CORPORATE PRODUCTIVITY GROWTH: CHAMPIONS, LEADERS, AND LAGGARDS

CORPORATE PRODUCTIVITY GROWTH: CHAMPIONS, LEADERS, AND LAGGARDS

This paper examines the relative productivity growth performance of a sample of large UK firms between 1986 and 1995. We find that superior productivity growth, however measured, is not persistent—firms with high productivity growth rates relative to (say) the average in 1 yr are as likely as not to...

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Bibliographic Details
Published in:Economic inquiry Vol. 47; no. 1; pp. 1 - 17
Main Authors: GEROSKI, PAUL, KRETSCHMER, TOBIAS, WALTERS, CHRIS
Format: Journal Article
Language:English
Published: Malden, USA Blackwell Publishing Inc 01-01-2009
Western Economic Association International
Blackwell Publishers Ltd
Western Economic Association
Series:Economic Inquiry
Subjects:
Analysis
Competition
Economic growth
Estimates
GDP
Gross Domestic Product
Growth
Growth rate
Industrial productivity
Large enterprises
Leadership
Peers
Productivity
Productivity growth
R&D
Regression analysis
Research & development
Statistics
Studies
United Kingdom
United Kingdom
United Kingdom > UK
Online Access:Get full text
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Summary:This paper examines the relative productivity growth performance of a sample of large UK firms between 1986 and 1995. We find that superior productivity growth, however measured, is not persistent—firms with high productivity growth rates relative to (say) the average in 1 yr are as likely as not to display below‐average performance in the following year. Studying the determinants of the length of time for which firms outperform their peers, we find that innovative firms carrying low debt who are relatively free from financial distress are likely to display whatever persistently superior performance we observe in the data. (JEL D24, O33, O4)
Bibliography:istex:ACDECFC77F75AFF77E194C89EBC219CD6268ADC3
ArticleID:ECIN115
ark:/67375/WNG-V4JVP012-L
We are obliged to the Economic and Social Research Council (ESRC) for financial support. All the opinions expressed in this paper are our own, and the usual disclaimer applies. An anonymous referee provided a number of very useful comments on positioning the paper. Professor Geroski sadly passed away before this version of the paper was completed. We respectfully dedicate this work to his memory.
ObjectType-Article-2
SourceType-Scholarly Journals-1
ObjectType-Feature-1
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ISSN:0095-2583
1465-7295
DOI:10.1111/j.1465-7295.2007.00115.x