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Student
Title
Supervisor
Faculty
Educational Programme
Final Grade
Year of Graduation
Aleksandra Nikitina
Subjective and Objective Measures of Competitive Pressure and Interrelations with Russian Manufacturing Firms\' Performance
Applied Economics
(Master’s programme)
10
2017
The competitive pressure is one of the most important market characteristics since it determines the strategic behavior of firms, the structure of markets, market interactions. Nevertheless, there is no consensus in academic literature about how competitive pressure should be measured. Since the objective indicators of the competition level (structural or market power indicators) not always reflect the real pressure faced by the firms, and have several drawbacks, including, among others, the complexity of calculation, interpretation and market borders determination, the methods of direct and indirect subjective assessments of competitive pressure had been widely spread recently. Nevertheless, these estimates do not always adequately reflect the competitive situation in the market because of the human factor, which can shift estimates, overstating the influence of competition significance. Moreover, these estimates are not always consistent with each other.

Thus, the purpose of our study was to identify the consistency of subjective assessments of competition with alternative estimators, basing on the analysis of these estimates impact on the firms’ performance: productivity, profitability and innovation activity. As a result, a stable relationship was found between the subjective index of competitive pressure and the pricing principle; it was also shown that the subjectivity of the competitive pressure assessment is more common for medium-sized enterprises and enterprises of the food industry, the production of non-metallic mineral products, machinery and equipment, and vehicles. As an additional result, we found a U-shaped relationship between the subjective estimates of competitive pressure and firms’ performance and innovation activity.

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