Strategy and Industry Effects on Profitability: Evidence from Greece: V E. Spanos,  

Oleh:

Liolukas, Spyros ; Spands, Yiannis E. ; Zaralis, George

Jenis: Article from Journal - ilmiah internasional
Dalam koleksi: Strategic Management Journal vol. 25 no. 2 (Feb. 2004), page 139-166.
Topik: strategy; determinants of profitability; competitive advantage; hybrid versus pure strategies; industry structure

Ketersediaan

Perpustakaan Pusat (Semanggi) Nomor Panggil: SS30.14 Non-tandon: 1 (dapat dipinjam: 0) Tandon: tidak ada

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Isi artikel

The present study examines the impact of firm and industry - specific factors on profitability, using census data on greek manufacturing. At the firm level, particular attention is given to strategy effects. Based on a modification of porter's typology, these effects are captured through different forms of both "pure" and "hybrid" strategies. Industry effects are represented using industry concentration, entry barriers, and growth. Hpotheses are developed taking into account both previous research and the particular idiosyncrasies of the national context. The results obtained provide important insights on specific determinants of firm profitability. With respect to strategy, results confirm the hypothesis hybrid strategoes are clearly preferable compared to pure ones. In addition, it was found that the more generic strategy dimensions are included in the strategy mix, the more profitable the strategy is provided that one of the key ingredients is low cost. Industry - level effects, although weaker, show strong impact of industry entry barriers. Moreover, the findings suggest that while both sets of factors significantly contribute to firm profitability, firm - specific factors explain more than twice as much profit variability as industry factors.

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