Firm and industry effects on samll, medium-sized and large firms performance

  1. Esteban Fernández 1
  2. Susana Iglesias-Antelo 2
  3. Vicente López-López 3
  4. Marcos Rodríguez-Rey 4
  5. Carlos M. Fernández-Jardon 5
  1. 1 Universidad de Oviedo

    Universidad de Oviedo

    Oviedo, España


  2. 2 Universidade da Coruña

    Universidade da Coruña

    La Coruña, España


  3. 3 Universidade de Santiago de Compostela

    Universidade de Santiago de Compostela

    Santiago de Compostela, España


  4. 4 Instituto Galego de Estadística
  5. 5 Universidade de Vigo

    Universidade de Vigo

    Vigo, España


Business Research Quarterly

ISSN: 2340-9444 2340-9436

Ano de publicación: 2019

Volume: 22

Número: 1

Páxinas: 25-35

Tipo: Artigo

DOI: 10.1016/J.BRQ.2018.06.005 DIALNET GOOGLE SCHOLAR lock_openAcceso aberto editor

Outras publicacións en: Business Research Quarterly


This paper examines whether or not the relative importance of the firm and industry effects in explaining performance variations is the same regardless of the firm size. In relation to size, we think that there has been particular neglect of studying medium-sized firms separately from SMEs in general. That is why we study separately large, medium-sized and small firms. We also contribute to knowledge on the firm-industry debate testing empirically both effects distinguishing the firms by size according to a standard classification in the EU. Our results show that the performances of large and small firms are mainly explained by the firm effect, albeit for different reasons, while the performance of medium-sized firms is explained primarily by the industry effect.

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