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https://hdl.handle.net/2440/74901
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Type: | Journal article |
Title: | Extending resource-based logic: applying the resource-investment concept to the firm from a payments perspective |
Author: | Zubac, Angelina Hubbard, Graham Lindsay Johnson, Lester W. |
Citation: | Journal of Management, 2012; 38(6):1867-1891 |
Publisher: | SAGE Publications |
Issue Date: | 2012 |
ISSN: | 0149-2063 |
School/Discipline: | Business School |
Statement of Responsibility: | Angelina Zubac, Graham Hubbard, Lester Johnson |
Abstract: | This article argues that resource-based logic can be extended by conceptualizing the firm in resource-investment terms. It establishes that investing in resources is essentially a bilateral process involving managers and the owners of capital and that all resource-investments are necessarily made within an institutional superstructure. As a result, the capital invested into the firm is necessarily highly structured. These ideas are developed in this article from a payments perspective because this perspective allows scholars to explore the ex ante investment decisions that allow firms to grow, and to focus on firms’ resource payments, which can be considered a proxy for firms’ ex post resource-investments. The article concludes with a discussion of the implications of these ideas, including the implications for performance, theory of the firm, and endogenous growth research. |
Keywords: | resource-based view; payments perspective; capital; institutions; theory of the firm |
Rights: | © The Author(s) 2012 |
DOI: | 10.1177/0149206310383907 |
Appears in Collections: | Business School publications |
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