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Edith Penrose's (1959) Contributions to the Resource‐based View of Strategic Management
Author(s) -
Kor Yasemin Y.,
Mahoney Joseph T.
Publication year - 2004
Publication title -
journal of management studies
Language(s) - English
Resource type - Journals
SCImago Journal Rank - 4.398
H-Index - 184
eISSN - 1467-6486
pISSN - 0022-2380
DOI - 10.1111/j.1467-6486.2004.00427.x
Subject(s) - economic rent , competitive advantage , resource (disambiguation) , resource based view , strategic management , economics , industrial organization , business , microeconomics , management , computer science , computer network
We argue that Rugman and Verbeke (2002) underestimate the importance of Penrose's (1959) contributions to the modern resource‐based view of the firm. In particular, we take issue with Rugman and Verbeke's (2002) arguments concerning Penrose's (1959) contributions to our knowledge of: (1) the creation of competitive advantage, (2) sustaining competitive advantage, (3) isolating mechanisms, and (4) competitive advantage and economic rents. In our response, we show that Penrose (1959) has both directly and indirectly influenced the modern resource‐based view of strategic management.