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A market-process approach to corporate coherence

  • Nicolai J Foss

    (Department of Industrial Economics and Strategy, Copenhagen Business School, Copenhagen, Denmark)

  • Jens Fr�slev Christensen

    (Department of Industrial Economics and Strategy, Copenhagen Business School, Copenhagen, Denmark)

We address the notion of corporate coherence recently made prominent by Teece et al. (1994. Understanding corporate coherence: theory and evidence. Journal of Economic Behavior and Organization 23 : 1-30). We argue that the literature is confused on the meaning of this notion (and similar notions) along a number of dimensions. Drawing on insights from market-process theories, we propose a dynamic understanding of corporate coherence, an understanding that involves the corporate capacity to strike a favorable balance between the production and exploitation of new knowledge. This argument is elaborated drawing on Austrian economics, evolutionary economics, and post-Marshallian economics. Copyright © 2001 John Wiley & Sons, Ltd.

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File URL: http://hdl.handle.net/10.1002/mde.1012
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Article provided by John Wiley & Sons, Ltd. in its journal Managerial and Decision Economics.

Volume (Year): 22 (2001)
Issue (Month): 4-5 ()
Pages: 213-226

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Handle: RePEc:wly:mgtdec:v:22:y:2001:i:4-5:p:213-226
Contact details of provider: Web page: http://www3.interscience.wiley.com/cgi-bin/jhome/7976

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  1. Teece, David J., 1986. "Profiting from technological innovation: Implications for integration, collaboration, licensing and public policy," Research Policy, Elsevier, vol. 15(6), pages 285-305, December.
  2. George J. Stigler, 1951. "The Division of Labor is Limited by the Extent of the Market," Journal of Political Economy, University of Chicago Press, vol. 59, pages 185.
  3. Aoki, Masahiko, 1990. "Toward an Economic Model of the Japanese Firm," Journal of Economic Literature, American Economic Association, vol. 28(1), pages 1-27, March.
  4. Teece, David J. & Rumelt, Richard & Dosi, Giovanni & Winter, Sidney, 1994. "Understanding corporate coherence : Theory and evidence," Journal of Economic Behavior & Organization, Elsevier, vol. 23(1), pages 1-30, January.
  5. Jens Fr�slev Christensen, 1996. "Innovative Assets And Inter-Asset Linkages—A Resource-Based Approach To Innovation," Economics of Innovation and New Technology, Taylor & Francis Journals, vol. 4(3), pages 193-210.
  6. Henderson, Rebecca., 1994. "The evolution of integrative capability : innovation in cardiovascular drug discovery," Working papers 3711-94., Massachusetts Institute of Technology (MIT), Sloan School of Management.
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