Universität zu Köln

Steigenberger, Norbert ORCID: 0000-0002-8304-5321 (2014). Only a matter of chance? How firm performance measurement impacts study results. Eur. Manag. J., 32 (1). S. 46 - 66. OXFORD: ELSEVIER SCI LTD. ISSN 1873-5681

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Abstract

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.

Item Type:	Journal Article
Creators:	Creators Email ORCID ORCID Put Code Steigenberger, Norbert UNSPECIFIED orcid.org/0000-0002-8304-5321 UNSPECIFIED
URN:	urn:nbn:de:hbz:38-447061
DOI:	10.1016/j.emj.2013.09.003
Journal or Publication Title:	Eur. Manag. J.
Volume:	32
Number:	1
Page Range:	S. 46 - 66
Date:	2014
Publisher:	ELSEVIER SCI LTD
Place of Publication:	OXFORD
ISSN:	1873-5681
Language:	English
Faculty:	Unspecified
Divisions:	Unspecified
Subjects:	no entry
Uncontrolled Keywords:	Keywords Language HUMAN-RESOURCE MANAGEMENT; COMPETITIVE ADVANTAGE; STRATEGIC MANAGEMENT; ORGANIZATIONAL PERFORMANCE; VALUE CREATION; FINANCIAL PERFORMANCE; RENT APPROPRIATION; VALUE CAPTURE; DIMENSIONALITY; PRODUCTIVITY Multiple languages Business; Management Multiple languages
URI:	http://kups.ub.uni-koeln.de/id/eprint/44706