HOW MUCH DOES INDUSTRY MATTER? AN ALTERNATIVE EMPIRICAL TEST

Thomas C. Powell

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Firm Innovation and Growth Corporate Finance and Governance Management and Organizational Practices

Abstract

Empirical studies using Federal Trade Commission Line of Business data have reported that industry membership explains between 17 percent and 20 percent of financial performance variance among firms. This study attempts to replicate these findings using an alternative sample and a methodology based on executives' perceptions. The results support those reported in previous studies, with industry factors explaining about 20 percent of overall performance variance. Moreover, the analysis produces empirically derived industry factors, and examines their relative power in explaining industry performance variance.

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References

1951Coefficient Alpha and the Internal Structure of Tests 1980Competitive Strategy: Techniques for Analyzing Industries and Competitors 1993The cornerstones of competitive advantage: A resource‐based view 1982Mail and Telephone Surveys: The Total Design Method.1967Organization and environment 1992The resource‐based view within the conversation of strategic management 1991How much does industry matter?1957Barriers to New Competition

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