The main norms of the market performance of an industry
Part of : Αρχείον οικονομικής ιστορίας ; Vol.XIII, No.1, 2001, pages 89-100
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89-100
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In this article we discuss the main norms which have been developed in economic literature for measuring the market performance of an industry, that is: The technical perfromance, relating to the extent that products are manufactured in plants and firms of an efficient size.The allocative performance, relating to the long-run association between prices and marginal costs, as reflected in the profit margins. The innovation performance which includes the relative success with which industries seek out and adopt new processes and products. The promotional performance which will be reflected in the ratio of the selling costs to costs of production. Another measures of market performance is Tobin’s p, which is the ratio of the market value of a firm to its value based upon the replacement cost of its assets.
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