Corporate foresight and its impact on firm performance: A longitudinal analysis

René Rohrbeck and Menes Etingue Kum

Technological Forecasting and Social Change, 2018, vol. 129, issue C, 105-116

Abstract: Corporate foresight is applied with the expectation that it will help firms to break away from path dependency, help decision makers to define superior courses of action, and ultimately enable superior firm performance. To empirically test this assumption, we developed a model that judges a firm's future preparedness (FP) by assessing the need for corporate foresight (CF) and comparing it to the maturity of its CF practices. We apply a longitudinal research design in which we measure future preparedness in 2008 and its impact on firm performance in 2015. The results indicated future preparedness to be a powerful predictor for becoming an outperformer in the industry, for attaining superior profitability, and for gaining superior market capitalization growth. In the article, we also calculate the average bonus/discount that can be expected by sufficiently/insufficiently future-prepared firms.

Keywords: Corporate foresight; Future preparedness; Firm performance; Behavioural theory of the firm (search for similar items in EconPapers)
Date: 2018
References: View references in EconPapers View complete reference list from CitEc
Citations: View citations in EconPapers (44)

Downloads: (external link)
http://www.sciencedirect.com/science/article/pii/S0040162517302287
Full text for ScienceDirect subscribers only

Related works:
This item may be available elsewhere in EconPapers: Search for items with the same title.

Export reference: BibTeX RIS (EndNote, ProCite, RefMan) HTML/Text

Persistent link: https://EconPapers.repec.org/RePEc:eee:tefoso:v:129:y:2018:i:c:p:105-116

DOI: 10.1016/j.techfore.2017.12.013

Access Statistics for this article

Technological Forecasting and Social Change is currently edited by Fred Phillips

More articles in Technological Forecasting and Social Change from Elsevier
Bibliographic data for series maintained by Catherine Liu ().