The Determinants of Firm Performance: the Industry Factors or the Firm Factors? —An Empirical Research on the Listed Companies in China
In the strategic management theory,the structure-based view holds that the structural characteristic of the industry is the main determinant of the performance;while the resource-based view claims that the competitive advantage is driven by the resource and capacity of an enterprise.In this paper,we carry out an empirical research on 945 Chinese listed companies performance (ROA) in 18 industries by one-way ANOVA.,and the findings are different from previous researches: in China,the industry factors have notable effects on the payoff of the listed companies,but in some industries of high degree of marketization,such as information equipment industry,computer application industry,clothing industry and retail industry,the effects of firms resource and capacity are greater than that of the industry factors.
Industry effects Firm effects Firms resource and capacity Firm performance
GU Jibao GUAN Kai
School of Management,University of Science and Technology of China,P.R.China,230026
国际会议
2007 International Conference on Management Science and Engineering(2007管理科学与工程国际学术会议)
河南焦作
英文
1457-1463
2007-08-20（万方平台首次上网日期，不代表论文的发表时间）