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A Longitudinal Analysis of the Impact of Firm Resources and Industry Characteristics on Firm-Specific Profitability
Acquaah, Moses Chi, Tailan
Acquaah, Moses
Chi, Tailan
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Abstract
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.
Description
This is the author's final draft. The publisher's official version is available from: http://dx.doi.org/10.1007/s10997-007-9031-8
Date
2007
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Springer Verlag
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Keywords
Resource-based view, Industrial Organization, Evolutionary economics, Economic rent, Panel data analysis
Citation
Chi, Tailan. (2007) A Longitudinal Analysis of the Impact of Firm Resources and Industry Characteristics on Firm-Specific Profitability. Journal of Management and Governance, 11, 179-213. http://dx.doi.org/10.1007/s10997-007-9031-8