Table 7 Open in new tab Transition...

Table 7

Transition analysis, sub periods

Window	π_i	S_i	M_p	M₂
1954–1958	0.118	5.167	0.201	0.151
1957–1961	0.184	5.200	0.186	0.127
1960–1964	0.121	7.250	0.154	0.120
1963–1967	0.154	4.800	0.185	0.105
1966–1970	0.094	3.429	0.222	0.095
1969–1973	0.052	2.500	0.287	0.131
1972–1976	0.058	2.667	0.305	0.195
1975–1979	0.059	2.600	0.291	0.159
1978–1982	0.421	13.000	0.217	0.131
1981–1985	0.187	6.800	0.222	0.169
1984–1988	0.113	3.250	0.278	0.197
1987–1991	0.095	3.800	0.189	0.067
1990–1994	0.040	3.000	0.208	0.059
1993–1997	0.000	n.a.	0.535	0.069
1996–2000	0.009	n.a.	0.585	0.153
1999–2003	0.067	0.119	0.304	0.119

Window	π_i	S_i	M_p	M₂
1954–1958	0.118	5.167	0.201	0.151
1957–1961	0.184	5.200	0.186	0.127
1960–1964	0.121	7.250	0.154	0.120
1963–1967	0.154	4.800	0.185	0.105
1966–1970	0.094	3.429	0.222	0.095
1969–1973	0.052	2.500	0.287	0.131
1972–1976	0.058	2.667	0.305	0.195
1975–1979	0.059	2.600	0.291	0.159
1978–1982	0.421	13.000	0.217	0.131
1981–1985	0.187	6.800	0.222	0.169
1984–1988	0.113	3.250	0.278	0.197
1987–1991	0.095	3.800	0.189	0.067
1990–1994	0.040	3.000	0.208	0.059
1993–1997	0.000	n.a.	0.535	0.069
1996–2000	0.009	n.a.	0.585	0.153
1999–2003	0.067	0.119	0.304	0.119

Notes: Results of estimations of mobility using the non-parametric strata model per 5-year rolling window as discussed in Section 3.2. We document the estimations for every third window. The table provides the estimated probabilities to migrate to the superior stratum (π_i), sojourn times of the superior stratum (S_i), the overall mobility for all firms (M_p), and the convergence speed for all firms (M₂). “n.a.” means that the parameter cannot be estimated.

Sources: Fortune Global 500 and authors’ analysis.

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