Market leadership volatility in Japanese industries

The paper computes the extent of market leadership volatility by industry, and then examines the determinants of volatility in Japanese manufacturing industries. Volatility varies from industry to industry, and changes over t ime in many industries. Concentration coexists with less volatility, sugges ting that the former has a policy significance. Concentration change has a significant and positive effect. Exports have a volatility-promoting effect , but imports have no effect. industry size tends to decrease volatility. T he effect of industry growth is not found. Advertising, R&D and distributio n channel have no definite effect respectively as well.