The Miles and Snow typology of product‐market strategy is a potential source of rich insights for developing marketing strategy. However, the drivers of performance for the Prospector, Analyser and Defender strategies have not been thoroughly studied. Using multiple measures of the...

Much public attention and considerable controversy surround pharmaceutical marketing practices and their impact on physicians. However, views on the matter have largely been shaped by anecdotal evidence or results from analyses with insufficient controls. Making use of a dynamic fixed-effects...

We explore the extent to which R&D and advertising expenditures generate a comparative advantage that allows firms to earn supranormal profits. After controlling for unobserved firm-specific factors and the feedback between discretionary expenditures and profitability, our results suggest...

This paper estimates statistical cost. and revenue curves for a cross-section of banks in the years 1962-75. The primary data cover reported accounting or book rates of return. Approximations are also made to estimate economic or total returns. These approximations take into account changes in...

Understanding the behavior of markets requires understanding not just the level of return but also its dynamics. The speed at which abnormal returns dissipate is one useful indicator of the competitive process. We model for US and Japanese firms the process of competition as reflected in the...

Based on data from firms in the personal computer industry, we study the effect of new product introductions on three key drivers of firm value: profit rate, profit-rate persistence, and firm size as reflected in asset growth. Consistent with our theoretical development, we find that new product...