This paper derives from a project on Dynamic Efficiency and Corporate Performance, financed by the ESRC Functioning of Markets Initiative (project number: WI02251013). In research for the paper we have been greatly assisted by I. Ganoulis, who prepared the data set, and John Roe and Catherine Gwilliam, who showed us how to derive equation (6). Very helpful comments on previous versions were received from Katy Graddy, Steve Nickell, Robin Nuttall, Andrew Oswald, Howard Smith, John Vickers and two referees from this Journal.
THE EFFICIENCY OF FIRMS: WHAT DIFFERENCE DOES COMPETITION MAKE?*
Version of Record online: 30 JAN 2012
Royal Economic Society 1997
The Economic Journal
Volume 107, Issue 442, pages 597–617, May 1997
How to Cite
Hay, D. A. and Liu, G. S. (1997), THE EFFICIENCY OF FIRMS: WHAT DIFFERENCE DOES COMPETITION MAKE?. The Economic Journal, 107: 597–617. doi: 10.1111/j.1468-0297.1997.tb00029.x
- Issue online: 30 JAN 2012
- Version of Record online: 30 JAN 2012
- Date of receipt of final typescript: June 1996
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