The multivariate and bivariate analysis of the synergistic effect of corporate competitiveness factors

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JEL classification

• Econometric and Statistical Methods: Special Topics: Other
• Firm Performance: Size, Diversification, and Scope
• Business Administration: General

Keywords

Competitiveness, competitiveness factors, corporate financial performance, synergy, k-Nearest Neighbours

Abstract

Corporate competitiveness is influenced by a number of factors. Their impact is not partial, but synergistic. It is necessary to respect the phenomenon of synergy consistently when examining which of these potential competi-tiveness attributes can really function as these factors. Consequently, feature selection and classification methods of statistical pattern recognition have been used for the multivariate statistical analysis of and search for competitiveness factors. The calculations conducted herein show that the Sequential Forward Floating Search method in combination with k-Nearest Neighbours classification is capable of capturing the synergistic effect of the whole set of factors, providing much better results than simple bivariate analysis methods that test only the partial effects of individual factors.