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The role of industry factors and intangible assets in company performance in Colombia

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  • Andonova, Veneta
  • Ruíz-Pava, Guillermo

Abstract

We analyze the role of industry-related factors in the performance of Colombian firms between 1995 and 2012. Using hierarchical linear models for variance decomposition, we find that the role of industry-related factors varies considerably when different measures of firm performance are analyzed and that it is smaller than the share of total variance explained by firm-specific factors. The estimations also allow exploring the role of intangible assets in profitability, revealing that intangible assets play a prominent role among the firm-specific drivers of performance. The evidence confirms the resilience of intangible assets as drivers of competitive advantage in an emerging environment.

Suggested Citation

  • Andonova, Veneta & Ruíz-Pava, Guillermo, 2016. "The role of industry factors and intangible assets in company performance in Colombia," Journal of Business Research, Elsevier, vol. 69(10), pages 4377-4384.
    • Handle: RePEc:eee:jbrese:v:69:y:2016:i:10:p:4377-4384
    DOI: 10.1016/j.jbusres.2016.03.060
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