The effects of cost and asset retrenchment on firm performance: The overlooked role of a firm's competitive environment

被引：91
作者：
Morrow, JL
Johnson, RA [1 ]
Busenitz, LW
机构：
[1] Univ Oklahoma, Price Coll Business, Norman, OK 73019 USA
[2] Birmingham So Coll, Div Business, Birmingham, AL 35254 USA
[3] Birmingham So Coll, Grad Program, Birmingham, AL 35254 USA
来源：
JOURNAL OF MANAGEMENT | 2004年 / 30卷 / 02期
关键词：
D O I：
10.1016/j.jm.2003.01.002
中图分类号：
F [经济];
学科分类号：
02 ;
摘要：
When firms face declining financial performance, research suggests that cost and asset retrenchment can lead to improved performance among poorly performing firms. However previous studies have largely focused on firms operating in mature industries. This research develops and tests arguments that cost and/or asset retrenchment strategies will have different effects on firm performance in competitive environments characterized as growing and declining. In growth industries, asset retrenchment was positively related to performance improvement while cost retrenchment was unrelated. In declining industries, cost retrenchment was positively related to improved performance while asset retrenchment had a negative effect on firm performance. Implications of these findings for turnaround strategies are discussed. (C) 2003 Elsevier Inc. All rights reserved.
引用
收藏
页码：189 / 208
页数：20
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