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A comprehensive study on profits and sustainable competitive advantages

机译:利润与可持续竞争优势的综合研究

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Purpose - The purpose of this paper is to evaluate which strategic resources or industry structural conditions help firms build up a competitive advantage and sustain it over time. Design/methodology/approach - Our approach is based on one main variable. Firm-specific profits (proxy for competitive advantage) were estimated as the difference between a firm's profits and the average profitability of its industry. From it, two measures of firm performance were estimated, the firm-specific projected profitability (FSPP) and the persistence of firm-specific profits (FSPPe) which were used two split the sample in two type of firms, out performers and underperformers. Findings - The results suggested that FSPPe and FSPP are two different indicators of firms' performance and may not be influenced by the same factors. The results show that neither the FSPPe nor its sustainability is explained through strategic resources. Practical implications - While intangible investments might help firms build up a competitive advantage, these might not help to preserve it. Research limitations/implications - Further examination on unobserved strategic factors should help gain better understandings of what makes out performers earn/sustain higher level of profits over time. Originality/value - Investments on certain strategic resources above industry average can lock firms into persistent competitive disadvantages.
机译:目的-本文的目的是评估哪些战略资源或行业结构条件可以帮助企业建立竞争优势并随着时间的推移保持这种优势。设计/方法/方法-我们的方法基于一个主要变量。企业特定利润(代表竞争优势的代理)被估算为企业利润与其行业平均利润率之间的差额。从中,可以估算出公司绩效的两种度量,即公司特定的预期获利能力(FSPP)和公司特定的利润持续性(FSPPe),这两个度量将样本分为两种类型,即表现优异和绩效不佳的公司。调查结果-结果表明,FSPEe和FSPP是企业绩效的两个不同指标,可能不受相同因素的影响。结果表明,FSPPe及其可持续性都无法通过战略资源得到解释。实际含义-尽管无形投资可能会帮助企业建立竞争优势,但可能无济于事。研究的局限性/意义-进一步研究未观察到的战略因素应有助于更好地理解使表演者随着时间的推移获得/维持更高水平的利润。原创性/价值-对高于行业平均水平的某些战略资源的投资可能使公司陷入持续的竞争劣势。

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