Hybrid strategy and firm performance: a time-series qualitative comparative analysis of the Chinese ICT sector

PurposeThe paper examines whether the hybrid strategy can generate high performance and what hybrid strategy configurations are more conducive to high performance.Design/methodology/approachThis paper explores the complex causal relationships between six strategic elements (marketing, growth, R&D, capital, efficiency, stability) and firm performance. From a configurational approach, the authors utilize necessary condition analysis, time-series qualitative comparative analysis, and typical case extraction techniques to analyze 944 balanced panel data from 118 Chinese ICT firms during 2013–2020.FindingsChinese ICT sector firms do not rely on pure strategies (prospector or defender) to achieve high performance. The hybrid strategy is conducive to high performance. Only specific hybrid strategy configurations, including stable growth, innovative efficiency, and two-way player types, could enable firms to perform well. Six strategic elements do not constitute a necessary condition for high performance.Originality/valueThis paper proposed an integrated qualitative comparative analysis scheme, proved the effectiveness of the hybrid strategy on firm performance, and revealed how hybrid strategy configurations generate high performance.