Does corporate strategy matter?
针对近年认为公司战略不重要的观点，本文通过分析方差分解文献，证明公司层面因素及公司战略本身对业务间盈利差异有显著影响。
A revisionist view that corporate strategy does not matter has gained considerable influence in recent years. This view largely stems from empirical results of early variance decomposition studies that found negligible corporate effects associated with profitability differences between businesses. Our analysis of the variance decomposition literature shows this view to be incorrect. Not only do the studies as a group show that factors at the corporate level of organizations contribute to profitability differences, but also evidence suggests that factors specifically associated with corporate strategy contribute to corporate effects. Corporate strategy in fact does matter. Copyright © 2001 John Wiley & Sons, Ltd.