Part of that stream of research has been influenced by research in economics, which always
had retained the general view of the firm, and where, in industrial economics, determinants of
performance has been a research tradition for several decades. However, market characteristics, which are not actionable from the viewpoint of the firm, received more emphasis there
than organizational characteristics, which are actionable, and hence of greater interest from
the viewpoint of business administration. Indeed, the fact that business performance is based
on perceptions and decisions of business executives is usually neglected in economics.