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| Author: | Balasubramanian, N. Lieberman, M.B. |
| Title: | Industry learning environments and the heterogeneity of firm performance |
| Journal: | Strategic Management Journal
2010 : APR, VOL. 31:4, p. 390-412 |
| Index terms: | company performance productivity profitability organizational learning industries manufacturing USA |
| Freeterms: | firm heterogeneity |
| Language: | eng |
| Abstract: | Characterizing inter-industry heterogeneity in rates of learning-by-doing, this paper explores how industry learning rates are linked with firm performance. Based on plant-level data from the U.S. manufacturing sector, the industry learning rate is measured as the coefficient on cumulative output in a production function. It is found that learning rates vary considerably among industries, being higher in industries with greater R&D, advertising, and capital intensity. More importantly, higher rates of learning are found to be associated with wider dispersion of Tobin's 'q' and profitability among firms in the industry. Based on these findings, learning intensity is suggested to represent an important characteristic of the industry environment affecting the range of firm performance. |
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