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Article
Publication date: 22 September 2020

Vicente López-López, Susana Iglesias Antelo and Carlos M.P. Sousa

This paper aims to examine how sample design affects the relative importance of firm and industry factors in explaining performance variations.

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Abstract

Purpose

This paper aims to examine how sample design affects the relative importance of firm and industry factors in explaining performance variations.

Design/methodology/approach

Using a sample of 14,204 Spanish firms over a 10-year time frame, this study uses partial sensitivity analysis to examine the biases in results as a consequence of three methodological relevant concerns: outliers, industry classification and period.

Findings

Results indicate that the industry effect, supported by the industrial organization theory, has been underestimated in the empirical tests.

Originality/value

This study examines the biases in results as a consequence of three methodological relevant concerns (outliers, sector classification and period), which have not been sufficiently studied to date. Moreover, the study provides some new evidence favourable to the Industrial Organization (IO) perspective, which could have been biased and underestimated by the literature, as most of the analyses do not consider the methodological issues studied in this paper.

Details

European Business Review, vol. 33 no. 3
Type: Research Article
ISSN: 0955-534X

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