An Empirical Study of Strategic Positioning and Production Efficiency

Table 6

Bootstrap results of significance of the difference in the CL coefficient between high and low cost leadership samples.

	Coefficient estimate	-stat	value	Coefficient estimate	-stat	value
Panel A: Top 50th percentile versus bottom 50th percentile
CL	0.0999	406.88	0.0000	0.0064	154.24	0.0000
Difference	0.0935	375.38	0.0000
Panel B: Top 33rd percentile versus bottom 33rd percentile
CL	0.1167	265.55	0.0000	0.0062	132.76	0.0000
Difference	0.1104	249.97	0.0000
Panel C: Top 25th percentile versus bottom 25th percentile
CL	0.1294	214.16	0.0000	0.0063	125.70	0.0000
Difference	0.1231	202.97	0.0000
Panel D: Top 10th percentile versus bottom 10th percentile
CL	0.3183	186.75	0.0000	0.0100	144.808	0.0000
Difference	0.3083	180.75	0.0000

See the appendix for variable definitions.