search query: @indexterm Strategic management / total: 1889
reference: 136 / 1889
| Author: | Foss, K. Foss, N.J. |
| Title: | Resources and transaction costs: how property rights economics furthers the resource-based view |
| Journal: | Strategic Management Journal
2005 : JUN, VOL 26:6, p. 541-553 |
| Index terms: | Strategic management Competitive advantage Property rights |
| Language: | eng |
| Abstract: | Property rights (hereafter as: p-rights.) economics furthers the resource-based view (RBV) of strategic management. First, resources (here as: rcs.) are conceptualized as being composed of multiple attributes for which p-rights may be held. Second, a rcs. owner's ability to create, appropriate, and sustain value from rcs. depends on the p-rights that he or she holds and on the transaction costs (here as: tr-costs) of exchanging, defining, and protecting them. While tr-costs are a major source of value dissipation, reducing such dissipation may create value. Implications for the RBV analysis of sustained competitive advantage are derived. |
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