Persistence of firm-level profitability in the European dairy industry

@inproceedings{Hirsch2013PersistenceOF,
  title={Persistence of firm-level profitability in the European dairy industry},
  author={Stefa Hirsch and Marco Hartmann},
  year={2013}
}
Based on autoregressive (AR) models and Arellano-Bond dynamic panel estimation this article analyses profit persistence in the European dairy industry. The sample comprises 590 dairy processors from the following five countries: Belgium, France, Italy, Spain and the UK. The AR models indicate that cooperatives which account for around 20% of all firms in the dairy sector are not primarily profit oriented. In addition, the results point towards a high level of competition as profit persistence… CONTINUE READING

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