The respondent firms in the study were split based on the average
score calculated across the nine strategy items for each firm. Firms
with a strategy value of less than 3 (i.e. the median value) were con-
sidered as firms following a cost leadership strategy and firms
that had an average strategy value of 3 or more were considered as
following a differentiation strategy. A total of 83 (39%) sample
elements belonged to the cost leadership group while the remaining
firms were found to be following the differentiation strategy. Moderator regression was performed for each group separately. For both
the regressions, performance was the dependent variable.