The Dynamics of Company Profits
ISBN: , SKU: , AUTHOR: Mueller, Dennis C. / Cubbin, John, PUBLISHER: Cambridge University Press, Do company profits eventually converge on a common, competitive ong>levelong>? How long does the convergence process take? This book seeks to answer these questions through a comparison of company profitability using time series data compiled at the firm ong>levelong> and at the industry ong>levelong> in Canada, France, Japan, Sweden, West Germany, the United Kingdom, and the United States. The emphasis is on long run, dynamic processes and the perspective is that of Joseph Schumpeter, with profits converging if at all to competitive ong>levelong>s only in the long run. The basic methodology of the book is presented in one chapter, with the subsequent chapters focusing on results for individual countries. A summary chapter presenting major conclusions and implications concludes the book.