Extending resource-based logic: applying the resource-investment concept to the firm from a payments perspective
Date
2012
Authors
Zubac, Angelina
Hubbard, Graham Lindsay
Johnson, Lester W.
Editors
Advisors
Journal Title
Journal ISSN
Volume Title
Type:
Journal article
Citation
Journal of Management, 2012; 38(6):1867-1891
Statement of Responsibility
Angelina Zubac, Graham Hubbard, Lester Johnson
Conference Name
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.
School/Discipline
Business School
Dissertation Note
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Rights
© The Author(s) 2012