Business strategy, market structure and risk‐return relationships: A structural approach
提出一个结构性模型，整合并扩展了风险收益结果、市场份额、企业行为特征与企业间竞争之间关系的已有发现，并用印第安纳州商业银行数据验证了市场份额在考虑企业个体特征后仍对风险收益有重要影响，反映了市场力量的行使。
Abstract A structural model is proposed which integrates and extends previous findings on the interrelations between risk—return outcomes, market share, firm conduct attributes, and inter‐firm rivalry. It is argued that the relative impact of market share and firm conduct attributes on risk—return outcomes depends on the intensity of rivalry. The empirical setting is commerical banking in Indiana (1975–79). Latent variable path analysis (partial least‐squares) is used to estimate the model. The effect of market share is found to be quite important, even when possible ‘spurious’ effects due to differences in individual firm attributes are controlled for. Given consistent indications of oligopolistic coordination found in various parts of the model, it is inferred that the measured effect of market share reflects the exercise of market power.