Empirical models of firm-level profitability based on UK panel data

Kevin Denny and John van Reenen

No 199316, Working Papers from School of Economics, University College Dublin

Abstract: Applied Industrial Economics has suffered from the criticism that most of the variables of interest, such as market structure and firm performance are inherently endogenous. We outline the three common approaches to the problem and suggest a fourth which uses panel data. Some simple empirical models of profitability are tested using data on 718 large U.K. companies between 1972 and 1986. [extract]

Keywords: Profitability; Panel data; Instrumental variables; Persistence; Industrial organization (Economic theory); Profit--Econometric models; Instrumental variables (Statistics) (search for similar items in EconPapers)
JEL-codes: L11 (search for similar items in EconPapers)
Date: 1993-06
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Citations: View citations in EconPapers (1)

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