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| Author: | Spanos, Y.E. Zaralis, G. Lioukas, S. |
| Title: | Strategy and industry effects on profitability: evidence from Greece |
| Journal: | Strategic Management Journal
2004 : FEB, VOL. 25:2, p. 139-165 |
| Index terms: | Strategy Industries Manufacturing Profitability Competitive advantage Models Greece |
| Language: | eng |
| Abstract: | This study examines the impact of firm and industry-specific factors on profitability, using census data on Greek manufacturing. At the firm level, particular attention is given to strategy effects. Based on a modification of Porter's typology, these effects are captured through different forms of both pure and hybrid strategies. Industry effects are represented using industry concentration, entry barriers, and growth. Hypotheses are developed taking into account both previous research etc. The results provide important insights on specific determinants of firm profitability. With respect to strategy, results confirm the hypothesis that hybrid strategies are clearly preferable compared to pure ones. In addition, it was found among others that the more generic strategy dimensions are included in the strategy mix, the more profitable the strategy is, provided that one of the key ingredients is low cost. Industry-level effects, although weaker, show strong impact of industry entry barriers. |
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