Does Market Concentration Promote or Reduce New Product Introductions? Evidence from US Food Industry

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NPI Category

-----------------------------------------------------

| Description

-----------------

1

-----------------------------------------------------

|   Processed Meat, Fish, Egg

2

|    Dairy Products

3

|   Desserts and Ice cream

4

|   Fruits and Vegetable Products, Condiments

5

|   Breakfast Cereals, Pet food

6

|   Bakery Food

7

|   Sugar, Confectionary, Snacks

8

| Beverages

9
_ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _

|   Meals, Side dishes

_ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _

NPI

| Number of New Product Introductions

HI

| Herfindahl Index

CI4

| Four Firm Herfindahl Index

N

| Total number of firms

SALES

| Annual Sales ($ mn)

SGR

| Annual Sales Growth Rate

RNDI

| Annual R&D expenditure to sales ratio

CAPEXI

| Annual capital expenditure to sales ratio

CAPASI

| Net Plant, Property and Equipment to sales ratio

MERGERS

| Number of Mergers in the processed food industry

USMERGERS

| Number of Mergers in the USA

FEXP

| Food expenditure (% of disposable income)

FAFH

| Food away from home (% of food expenditure)

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Variable

+-

|

_ J___

+-

Obs

Mean

Std.Dev.

Min

-----------

Max

-------------

-----------

NPI

|

198

1177.641

908.8555

37

4596

HI

|

198

0.248909

0.1199457

0.0718771

0.5194755

CI4

|

198

0.238468

0.1276649

0.027378

0.5177338

N

|

_ J___

+-

198

18.89899

11.70188

5

65

-------------

-----------

SALES

|

198

38281.54

32820.93

3265.568

195150.1

SGR

|

198

5.627515

18.91088

-47.74893

150.643

RNDI

|

198

0.006747

0.0043447

0

0.017762

CAPEXI

|

198

0.0470237

0.0159381

0.0166153

0.1365205

CAPASI

|

198

0.2684069

0.0710748

0.0839517

0.3821605

USMERGERS

|

198

4882.909

2877.563

1877

9783

FEXP

|

198

10.69318

0.806914

9.45

12.46

FAFH

|

198

38.73591

2.367526

34.97

43.27