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首页> 外文期刊>Strategic Management Journal >Using the Shapley Value approach to variance decomposition in strategy research: Diversification, internationalization, and corporate group effects on affiliate profitability
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Using the Shapley Value approach to variance decomposition in strategy research: Diversification, internationalization, and corporate group effects on affiliate profitability

机译：利用福普利价值探索策略研究方案分解：多样化，国际化和企业集团对联盟盈利能力的影响

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Research Summary Variance decomposition methods allow strategy scholars to identify key sources of heterogeneity in firm performance. However, most extant approaches produce estimates that depend on the order in which sources are considered, the ways they are nested, and which sources are treated as fixed or random effects. In this paper, we propose the use of an axiomatically justified, unique, and effective solution to this limitation: the "Shapley Value" approach. We show its effectiveness compared to extant methods using both simulated and real data, and use it to explore how the importance of business group effects varies with group diversification and internationalization in a large, representative sample of European firms. We thus demonstrate the method's superior accuracy and its usefulness in asking and answering new questions. Managerial Summary A key contribution of strategic management research to managerial practice is identifying drivers of firm performance that operate at firm, corporation, industry, and national levels. A branch of this research measures the relative importance of factors at these different levels in producing variation in firm performance, thus helping top managers focus efforts on aspects of their businesses most likely to yield performance differences. However, estimates produced by extant methods are sensitive to method used, and to modeling choices made. This paper proposes the use of the "Shapley Value" approach, which is free from such sensitivity, shows its effectiveness compared to extant methods, and uses it to explore how the importance of factors at the level of the business group varies with group diversification and internationalization.
机译：研究摘要差异分解方法允许战略学者识别企业性能中异质性的关键来源。然而，大多数现存方法产生估计，这取决于所考虑来源的顺序，它们嵌套的方式，以及哪些来源被视为固定或随机效应。在本文中，我们提出了使用公正合理的，独特的，有效的解决方案来实现这一限制：“福利价值”方法。与使用模拟和实际数据的现存方法相比，我们展示了其有效性，并利用它来探讨业务组效应的重要性因欧洲企业的大型代表性样本中的集团多元化和国际化而异。因此，我们展示了该方法的卓越准确性及其在询问和回答新问题方面的实用性。管理摘要战略管理研究对管理实践的关键贡献是确定在公司，公司，工业和国家层面运营的公司业绩的驱动因素。该研究的一个分支对这些不同层面的因素的分支来说，在生产企业绩效的变化方面对这些不同层面的相对重要性，因此帮助顶级管理人员重点努力，他们的企业最有可能产生性能差异。然而，扩展方法产生的估计对所使用的方法敏感，以及制定的选择。本文提出了使用“福利价值”方法，其免于这种敏感性，显示其与现存方法相比的有效性，并利用它来探讨商业集团水平因素的重要性因集团多元化而异国际化。

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