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Purpose
This study aims to test the moderating effect of market-supporting institution on the strategic similarity–firm performance relationship.
Design/methodology/approach
The present is study based on a large panel of firms from developed and emerging economies covering the period 2000–2014.
Findings
Highly-developed market-supporting institutions improve the performance of firms that stick to industry's average strategies while weakly-developed market supporting institutions improve the performance of firms that deviate from industry norms.
Originality/value
This is the first paper that shows that the effect of strategic similarity on firm performance depends on the degree of development of market-supporting institutions.
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2022
Emerald Publishing Limited
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