@article{Schiefer:162878,
      recid = {162878},
      author = {Schiefer, Jan and Hartmann, Monika},
      title = {Industry, firm, year, and country effects on profitability  in EU food processing},
      address = {2013-06-05},
      number = {1548-2016-132426},
      series = {Agricultural and Resource Economics, Discussion Paper},
      pages = {28},
      month = {Jun},
      year = {2013},
      abstract = {This paper decomposes the variance in food industry  return-on-assets into year, country, industry, and firm  effects. Besides these main effects, we include several  interactions and discuss their theoretical foundations.  After determining effect significance in a nested ANOVA  with a rotating pattern of effect introduction, we estimate  effect magnitude using components of variance on a large  sample of corporations. The results show that firm  characteristics are far more important than industry  structure in determining food industry profitability. Main  effects and interactions of year and country membership are  weak, indicating that performance differentials can poorly  be explained by macroeconomic and trade theory.},
      url = {http://ageconsearch.umn.edu/record/162878},
      doi = {https://doi.org/10.22004/ag.econ.162878},
}