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Interfirm differences in scale economies and the evolution of market shares

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  • Richard Makadok

Abstract

Evolutionary and resource‐based theories imply that firms in an industry with different resources and capabilities may differ in critical characteristics of their production functions, such as economies of scale. This paper measures these inter‐firm differences in economies of scale and examines how they affect the subsequent evolution of the market share distribution in the money market mutual fund industry. The findings indicate that fund families with larger marginal benefits to increasing their scale do subsequently gain market share at the expense of their rivals, but that this effect diminishes as the fund family ages, perhaps as a consequence of imitation. Copyright © 1999 John Wiley & Sons, Ltd.

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  • Richard Makadok, 1999. "Interfirm differences in scale economies and the evolution of market shares," Strategic Management Journal, Wiley Blackwell, vol. 20(10), pages 935-952, October.
    • Handle: RePEc:bla:stratm:v:20:y:1999:i:10:p:935-952
    DOI: 10.1002/(SICI)1097-0266(199910)20:103.0.CO;2-G
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    Cited by:

    1. Yu‐Luen Ma & B. Elango, 2008. "When Do International Operations Lead to Improved Performance? An Analysis of Property‐Liability Insurers," Risk Management and Insurance Review, American Risk and Insurance Association, vol. 11(1), pages 141-155, March.
    2. Isobe, Takehiko & Makino, Shige & Montgomery, David B., 2002. "Performance Impact of Technological Assets and Reconfiguration Capabilities: The Case of Small Manufacturing Firms in Japan," Research Papers 1768, Stanford University, Graduate School of Business.
    3. Hossain, Md Afnan & Akter, Shahriar & Yanamandram, Venkata, 2021. "Why doesn't our value creation payoff: Unpacking customer analytics-driven value creation capability to sustain competitive advantage," Journal of Business Research, Elsevier, vol. 131(C), pages 287-296.
    4. Akter, Shahriar & Gunasekaran, Angappa & Wamba, Samuel Fosso & Babu, Mujahid Mohiuddin & Hani, Umme, 2020. "Reshaping competitive advantages with analytics capabilities in service systems," Technological Forecasting and Social Change, Elsevier, vol. 159(C).
    5. Henry M. H. Chan & Vincent W. S. Cho, 2022. "An Empirical Study: The Impact of Collaborative Communications on New Product Creativity That Contributes to New Product Performance," Sustainability, MDPI, vol. 14(8), pages 1-17, April.
    6. Gianluigi Giustiziero & Tobias Kretschmer & Deepak Somaya & Brian Wu, 2023. "Hyperspecialization and hyperscaling: A resource‐based theory of the digital firm," Strategic Management Journal, Wiley Blackwell, vol. 44(6), pages 1391-1424, June.
    7. Clement Olalekan Olaniyi & Olayemi O. Simon-Oke & Olufemi Bodunde Obembe & Segun Thompson Bolarinwa, 2017. "Re-examining Firm Size-profitability Nexus: Empirical Evidence from Non-financial Listed Firms in Nigeria," Global Business Review, International Management Institute, vol. 18(3), pages 543-558, June.
    8. Jacob Brower & Peter A. Dacin, 2020. "An Institutional Theory Approach to the Evolution of the Corporate Social Performance – Corporate Financial Performance Relationship," Journal of Management Studies, Wiley Blackwell, vol. 57(4), pages 805-836, June.
    9. Ling-yee, Li & Ogunmokun, Gabriel O., 2001. "Effect of export financing resources and supply-chain skills on export competitive advantages: implications for superior export performance," Journal of World Business, Elsevier, vol. 36(3), pages 260-279, October.
    10. El-Kassar, Abdul-Nasser & Singh, Sanjay Kumar, 2019. "Green innovation and organizational performance: The influence of big data and the moderating role of management commitment and HR practices," Technological Forecasting and Social Change, Elsevier, vol. 144(C), pages 483-498.
    11. Morimura, Fumikazu & Sakagawa, Yuji, 2018. "Information technology use in retail chains: Impact on the standardisation of pricing and promotion strategies and performance," Journal of Retailing and Consumer Services, Elsevier, vol. 45(C), pages 81-91.
    12. Valérie Moatti & Charlotte R. Ren & Jaideep Anand & Pierre Dussauge, 2015. "Disentangling the performance effects of efficiency and bargaining power in horizontal growth strategies: An empirical investigation in the global retail industry," Strategic Management Journal, Wiley Blackwell, vol. 36(5), pages 745-757, May.
    13. Gunasekaran, Angappa & Papadopoulos, Thanos & Dubey, Rameshwar & Wamba, Samuel Fosso & Childe, Stephen J. & Hazen, Benjamin & Akter, Shahriar, 2017. "Big data and predictive analytics for supply chain and organizational performance," Journal of Business Research, Elsevier, vol. 70(C), pages 308-317.
    14. Amit Karna & Ansgar Richter & Eberhard Riesenkampff, 2016. "Revisiting the role of the environment in the capabilities–financial performance relationship: A meta-analysis," Strategic Management Journal, Wiley Blackwell, vol. 37(6), pages 1154-1173, June.
    15. Namchul Shin & Kenneth L. Kraemer & Jason Dedrick, 2014. "Value capture in global production networks: evidence from the Taiwanese electronics industry," Journal of the Asia Pacific Economy, Taylor & Francis Journals, vol. 19(1), pages 74-88, January.
    16. Hänninen, Mikko & Mitronen, Lasse & Kwan, Stephen K., 2019. "Multi-sided marketplaces and the transformation of retail: A service systems perspective," Journal of Retailing and Consumer Services, Elsevier, vol. 49(C), pages 380-388.
    17. Akter, Shahriar & Wamba, Samuel Fosso & Gunasekaran, Angappa & Dubey, Rameshwar & Childe, Stephen J., 2016. "How to improve firm performance using big data analytics capability and business strategy alignment?," International Journal of Production Economics, Elsevier, vol. 182(C), pages 113-131.
    18. den Hartigh, E. & Langerak, F. & Commandeur, H.R., 2002. "The Effects of Self-Reinforcing Mechanisms on Firm Performance," ERIM Report Series Research in Management ERS-2002-46-MKT, Erasmus Research Institute of Management (ERIM), ERIM is the joint research institute of the Rotterdam School of Management, Erasmus University and the Erasmus School of Economics (ESE) at Erasmus University Rotterdam.

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