Industry, corporate, and segment effects and business performance: A non-parametric approach

• 成果类型: Article
• 署名作者: Ruefli, TW; Wiggins, RR
• 署名单位: University of Texas System; University of Texas Austin; University of Texas System; University of Texas Austin; University of Memphis
• 刊物名称: STRATEGIC MANAGEMENT JOURNAL
• ISSN/ISSBN: 0143-2095
• DOI: 10.1002/smj.350
• 发表日期: 2003
• 页码: 861-879
• 关键词: industry and corporate effects; BUSINESS PERFORMANCE; non-parametric effect

摘要

The literature investigating the degree to which firm performance is associated with industry, or corporate factors has recently been subject to criticism on the grounds of both methodological shortcomings and incomplete interpretation of results. Our research goes beyond these critiques to raise more basic issues concerning the assumptions underlying variance decomposition, the methodology dominating the antecedent literature. Performance data and categorizations from a sample consistent with those employed in the recent literature are analyzed via a new non-parametric methodology. Results here indicate that corporate factors were over an order of magnitude better predictors of business unit profit position than were industry factors-which were found not to have been significant predictors. Further, underlying performance relationships were seen to have shifted over time. A key implication of these results for researchers is that they provide additional evidence that managers can have a strategic influence on business performance. Copyright (C) 2003 John Wiley Sons, Ltd.