Understanding Opportunity Discovery and Sustainable Advantage: The Role of Transaction Costs and Property Rights

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    Abstract

    To add insight in new value creation, opportunity discovery should be integrated with strategic management theory. Based on the resource-based view and the economics of property rights we build a framework that accomplishes this. Our key argument is that property rights and transaction costs are important antecedents of opportunity discovery. We identify two mechanisms that establish this influence, and examine alternative ways in knowledge, transaction costs, and property rights influence opportunity discovery and sustainable advantage.
    Original languageEnglish
    Place of PublicationFrederiksberg
    PublisherCenter for Strategic Management and Globalization
    Number of pages45
    ISBN (Print)9788791815317
    Publication statusPublished - Apr 2008
    SeriesSMG Working Paper
    Number18/2008

    Keywords

    • Opportunity discovery
    • Sustainable advantage
    • Transaction costs
    • Property rights
    • The resource-based view
    • Knowledge

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