Efectos empresa, grupo estratégico y localización en el sector hotelero español.

Several studies have determined the relative importance of firm, industry, corporate, and strategic groups' effects in explaining firm profitability. Firm performance also depends on the territory where the company is located. The present paper analyzes the location effect at the regional level within a country, and the relative importance of this region effect is examined together with firm and strategic group effects. This paper offers a multilevel analysis and is applied to the Spanish hotel industry employing a cross-classified hierarchical model, because hotels are cross-classified into strategic groups and locations. The results show that the firm effect is the one that accounts for the largest proportion of performance variance, whereas the strategic group and location effects have a relevant role in explaining firm performance. [ABSTRACT FROM AUTHOR]