Investigating the determinants of firm performance: A Qualitative Comparative Analysis of insurance companies

Stavros Kourtzidis, Nickolaos Tzeremes

    Research output: Contribution to journalArticlepeer-review

    8 Citations (Scopus)
    150 Downloads (Pure)


    Purpose: This study uses tenets of the complexity theory in order to study the effect of various determinants of firm’s performance such as CEO’s compensation and age for the case of seventy-two insurance companies.

    Design/methodology/approach: We identify the asymmetries in the dataset by creating quantiles and using contrarian analysis. Instead of ignoring this information and use a main effects approach, we choose to take into account all the available information in the dataset. For this purpose we use Qualitative Comparative Analysis to find alternative equifinal routes towards high firm performance.

    Findings: Five configurations are found which lead to high performance. Every one of the five configurations found to be sufficient but not necessary for high firm performance.

    Originality/value: The research findings contribute to a better understanding of the determinants of firm’s performance taking into account the asymmetries in the dataset. We identify alternative paths towards high firm performance which could be a vital information for the decision maker inside a firm.
    Original languageEnglish
    Pages (from-to)3-22
    Number of pages20
    JournalEuropean Journal of Management & Business Economics (EJMED)
    Issue number1
    Early online date4 Jun 2019
    Publication statusPublished - 19 Mar 2020


    • Complexity theory
    • Qualitative Comparative Analysis
    • Contrarian analysis
    • Insurance companies
    • Compensation


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