Purpose

This study examines the strategy–performance relationship within publicly traded German firms. Strategic management literature provides several strategic frameworks that offer guidance on promising strategies. However, given major changes, such as globalization, managers wonder whether strategic frameworks are still applicable.

Design/methodology/approach

The authors employ principal component analysis (PCA) to measure competitive strategy and analyze a sample of 6,037 firm-years among 651 firms between 2000 and 2019.

Findings

While the authors find evidence for the existence of efficiency-based strategies, differentiation-based strategies and mixed strategies, only differentiation-based strategies are positively related to performance.

Originality/value

The study’s results contribute to the discourse on the strategy–performance relationship, as they provide insights into promising strategies that are of interest to researchers and practitioners. Further, the authors introduce a new measure of competitive strategy based on PCA.

中文翻译：

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分析德国的战略与绩效关系——我们还能使用共同的战略框架吗？

目的

本研究考察了德国上市公司的战略与绩效关系。战略管理文献提供了几个战略框架，为有前景的战略提供指导。然而，鉴于全球化等重大变化，管理者想知道战略框架是否仍然适用。

设计/方法论/途径

作者采用主成分分析 (PCA) 来衡量竞争策略，并分析了 2000 年至 2019 年间 651 家公司的 6,037 个公司年的样本。

发现

虽然作者找到了基于效率的策略、基于差异化的策略和混合策略存在的证据，但只有基于差异化的策略与绩效正相关。

原创性/价值

该研究的结果有助于关于战略与绩效关系的讨论，因为它们提供了对研究人员和从业者感兴趣的有前途的战略的见解。此外，作者还介绍了一种基于 PCA 的新的竞争策略衡量方法。