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The Effects of Competition, Liquidity and Exports on Markups: Evidence from the UK Food and Beverages Sector. / Amountzias, Chrysovalantis.

In: Journal of Industry, Competition and Trade, Vol. 18, No. 2, 01.06.2018, p. 187-208.

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@article{467b4502435643d083f82cfde3e1678e,
title = "The Effects of Competition, Liquidity and Exports on Markups: Evidence from the UK Food and Beverages Sector",
abstract = "This study investigates the pricing decisions of the UK food and beverages sector over 2007–2016. The markup model formulated by Hall (1988) and Roeger (1995) is employed where market power is expressed in terms of pricing decisions reflected by the difference between the price level and the marginal cost of production. The analysis is conducted under three steps: the first step estimates the markup ratio of the UK food and beverages sector over 2007–2016; the second step provides the price-cost margin of the 32 4 digit level NACE Rev.2 constituent industries over 2007–2016; and the last step tests the relationship between the cross-sectional estimates of market power and the structural effects of concentration, liquidity and exports over 2009, 2011, 2015 and 2016. The results suggest the presence of imperfect competitive conduct in the sector, while the three structural effects appear to have a significant influence on the pricing decisions of the UK food and beverages industries.",
keywords = "Markup ratio, UK, Food and beverages sector, Concentration, Liquidity, Hall-Roeger approach",
author = "Chrysovalantis Amountzias",
note = "This document is the Accepted Manuscript of the following article: Chrysovalantis Amountzias, {\textquoteleft}The Effects of Competition, Liquidity and Exports on Markups: Evidence from the UK Food and Beverages Sector{\textquoteright}, Journal of Industry, Competition and Trade, Vol. 18 (2): 187-208, June 2018. Under embargo until 5 September 2019. The final publication is available at Springer via: https://doi.org/10.1007/s10842-017-0260-5",
year = "2018",
month = jun,
day = "1",
doi = "10.1007/s10842-017-0260-5",
language = "English",
volume = "18",
pages = "187--208",
journal = "Journal of Industry, Competition and Trade",
issn = "1566-1679",
publisher = "Springer Verlag",
number = "2",

}

RIS

TY - JOUR

T1 - The Effects of Competition, Liquidity and Exports on Markups: Evidence from the UK Food and Beverages Sector

AU - Amountzias, Chrysovalantis

N1 - This document is the Accepted Manuscript of the following article: Chrysovalantis Amountzias, ‘The Effects of Competition, Liquidity and Exports on Markups: Evidence from the UK Food and Beverages Sector’, Journal of Industry, Competition and Trade, Vol. 18 (2): 187-208, June 2018. Under embargo until 5 September 2019. The final publication is available at Springer via: https://doi.org/10.1007/s10842-017-0260-5

PY - 2018/6/1

Y1 - 2018/6/1

N2 - This study investigates the pricing decisions of the UK food and beverages sector over 2007–2016. The markup model formulated by Hall (1988) and Roeger (1995) is employed where market power is expressed in terms of pricing decisions reflected by the difference between the price level and the marginal cost of production. The analysis is conducted under three steps: the first step estimates the markup ratio of the UK food and beverages sector over 2007–2016; the second step provides the price-cost margin of the 32 4 digit level NACE Rev.2 constituent industries over 2007–2016; and the last step tests the relationship between the cross-sectional estimates of market power and the structural effects of concentration, liquidity and exports over 2009, 2011, 2015 and 2016. The results suggest the presence of imperfect competitive conduct in the sector, while the three structural effects appear to have a significant influence on the pricing decisions of the UK food and beverages industries.

AB - This study investigates the pricing decisions of the UK food and beverages sector over 2007–2016. The markup model formulated by Hall (1988) and Roeger (1995) is employed where market power is expressed in terms of pricing decisions reflected by the difference between the price level and the marginal cost of production. The analysis is conducted under three steps: the first step estimates the markup ratio of the UK food and beverages sector over 2007–2016; the second step provides the price-cost margin of the 32 4 digit level NACE Rev.2 constituent industries over 2007–2016; and the last step tests the relationship between the cross-sectional estimates of market power and the structural effects of concentration, liquidity and exports over 2009, 2011, 2015 and 2016. The results suggest the presence of imperfect competitive conduct in the sector, while the three structural effects appear to have a significant influence on the pricing decisions of the UK food and beverages industries.

KW - Markup ratio

KW - UK

KW - Food and beverages sector

KW - Concentration

KW - Liquidity

KW - Hall-Roeger approach

UR - http://www.scopus.com/inward/record.url?scp=85029007703&partnerID=8YFLogxK

U2 - 10.1007/s10842-017-0260-5

DO - 10.1007/s10842-017-0260-5

M3 - Article

VL - 18

SP - 187

EP - 208

JO - Journal of Industry, Competition and Trade

JF - Journal of Industry, Competition and Trade

SN - 1566-1679

IS - 2

ER -