Changes in Persistence of Performance Over Time

51 Pages Posted: 16 Sep 2016 Last revised: 18 Oct 2017

See all articles by Victor Manuel Bennett

Victor Manuel Bennett

Duke University - Fuqua School of Business; Duke Innovation & Entrepreneurship Initiative

Claudine Madras Gartenberg


Date Written: October 16, 2016


One of the central puzzles of strategy is the persistence of performance. We revisit a research tradition that lays out trends in persistence of performance, to create shared facts for strategy scholars to explain. We extend the time series from prior studies and apply recent methods for measuring performance persistence. We show that persistence of performance is not stable. Notably, our measure shows a decrease in persistence from the beginning of the sample to roughly 2000, followed by a marked increase thereafter. Our evidence suggests that the post-2000 increase in persistence is at least partly attributable to increases in industry concentration associated with the greater importance of software across industries in the late 1990s.

Suggested Citation

Bennett, Victor Manuel and Gartenberg, Claudine Madras, Changes in Persistence of Performance Over Time (October 16, 2016). Duke I&E Research Paper No. 2016-41. Available at SSRN: or

Victor Manuel Bennett (Contact Author)

Duke University - Fuqua School of Business ( email )

Box 90120
Durham, NC 27708-0120
United States


Duke Innovation & Entrepreneurship Initiative ( email )

215 Morris St., Suite 300
Durham, NC 27701
United States

Claudine Madras Gartenberg

Wharton ( email )

The Wharton School
Philadelphia, PA 19104-6370
United States
2158987755 (Phone)

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