The role of industry factors and intangible assets in company performance in Colombia

Veneta Andonova and Guillermo Ruíz-Pava

Journal of Business Research, 2016, vol. 69, issue 10, 4377-4384

Abstract: We analyze the role of industry-related factors in the performance of Colombian firms between 1995 and 2012. Using hierarchical linear models for variance decomposition, we find that the role of industry-related factors varies considerably when different measures of firm performance are analyzed and that it is smaller than the share of total variance explained by firm-specific factors. The estimations also allow exploring the role of intangible assets in profitability, revealing that intangible assets play a prominent role among the firm-specific drivers of performance. The evidence confirms the resilience of intangible assets as drivers of competitive advantage in an emerging environment.

Keywords: Industry effect; Firm effect; Intangible assets; Competitiveness (search for similar items in EconPapers)
Date: 2016
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Citations: View citations in EconPapers (11)

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Persistent link: https://EconPapers.repec.org/RePEc:eee:jbrese:v:69:y:2016:i:10:p:4377-4384

DOI: 10.1016/j.jbusres.2016.03.060

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