Intra-Industry Performance Comparison and Industrial Concentration
研究了规模经济在衡量产业集中度与利润关系中的作用，利用重置成本数据评估传统会计报表的价格偏差，发现中集中度行业的大企业有微弱高回报，但非规模经济所致。
This study examines the importance of economies of scale in measuring the concentration-profits relationship. Firms are grouped into industries facilitating within industry analyses. Replacement cost disclosures are utilized to evaluate any price change bias resulting from the use of traditional accounting statements. This study produces no indication of economies of scale in high or low concentration industries. In medium concentration industries there is a weak tendency for larger firms to have higher returns. This result cannot, however, be attributed to scale economies. Observed replacement cost price adjustments are not randomly distributed across firms.