Persistence of Profit in Energy Industry: Dynamic Evidence from Turkish Companies
One of the main lacks of the profit persistence literature is the fact that it focuses on only manufacturing, banking and food industries. This study, for the first time, extends the literature by considering the intensity of competition in 13 energy companies from 1997 to 2011 in Turkey as an emer...
| Main Authors: | , |
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| Format: | Article |
| Language: | English |
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EconJournals
2015-04-01
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| Series: | International Journal of Economics and Financial Issues |
| Online Access: | https://www.econjournals.com/index.php/ijefi/article/view/1205 |
| _version_ | 1797908297671507968 |
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| author | Onur Gozbasi Alper Aslan |
| author_facet | Onur Gozbasi Alper Aslan |
| author_sort | Onur Gozbasi |
| collection | DOAJ |
| description |
One of the main lacks of the profit persistence literature is the fact that it focuses on only manufacturing, banking and food industries. This study, for the first time, extends the literature by considering the intensity of competition in 13 energy companies from 1997 to 2011 in Turkey as an emerging market. The results show that the degree of persistence is higher in the energy industry mainly due to a low degree of market saturation, weak price competition and a lowly concentrated retailing industry, thus providing no support for the hypothesis that there is a lower persistence of profits in emerging markets due to more intense competition in Turkey.
Keywords: Persistence of Profit; Energy Industry, Competition
JEL Classifications: C22; G30; L10
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| first_indexed | 2024-04-10T10:50:30Z |
| format | Article |
| id | doaj.art-fbecd4201fb94394bc4b04f41e47ed55 |
| institution | Directory Open Access Journal |
| issn | 2146-4138 |
| language | English |
| last_indexed | 2024-04-10T10:50:30Z |
| publishDate | 2015-04-01 |
| publisher | EconJournals |
| record_format | Article |
| series | International Journal of Economics and Financial Issues |
| spelling | doaj.art-fbecd4201fb94394bc4b04f41e47ed552023-02-15T16:20:10ZengEconJournalsInternational Journal of Economics and Financial Issues2146-41382015-04-0152Persistence of Profit in Energy Industry: Dynamic Evidence from Turkish CompaniesOnur GozbasiAlper Aslan0Nevsehir Hacı Bektas Veli University, Nevsehir One of the main lacks of the profit persistence literature is the fact that it focuses on only manufacturing, banking and food industries. This study, for the first time, extends the literature by considering the intensity of competition in 13 energy companies from 1997 to 2011 in Turkey as an emerging market. The results show that the degree of persistence is higher in the energy industry mainly due to a low degree of market saturation, weak price competition and a lowly concentrated retailing industry, thus providing no support for the hypothesis that there is a lower persistence of profits in emerging markets due to more intense competition in Turkey. Keywords: Persistence of Profit; Energy Industry, Competition JEL Classifications: C22; G30; L10 https://www.econjournals.com/index.php/ijefi/article/view/1205 |
| spellingShingle | Onur Gozbasi Alper Aslan Persistence of Profit in Energy Industry: Dynamic Evidence from Turkish Companies International Journal of Economics and Financial Issues |
| title | Persistence of Profit in Energy Industry: Dynamic Evidence from Turkish Companies |
| title_full | Persistence of Profit in Energy Industry: Dynamic Evidence from Turkish Companies |
| title_fullStr | Persistence of Profit in Energy Industry: Dynamic Evidence from Turkish Companies |
| title_full_unstemmed | Persistence of Profit in Energy Industry: Dynamic Evidence from Turkish Companies |
| title_short | Persistence of Profit in Energy Industry: Dynamic Evidence from Turkish Companies |
| title_sort | persistence of profit in energy industry dynamic evidence from turkish companies |
| url | https://www.econjournals.com/index.php/ijefi/article/view/1205 |
| work_keys_str_mv | AT onurgozbasi persistenceofprofitinenergyindustrydynamicevidencefromturkishcompanies AT alperaslan persistenceofprofitinenergyindustrydynamicevidencefromturkishcompanies |