Determinants of firm profitability in the Croatian manufacturing industry: evidence from dynamic panel analysis (CROSBI ID 264532)
Prilog u časopisu | izvorni znanstveni rad | međunarodna recenzija
Podaci o odgovornosti
Pervan, M ; Pervan, I ; Ćurak, M.
engleski
Determinants of firm profitability in the Croatian manufacturing industry: evidence from dynamic panel analysis
Given that the goal of this study was to examine the influence of different factors on a firm’s profitability, we designed a model with three categories of profitability determinants: firm-specific, industry-specific and macroeconomic. The analysis was performed on 9359 firms operating in the Croatian manufacturing industry during the 2006–2015 period. Since the designed model was formulated in a way that encompasses the dynamic aspect of profitability, the General Method of Moments (G.M.M.) dynamic panel estimator was applied. Formulation of such a model adds to the existing literature if one takes into account that a dynamic analysis of the drivers of profitability has not been done using data from the Croatian manufacturing sector. The results of the conducted analysis revealed that a firm’s age, labour cost and industry concentration, as well as G.D.P. growth and inflation, have significant influence on a firm’s profitability.
Firm profitability, manufacturing industry, Croatia, panel data analysis
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Podaci o izdanju
31 (1)
2019.
968-981
objavljeno
1331-677X
1848-9664
10.1080/1331677X.2019.1583587