Firm leadership stability in the Brazilian industry: an empirical note

Abstract

This note investigates the leadership turnover among the top 5 firms in each manufacturing sector along the 1986-98 period. Three different mobility indicators were calculated for intervals of 4 years. The evidence thus obtained indicated only a slight change of mobility when one moves towards the post-trade liberalization period. Two indexes indicate a slight decrease in turnover whereas a third one would favor a modest increase in turnover. The results indicate that despite a potentially more competitive environment in the recent years, market rivalry is still limited in different aspects.