A longitudinal analysis of the impact of firm resources and industry characteristics on firm-specific profitability

被引：22

作者：

Acquaah M. ^{[1
]}

Chi T. ^{[2
]}

机构：

[1] Bryan School of Business and Economics, University of North Carolina at Greensboro, Greensboro, NC 27410

[2] School of Business, University of Kansas, Lawrence

来源：

Journal of Management & Governance | 2007年 / 11卷 / 3期

关键词：

Economic rent; Evolutionary economics; Industrial organization; Panel data analysis; Resource-based view;

D O I：

10.1007/s10997-007-9031-8

中图分类号：

学科分类号：

摘要：

Using a dynamic heterogeneous panel data model, we examine the relationship between firm-specific resources (corporate management capabilities, employee value-added and technological competence) and firm-specific profitability and the potential moderating effects of industry characteristics on this relationship. We find that firm-specific resources enhance both accounting-based measures (return on assets and return on sales) and market-based measure (Tobin's q) of firm-specific performance. Moreover, industry characteristics moderate the relationship between firm-specific resources and firm-specific profitability. Managerial implications are discussed. © 2007 Springer Science+Business Media, LLC.

引用

页码：179 / 213

页数：34

共 102 条

[21] Castanias R.P., Helfat C.E., Managerial resources and rent, Journal of Management, 17, pp. 155-171, (1991)
[22] Chen M.-J., Farh J.-L., MacMillan I., An exploration of expertness of outside informants, Academy of Management Journal, 36, pp. 1614-1632, (1993)
[23] Chi T., Trading in strategic resources: Necessary conditions, transactions cost problems, and choice of exchange structure, Strategic Management Journal, 15, pp. 271-290, (1994)
[24] Chung K.H., Pruitt S.W., A simple approximation of Tobin's q, Financial Management, 23, pp. 70-74, (1994)
[25] Cockburn I., Griliches Z., Industry effects and appropriability measures in the stock market's valuation of R&D and patents, American Economic Review, 78, pp. 419-423, (1988)
[26] Collis D.J., Montgomery C.A., Competing on resources: Strategy in the 1990's, Harvard Business Review, 73, pp. 118-128, (1995)
[27] Conner K.R., A historical comparison of resource-based theory and five schools of thought within industrial organization economics. Do we have a theory of the firm?, Journal of Management, 17, pp. 121-154, (1991)
[28] Connolly R.A., Hirsch B.T., Hirschey M., Union rent seeking, intangible capital, and market value of the firm, Review of Economics & Statistics, 68, pp. 567-577, (1986)
[29] Davies R., Duhaime I.M., Diversification, vertical integration and industry analysis: New perspectives and measurements, Strategic Management Journal, 13, pp. 511-524, (1992)
[30] Davis S.W., Geroski P.A., Changes in concentration, turbulence, and the dynamics of market shares, Review of Economics and Statistics, 79, pp. 383-391, (1997)

← 1 2 3 4 5 6 7 8 9 10 →