Abstract
Abstract Understanding how superior financial performance of firms could be sustained is of great importance to both practitioners and scholars given the increasing levels of environmental change. Our review of the diverse theoretical perspectives on sustained superior performance suggests that greater appreciation of the assumptions about environmental change and market imperfections may provide opportunities for a synthesis. We find empirical research to lag behind theoretical developments. To test the theoretical perspectives on sustained superior performance under high levels of environmental change, we suggest a research agenda to develop reliable guidance for practitioners. Copyright © 2007 John Wiley & Sons, Ltd.
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