Strategic groups, mobility and firm performance The case of large American non-financial companies at the turn of the 21th century

The objective of this paper is to explore the following proposition: the height of mobility barriers and the extent of multi-market competition have a complementary and positive effect on firm performance. Over the period 1992-2007, we show that the ability of large US non-financial firms to adopt a resource configuration specific to its strategic group is valued both economically and financially.