B. P. S. Murthi, Kannan Srinivasan, Gurumurthy Kalyanaram, Controlling for Observed and Unobserved Managerial Skills in Determining First-Mover Market Share Advantages, Journal of Marketing Research, Vol. 33, No. 3 (Aug., 1996), pp. 329-336
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Murthi et al. (1996) studied this question.