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Only a matter of chance? How firm performance measurement impacts study results
University of Cologne, Germany.ORCID iD: 0000-0002-8304-5321
2014 (English)In: European Management Journal, ISSN 0263-2373, E-ISSN 1873-5681, Vol. 32, no 1, 46-65 p.Article in journal (Refereed) Published
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Abstract [en]

Although strategic management research is well aware of the importance of construct measurement, surprisingly little rigor is applied regarding its core concept, firm performance. Using the example of the resource-based view (RBV), this paper demonstrates how divergence between theory-building and construct measurement regarding firm performance can produce misleading conclusions. The RBV seeks to explain value creation in the marketplace, yet empirical studies often measure various aspects of firm financial performance. Building on appropriation theory, I show that it is not possible to infer to changes in firm value creation from observed changes in firm financial performance measures and vice versa due to an omitted variable bias: the neglect of the relative bargaining power of stakeholders. This paper derives conclusions for research practice and suggests theoretically meaningful ways of bridging the gap between value creation and firm financial performance in the RBV framework. (C) 2013 Elsevier Ltd. All rights reserved.

Place, publisher, year, edition, pages
2014. Vol. 32, no 1, 46-65 p.
Keyword [en]
Rent appropriation, Resource-based view, Performance measurement, Methods of strategic management, Meta-analysis
National Category
Business Administration
Identifiers
URN: urn:nbn:se:hj:diva-28905DOI: 10.1016/j.emj.2013.09.003ISI: 000331159900005Scopus ID: 2-s2.0-84892505543OAI: oai:DiVA.org:hj-28905DiVA: diva2:891958
Available from: 2016-01-08 Created: 2016-01-08 Last updated: 2016-08-10Bibliographically approved

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