Advertising, concentration and profitability in Greek food manufacturing industries
研究了希腊食品饮料制造业中盈利能力、广告和集中度之间的关系，发现广告影响盈利能力，而盈利能力与集中度又反过来影响广告，集中度则由规模经济决定。
The conventional framework for cross-sectional studies of industrial organisation focuses on the hypothesised relations among structure, conduct and performance (SCP). This paper investigates these relationships for the food and beverage manufacturing industries in a European country, i.e., Greece. 3SLS method is used to estimate the parameters of the profitability, concentration and advertising model for a sample of 38 four-digit industries in 1994. The main results, which are in line with the relevant empirical work, show that profitability is determined by advertising, which, in tum, is affected by both profitability and concentration, while the latter is determined by economies of scale. © 1998 Elsevier Science B. V.