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EN
Clusters of interrelated firms could be an important source of competitive advantage. However, measuring the performance of clusters and firms within clusters is difficult. In this paper the authors show how the residual income model can be used to measure the performance of clusters and firms within clusters. This is accomplished by separating the performance due to cluster membership from the performance due to firm-specific factors. The developed model should be of particular interest to managers of firms within clusters and the public sector in determining appropriate interventions for forming and supporting clusters.
EN
This paper considers the importance of the automobile industry in the global economic environment and sheds additional insight on the forecasting of passenger car sales. The study uses data from the automotive sectors in 38 countries, which account for more than 80% of passenger cars in use worldwide for testing the accuracy of a general framework that uses income and other country-specific factors to forecast passenger cars sales for short- and mid-term periods. The results indicate that this framework can be applied to a wide range markets, but its performance is primarily influenced by income levels in these markets. Tested and discussed is not only income as the main predictor of sales, but also the effects of other factors such as vehicle ownership level on passenger car sales projections. Income is shown to play both a determining role and a moderating role that affects other variables’ impact on passenger car sales.
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