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Is there a profit premium for market-oriented firms? A panel data investigation

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  • Eleonora Bartoloni
  • Maurizio Baussola

Abstract

This paper provides an empirical investigation of the impact of market orientation on firms' economic performance during the period 1998–2012 using a panel of Italian manufacturing firms. We introduce a dynamic concept of market orientation, in that we define a market-oriented firm as one that persistently undertakes product and marketing innovation, while at the same time introducing organizational changes and training efforts to manage and improve its knowledge assets over the long term. This notion of market orientation is therefore crucially related to the so-called dynamic capability approach. The related empirical model shows that being a market-oriented firm significantly affects profitability, in a framework in which this latter is simultaneously estimated with productivity, thus allowing for more precise estimates of the profit premium which is earned accordingly.

Suggested Citation

  • Eleonora Bartoloni & Maurizio Baussola, 2020. "Is there a profit premium for market-oriented firms? A panel data investigation," Economics of Innovation and New Technology, Taylor & Francis Journals, vol. 29(5), pages 501-521, July.
    • Handle: RePEc:taf:ecinnt:v:29:y:2020:i:5:p:501-521
    DOI: 10.1080/10438599.2019.1636451
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    Cited by:

    1. Avom, Désiré & Dadegnon, Aimé Kocou & Igue, Charlemagne Babatoundé, 2021. "Does digitalization promote net job creation? Empirical evidence from WAEMU countries," Telecommunications Policy, Elsevier, vol. 45(8).
    2. Bartoloni, Eleonora & Baussola, Maurizio & Bagnato, Luca, 2020. "Waiting for Godot? Success or failure of firms’ growth in a panel of Italian manufacturing firms," Structural Change and Economic Dynamics, Elsevier, vol. 55(C), pages 259-275.

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