We contribute to the literature of the country, industry and firm effects on performance by developing an autoregressive cross-classified mixed-effect linear model that examines heterogeneity in the profitability of corporations in emerging and developed economies, as well as corporations located in different supranational regions. To this purpose, we simultaneously decompose abnormal returns into permanent and transitory components at the firm, industry, country and industry–country levels. We find that firms in emerging countries have significantly higher rates of performance persistence and different sources of persistence compared to firms located in developed countries. These differences are also evident between different supranational regions and countries at different levels of institutional development.
Abstract For more than a century, communities across the United States legally employed strategies to create and maintain racial divides. One particularly widespread and effective practice was that of “sundown towns,” which signaled to African Americans and others that they were not welcome within the city limits after dark. Though nearly 1,000 small towns, larger communities, and suburbs across the country may have engaged in these practices, until recently there has been little scholarship on the topic. Drawing from qualitative and quantitative sources, this article presents a case study of a midwestern rural community with a sundown history. Since 1990 large numbers of Mexican migrants have arrived there to work at the local meat‐processing plant, earning the town the nickname “Little Mexico.” The study identifies a substantial decline in Hispanic‐white residential segregation in the community between 1990 and 2000. We consider possible explanations for the increased spatial integration of Latino and white residents, including local housing characteristics and the weak enforcement of preexisting housing policies. We also describe the racialized history of this former sundown town and whether, paradoxically, its history of excluding nonwhites may have played a role in the spatial configurations of Latinos and non‐Hispanic whites in 2000. Scholars investigating the contemporary processes of Latino population growth in “new” destinations, both in metropolitan and nonmetropolitan areas, may want to explore the importance of sociohistorical considerations, particularly localities' racialized historical contexts before the arrival of Mexican and other Latino immigrants. 相似文献