Heterogeneity in Firm Performance - Stierwald, Andreas
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Firm performance is of fundamental importance in economic analysis because the prosperity of an economy ultimately depends on its productivity which, in turn, depends on the success of rms. The objective of this book is to improve the understanding of what drives rm performance. It analyzes the causes and consequences of heterogeneity in rm performance using two common indicators: productivity and pro tability. The empirical investigation employs a panel dataset that comprises 1,206 large Australian rms and covers the period from 1995 to 2005. The results in this book highlight the…mehr

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Produktbeschreibung
Firm performance is of fundamental importance in economic analysis because the prosperity of an economy ultimately depends on its productivity which, in turn, depends on the success of rms. The objective of this book is to improve the understanding of what drives rm performance. It analyzes the causes and consequences of heterogeneity in rm performance using two common indicators: productivity and pro tability. The empirical investigation employs a panel dataset that comprises 1,206 large Australian rms and covers the period from 1995 to 2005. The results in this book highlight the heterogeneity in rm performance. The evidence suggests that there are substantial and persistent di erences in performance across rms, in particular with respect to productivity and profitability. Pro tability is predominantly determined by unique and fundamental characteristics of the rm, and productivity and productivity persistence are signi cant factors among them. The lack of industry e ects suggests that heterogeneity in rm performance is not necessarily related to market failure and anti-competitive behavior. There is no strong evidence that market failures are prominent in the economy.
Autorenporträt
Andreas Stierwald, PhD: Studied Economics at Otto-von-Guericke University Magdeburg and University of Melbourne. Andreas lives and works in Melbourne.