Competitive Dynamics in the Global Insurance Industry : Strategic Groups, Competitive Moves, and Firm Performance

Annotation This thesis investigates the competitive dynamics in the global insurance industry from 1999 to 2008. After reviewing the current state of the academic debate on interfirm rivalry, it derives a research agenda spanning different levels of analysis and phenomena of interest. Specifically, the thesis explores (1) how and why firms continuously adjust their strategic profiles in the presence of an industry's strategic group structure, (2) whether market shocks (namely 9/11 and Hurricane Katrina) temporarily change the decision-logic underlying competitive choices, and (3) whether stock markets respond differently to competitive moves that follow a clearly stated strategic rationale This book explores causes and consequences of interfirm rivalry within the global insurance industry. Based on three empirical studies, the book investigates (1) the mechanisms driving firm positioning and strategic group dynamics, (2) the impact of market shocks on firms' competitive behavior, and (3) the determinants of stock market responses to individual competitive actions. The book's insights offer important implications for academics and practitioners alike Front Matter....Pages I-XV Introduction....Pages 1-8 Theoretical Background....Pages 9-17 Convergence-Divergence Within Strategic Groups....Pages 18-58 From Crisis to Opportunity: How Market Shocks Impact Interfirm Rivalry....Pages 59-84 Performance Effects of Corporate Divestiture Programs....Pages 85-110 Discussion and Conclusion....Pages 111-123 Back Matter....Pages 124-175