What drives changes in relative industry profitability? Why are some industries consistently profitable over long periods of time? In our new white paper, Robeco Trends analyst Steef Bergakker looks at the way industry profitability is affected by secular trends and disruptive innovations.
The white paper shows that economic profits are distributed across industries according to a power law, which means that the bulk of those profits are earned by relatively few industries. It also shows that firms with business models that are based on tangible assets – buildings or land – tend to underperform, compared to those with intangible assets, such as reputation or intellectual property.
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