The Search for Hypercompetition: Evidence from a Nordic Market Study

Annesofie Lindskov*, Kristian J. Sund, Johannes Kabderian Dreyer

*Corresponding author for this work

Research output: Contribution to journalJournal articlepeer-review


Some scholars and practitioners argue that markets have become hypercompetitive, decreasing the opportunities for sustainable competitive advantage. We test for increasing competition in a panel of 266 Danish firms from 7 industries over the period 1980-2017. We find no support for the argument that the market across industries has become hypercompetitive over this period. The durability of abnormal business returns has remained stable. Dynamism only changed in the 1980s, and levels of munificence are also stable. We do, however, find a small decrease in the survival probability rate of firms over time. Our results lead us to caution against the use of hypercompetition as a universal label for the state of contemporary competition.
Original languageEnglish
JournalIndustry and Innovation
Pages (from-to)1-43
Publication statusE-pub ahead of print - 30 Dec 2020


  • hypercompetition
  • sustainable competitive advantage
  • resource-based view
  • competitive dynamics

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