Is performance driven by industry- or firm-specific factors? A response to Hawawini, Subramanian, and Verdin
Strategic Management Journal, Volume 26, Issue 11, 2005, Pages 1075-1081.
Hawawini, Subramanian, and Verdin (2003) examined the relative impact of industry- vs. firm- level factors shaping firm performance. They demonstrated that variance in firm performance attributable to industry-level factors increases, while variance attributable t to firm-level factors decreases when 'exceptionally' higher- and lower-perf...More
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