The Next Step in the Evolution of the RBV: Integration with Transaction Cost Economics

Kirsten Foss () and Nicolai Foss ()
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Kirsten Foss: Copenhagen Business School, Center for Knowledge Governance and Department of International Economics and Management

management revue. Socio-economic Studies, 2004, vol. 15, issue 1, 107-121

Abstract: This essay addresses the role of transaction cost economics (TCE) in advancing the resource-based view. In particular, it is argued that TCE has the potential to remedy a number of weak spots in the RBV, such as the absence of attention in the RBV to the interaction between value creation and value appropriation. This and other weak spots in the RBV stem from not taking account of transaction costs to a sufficient extent. Integrating TCE with the RBV adds new insight into the analysis of sustained competitive advantage.

Keywords: The resource-based view; transaction cost economics; sustained competitive advantage (search for similar items in EconPapers)
JEL-codes: F23 J53 M10 (search for similar items in EconPapers)
Date: 2004
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