The persistence of shocks to profitability
Article Abstract:
A large sample of publicly listed US companies during the period from 1981 to 1994 was used to study the persistence of incremental industry, corporate-parent and business-segment effects on profitability. It was suggested that incremental industry effects persist longer than incremental business-segment effects. It was also shown that business-specific effects erode faster for low performers than high performers. Results indicated the importance of industry structure to firm performance.
Publication Name: Review of Economics and Statistics
Subject: Mathematics
ISSN: 0034-6535
Year: 1999
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Fuzzy common knowledge
Article Abstract:
Common knowledge was proposed by Aumann (1976) as a mathematical formulation of the basic game theory assumption that game structure is known to both players and that both players are aware of the other's knowledge. This concept of common knowledge has other uses. For example, it can be extended to fuzzy events, in which case, the basic assumption is that the world's known properties can be seen as fuzzy predicates.
Publication Name: The Journal of Mathematical Economics
Subject: Mathematics
ISSN: 0304-4068
Year: 1995
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Common persistence in conditional variances
Article Abstract:
An analysis of the persistence in conditional variances is presented. The analysis considers the case of the autoregressive conditional heteroskedastic (ARCH) model which has numerous applications. It is shown that the presence of an approximate unit root persists in studies involving the model, as in the estimated autoregressive polynomial for conditional second moments in the integrated generalized ARCH model.
Publication Name: Econometrica
Subject: Mathematics
ISSN: 0012-9682
Year: 1993
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