The relative influence of competitive intensity and business strategy on the relationship between financial leverage and performance

Capital Structure, Profitability and Firm Value: Panel Evidence of Listed Firms in Kenya

“…Firm's size and growth may influence performance since larger firms tend to enjoy economies of scale, which may positively influence financial results (Jermias 2008). Therefore, a positive relationship between firm's size and financial performance is expected.…”

Determinants of Debt Financing and Their Moderating Role to Leverage-Performance Relation: An Emerging Market Review

“…5;2016 these contingencies while studying leverage-performance relation. Farooq et al (2014) and Jermias (2008) studied firm's strategy and market competition as moderator to the leverage-performance relation. Similarly, Gleason, Mathur, and Mathur (2000) found culture as important moderator to the leverage-performance relation.…”

A Structural Equation Model for Analyzing the Impact of Environmental Turbulence on Non-Financial Performance

“…Competitive intensity in the industry represents the power's center and axis that contributes to determining the industry attractiveness, and among the factors affecting the determination of the competition intensity is the industry growth, the fixed cost portion to the total value added to the activity, and the extent of depth in product differentiation, and finally the balance and centralization between the competitors (Jermias, 2008). Thus, if an industry characterized by a high growth and fixed costs relatively low, and a wide extent of the product differentiation possibility, and a high degree of centralization, then the importance is the available of greater profitability opportunities for most of the participants in the industry and vice versa (Cui, Griffith, & Cavusgil, 2005).…”