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 level? How long does ong>theong> convergence process take? This book seeks to answer ong>theong>se questions through a comparison of company profitability using time series data compiled at ong>theong> firm level and at ong>theong> industry level in Canada, France, Japan, Sweden, West Germany, ong>theong> United ong>Kingdomong>, and ong>theong> United States. ong>Theong> emphasis is on long run, dynamic processes and ong>theong> perspective is that of Joseph Schumpeter, with profits converging if at all to competitive levels only in ong>theong> long run. ong>Theong> basic methodology of ong>theong> book is presented in one chapter, with ong>theong> subsequent chapters focusing on results for individual countries. A summary chapter presenting major conclusions and implications concludes ong>theong> book.