Publication Type
Journal Article
Version
acceptedVersion
Publication Date
11-2006
Abstract
One of the more interesting issues in the strategic management field is the question of whether intra-industry performance differences exist, particularly across strategic groups. Most of the existing studies have used accounting measures of performance despite the documented weaknesses of such measures. This paper examines whether financial market-based measures of performance are superior to accounting-based measures in identifying performance differences across strategic groups. Hypotheses are tested on data from an existing sample of firms in the US pharmaceutical industry. The empirical results indicate that performance differences are more likely to exist across strategic groups when financial market performance measures are used. Suggestions for further refinements are made and limitations of the study are discussed.
Keywords
Strategic planning, securities markets, business planning
Discipline
Strategic Management Policy
Research Areas
Strategy and Organisation
Publication
Strategic Change
Volume
15
Issue
7-8
First Page
373
Last Page
383
ISSN
1086-1718
Identifier
10.1002/jsc.769
Publisher
Wiley
Citation
Pandian, J. Rajendran; THOMAS, Howard; Furrer, Olivier; and Bogner, William C..
Performance differences across strategic groups: An examination of financial market-based performance measures. (2006). Strategic Change. 15, (7-8), 373-383.
Available at: https://ink.library.smu.edu.sg/lkcsb_research/3972
Creative Commons License
This work is licensed under a Creative Commons Attribution-NonCommercial-No Derivative Works 4.0 International License.
Additional URL
https://doi.org/10.1002/jsc.769