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Knowledge-Based Approaches to the Theory of the Firm: Some Critical Comments

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  • Nicolai J. Foss

    (Department of Industrial Economics and Strategy, Copenhagen Business School, Nansensgade 19.6, DK-1366 Copenhagen K, Denmark)

Abstract

It is argued that Kogut and Zander (Kogut, B., U. Zander. 1992. Knowledge of the firm, combinative capabilities, and the replication of technology. Organ. Sci. 3 383--397.) and Conner (Conner, K. R. 1991. A historical comparison of resource-based theory and five schools of thought within industrial organization economics: Do we have a new theory of the firm? J. Management 17 121--154.) erred in the specific way in which they claimed that a distinct theory of the multi-person firm can be constructed on the basis of a theory of organizational knowledge or from resource-based insights. It is not possible to tell very much of a story about why there should be firms in lieu of notions such as “opportunism” or “moral hazard.” However, properly interpreted, knowledge-based theories may help shed light on issues relating to the boundaries and internal organization of the firm.

Suggested Citation

  • Nicolai J. Foss, 1996. "Knowledge-Based Approaches to the Theory of the Firm: Some Critical Comments," Organization Science, INFORMS, vol. 7(5), pages 470-476, October.
    • Handle: RePEc:inm:ororsc:v:7:y:1996:i:5:p:470-476
    DOI: 10.1287/orsc.7.5.470
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