitability was developed.

Date: 2007
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