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Empirical approach to the sequential relationships between firm strategy, export activity, and performance in U.S. manufacturing firms

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  • Lee, Jooh
  • Habte-Giorgis, Berhe
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    Abstract

    This paper empirically examines the sequential relationships between the firm's strategic factors, export actvity, and performance in US manufacturing firms. The main question addressed in this paper relates to how the firm's key strategic factors such as diversification in product and market, firm size, R&D intensity, and capital intensity influence export activity, and further how the export activity is finally linked to the firm's economic performance with respect to diverse dimensions of performance. The results in a sequential model show that (1) product diversification, R&D intensity, and firm size significantly affect the firm's export activity, (2) export intensity, stemming from the company's key strategic components of business activity, was positively and uniformly related to all aspects of the firm's economic performance, and (3) export activity moderates the relationships between organization's strategic factors and firm performance. Although market diversification does not directly affect exporting, it does, however, sequentially influence firm performance with respect to market-based performance. This study contributes to a new strategic implication of export activity and performance linkage in business and economic research.

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    Bibliographic Info

    Article provided by Elsevier in its journal International Business Review.

    Volume (Year): 13 (2004)
    Issue (Month): 1 (February)
    Pages: 101-129

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    Handle: RePEc:eee:iburev:v:13:y:2004:i:1:p:101-129

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    Web page: http://www.elsevier.com/wps/find/journaldescription.cws_home/133/description#description

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    Related research

    Keywords: Diversification R&D intensity Export activity and economic performance;

    References

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    1. Kee H. Chung & Stephen W. Pruitt, 1994. "A Simple Approximation of Tobin's q," Financial Management, Financial Management Association, vol. 23(3), Fall.
    2. Culpan, Refik, 1989. "Export behavior of firms: Relevance of firm size," Journal of Business Research, Elsevier, vol. 18(3), pages 207-218, May.
    3. Czinkota, Michael R. & Ursic, Michael, 1991. "Classification of exporting firms according to sales and growth into a share matrix," Journal of Business Research, Elsevier, vol. 22(3), pages 243-253, May.
    4. Deardorff, Alan V., 1984. "Testing trade theories and predicting trade flows," Handbook of International Economics, in: R. W. Jones & P. B. Kenen (ed.), Handbook of International Economics, edition 1, volume 1, chapter 10, pages 467-517 Elsevier.
    5. Leonidas C Leonidou & Constatine S Katsikeas, 1996. "The Export Development Process: An Integrative Review of Empirical Models," Journal of International Business Studies, Palgrave Macmillan, vol. 27(3), pages 517-551, September.
    6. Abdulnasser Hatemi-J & Manuchehr Irandoust, 2001. "Productivity Performance and Export Performance: A Time-Series Perspective," Eastern Economic Journal, Eastern Economic Association, vol. 27(2), pages 149-164, Spring.
    7. Jacquemin, Alexis P & Berry, Charles H, 1979. "Entropy Measure of Diversification and Corporate Growth," Journal of Industrial Economics, Wiley Blackwell, vol. 27(4), pages 359-69, June.
    8. Andrea Bonaccorsi, 1992. "On the Relationship Between Firm Size and Export Intensity," Journal of International Business Studies, Palgrave Macmillan, vol. 23(4), pages 605-635, December.
    9. Robert G Cooper & Elko J Kleinschmidt, 1985. "The Impact of Export Strategy on Export Sales Performance," Journal of International Business Studies, Palgrave Macmillan, vol. 16(1), pages 37-55, March.
    10. Barbara El-Osta & Craig R. MacPhee & David I. Rosenbaum, 1996. "International Trade, Foreign Direct Investment, and Domestic Market Performance," Eastern Economic Journal, Eastern Economic Association, vol. 22(1), pages 63-74, Winter.
    11. Caves, Richard E, 1981. "Intra-Industry Trade and Market Structure in the Industrial Countries," Oxford Economic Papers, Oxford University Press, vol. 33(2), pages 203-23, July.
    12. Samiee, Saeed & Walters, Peter G. P., 1990. "Influence of firm size on export planning and performance," Journal of Business Research, Elsevier, vol. 20(3), pages 235-248, May.
    13. Caves, Richard E., 1985. "International trade and industrial organization: Problems, solved and unsolved," European Economic Review, Elsevier, vol. 28(3), pages 377-395, August.
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    Cited by:
    1. Garcia-Fuentes, Pablo A. & Ferreira, Gustavo F.C. & Kennedy, P. Lynn, 2012. "Economic Performance of U.S. Multinational Agribusinesses: Foreign Direct Investment and Firm Strategy," 2012 Annual Meeting, February 4-7, 2012, Birmingham, Alabama 119763, Southern Agricultural Economics Association.
    2. Singh, Deeksha A., 2009. "Export performance of emerging market firms," International Business Review, Elsevier, vol. 18(4), pages 321-330, August.
    3. Love, James H. & Mansury, Mica Ariana, 2009. "Exporting and productivity in business services: Evidence from the United States," International Business Review, Elsevier, vol. 18(6), pages 630-642, December.
    4. Rugman, Alan M. & Oh, Chang Hoon, 2010. "Does the regional nature of multinationals affect the multinationality and performance relationship?," International Business Review, Elsevier, vol. 19(5), pages 479-488, October.
    5. Rosenbusch, Nina & Brinckmann, Jan & Bausch, Andreas, 2011. "Is innovation always beneficial? A meta-analysis of the relationship between innovation and performance in SMEs," Journal of Business Venturing, Elsevier, vol. 26(4), pages 441-457, July.

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