Purpose

The purpose of this study is to analyse the effects of market-based and nonmarket-based strategies on firm performance in African countries. This study also investigates host country institutions' effect on the relationship between firm strategies and performance in these countries.

Design/methodology/approach

Data of 1,276 firms in five African countries were obtained from two different sources: The World Bank Enterprise Database and The Global Competitiveness Report. Two-stage least squares regression was applied.

Findings

Both market-based strategies and corporate political activity (CPA)improve firm performance in the African countries included in the analysis. Institutional development also has a direct positive impact on firm performance. However, the effect of CPA weakens as the host country shifts towards more efficient, market-oriented institutions. Furthermore, the results show that local African firms benefit more from institutional development than foreign firms.

Originality/value

The paper confirms and extends our understanding of the dynamic fit between institutions and strategy by highlighting the moderating role of institutional development on CPA and market-based strategies in enhancing firm performance.

中文翻译：

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制胜之道：撒哈拉以南非洲的战略选择、制度和绩效

目的

本研究的目的是分析基于市场和非基于市场的战略对非洲国家企业绩效的影响。本研究还调查了东道国机构对这些国家企业战略和绩效之间关系的影响。

设计/方法/方法

五个非洲国家 1,276 家公司的数据来自两个不同的来源：世界银行企业数据库和全球竞争力报告。应用了两阶段最小二乘回归。

发现

基于市场的战略和企业政治活动 (CPA) 都提高了分析中的非洲国家的公司业绩。制度发展对公司绩效也有直接的积极影响。然而，随着东道国转向更高效、以市场为导向的机构，CPA 的作用减弱。此外，结果表明，与外国公司相比，当地非洲公司从制度发展中获益更多。

原创性/价值

本文通过强调制度发展对注册会计师和基于市场的战略在提高公司绩效方面的调节作用，证实并扩展了我们对制度与战略之间动态匹配的理解。