School of Economics

 

profile image for Dr Adelina Gschwandtner

Dr Adelina Gschwandtner

Lecturer in Economics

School of Economics, Keynes College, Cg.02

 

About

Adelina Gschwandtner was born in Bucharest, Romania. After a first degree in Economics at the Bucharest University of Economic Studies, she moved to the University of Vienna, where she was awarded her PhD in 2002.  She subsequently worked at the University of Vienna until 2011, before moving to the Vienna University of Economics and Business (WU). She joined the University of Kent in September 2012.

Adelina's research interests lie in the field of empirical Industrial Organization. Her two main research areas are Profit Persistence and Sunk Costs. She has analysed the pattern and the determinants of profit persistence in the US and the UK over the last 50 years. More recently she has worked on the determinants of profit persistence in the European food sector, and plans to analyse the relationship between food and health. Her papers in this area have been published in Economic Inquiry, Applied Economics, International Journal of Economics and Business and The Manchester School.

Together with Val Lambson, she has analysed the impact of sunk costs on firm value and industry size. In their most recent paper they analyse the impact of depreciation as a proxy for sunk costs both from an empirical and a theoretical point of view. This paper has been awarded the Top Journal Publication prize of the WU, and was published in The Review of Economics and Statistics.

In the course of ongoing research she works at the interface between Industrial Organization and Finance. More specifically, she attempts to analyse the impact of economic fundamentals like profits and profit persistence on stock returns. This project is funded by the Austrian Science Fund (FWF) and was awarded the Theodor Koerner Prize of the Austrian Chamber of Labour.

Most recently, Adelina is performing research on organic food and the economics of happiness.

Adelina is the School's Director of Studies and Chief Examiner for Stage 1.

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Publications

Adelina's publications can also be found on RePEc and ResearchGate.

Also view these in the Kent Academic Repository

Article
Gschwandtner, A. and Hauser, M. (2016). Profit Persistence and Stock Returns. Applied Economics [Online] 48:3538-3549. Available at: http://dx.doi.org/10.1080/00036846.2016.1142652.
Hirsch, S. et al. (2014). The determinants of firm profitability differences in EU food processing. Journal of Agricultural Economics [Online] 65:703-721. Available at: http://dx.doi.org/10.1111/1477-9552.12061.
Gschwandtner, A. and Crespo-Cuaresma, J. (2013). Explaining the persistence of profits: A time-varying approach. International Journal of the Economics of Business 20:125-140.
Hirsch, S. and Gschwandtner, A. (2013). Profit Persistence in the European Food Industry: evidence from five European countries. European Review of Agricultural Economics [Online] 40:741-759. Available at: https://doi-org.chain.kent.ac.uk/10.1093/erae/jbt007.
Gschwandtner, A. and Lambson, V. (2012). Sunk Costs, Depreciation, and Industry Dynamics. Review of Economics and Statistics [Online] 94:1059-1065. Available at: http://dx.doi.org/10.1162/REST_a_00236.
Gschwandtner, A. (2012). Evolution of Profit Persistence in the USA: Evidence from Three Periods. Manchester School [Online] 80:172-209. Available at: http://dx.doi.org/10.1111/j.1467-9957.2011.02277.x.
Cable, J. and Gschwandtner, A. (2008). On Modelling the Persistence of Profits in the Long Run: A Test of the Standard Model for 156 US Companies, 1950–99. International Journal of the Economics of Business [Online] 15:245-263. Available at: http://dx.doi.org/10.1080/13571510802134411.
Cuaresma, J. and Gschwandtner, A. (2008). Tracing the Dynamics of Competition: Evidence from Company Profits. Economic Inquiry [Online] 46:208-213. Available at: http://dx.doi.org/10.1111/j.1465-7295.2007.00062.x.
Gschwandtner, A. and Hauser, M. (2008). Modelling Profit Series: Nonstationarity and long Memory. Applied Economics 40:1475-1482.
Crespo-Cuaresma, J. and Gschwandtner, A. (2006). The competitive environment hypothesis revisited: Nonlinearity, nonstationarity and profit persistence. Applied Economics 38:465-472.
Gschwandtner, A. and Lambson, V. (2006). Sunk Costs, Profit Volatility, and Turnover. Economic Inquiry 44:367-373.
Gschwandtner, A. (2005). Profit Persistence in the "Very" Long Run: Evidence from Survivors and Exiters. Applied Economics 37:793-806.
Monograph
Gschwandtner, A. and Burton, M. (2017). The Willingness to Pay for Organic Attributes in the UK: Discussion Paper 17/02. University of Kent. Available at: https://www.kent.ac.uk/economics/documents/research/papers/2017/1702.pdf.
Gschwandtner, A., Jewell, S. and Kambhampati, U. (2016). On the Relationship between Lifestyle and Happiness in the UK: Discussion paper 16/13. University of Kent. Available at: https://www.kent.ac.uk/economics/documents/research/papers/2016/1613.pdf.
Gschwandtner, A. and Hirsch, S. (2016). What drives firm profitability? A comparison of the US and EU food processing industry: Discussion Paper 16/12. University of Kent. Available at: https://www.kent.ac.uk/economics/documents/research/papers/2016/1612.pdf.
Gschwandtner, A. (2014). The Organic Food Premium:A Canterbury Tale: Discussion Paper No 14/11. School of Economics, University of Kent.
Gschwandtner, A. (2014). The Behavioural Gap for Organic Food in the UK: A choice experiment. Department of Economics, University of Kent at Canterbury.
Gschwandtner, A. and Hauser, M. (2013). Profit Persistence and Stock Returns: Discussion Paper No. 13/20. School of Economics, University of Kent. Available at: https://www.kent.ac.uk/economics/research/papers/2013/1320.html.
Showing 18 of 22 total publications in KAR. [See all in KAR]
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Research

Research interests

Adelina's main research interests are in Applied Economics and Empirical Industrial Organization. This includes work on Profit Persistence in the Manufacturing and Food Sector and the relationship between Economic and Financial Markets. It also includes work on Sunk Costs and their impact on Firm Size and Industry Dynamics. More recently, Adelina has been analysing the consumer choice of organic food products and the relationship between nutrition and other lifestyle dimensions on happiness in the UK.

A complete list of Adelina's papers (including working papers) plus a detailed CV can be found at:

http://agschwandtner.pbworks.com

Adelina's RePEc page is http://econpapers.repec.org/RAS/pgs2.htm

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Consultation hours

  • Mon 10.00-11.00
  • Tue 15.00-16.00
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PhD supervision

Adelina is interested in supervising PhD research on the following topics:

  • Empirical Industrial Organisation
  • Consumer Valuation Studies

Current students

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Administrative roles

  • Stage 1 Director (Director of Studies and Chief Examiner)
  • Value Programme Co-ordinator
  • 6th Form Conference, Partnership
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School of Economics, Keynes College, University of Kent, Canterbury, Kent, CT2 7NP

Undergraduate enquiries: +44 (0) 1227 827497, Postgraduate enquiries: +44 (0) 1227 827440 or email us

Last Updated: 07/03/2017