Please use this identifier to cite or link to this item: http://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
RMID: 0020122497
DOI: 10.1177/0149206310383907
Appears in Collections:Business School publications

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