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How Property Rights Economics Furthers the Resource-Based View: Resources, Transaction Costs and Entrepreneurial Discovery

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  • Kim, Jongwook

    (Western Washington U)

  • Mahoney, Joseph T.

    (U of Illinois at Urbana-Champaign)

Abstract

An understanding of Austrian entrepreneurship, in conjunction with property rights, resource-based and transaction costs theory allow us to understand economic rent generation as a dynamic process. The current paper expands Foss and Foss' (2005) application of property rights theory in explaining economic value creation to include not only economizing on transaction costs, but also Austrian entrepreneurial discovery for generating new combinations and adaptive responses for transaction costs economizing, particularly as a basis for managing strategic change.

Suggested Citation

  • Kim, Jongwook & Mahoney, Joseph T., 2006. "How Property Rights Economics Furthers the Resource-Based View: Resources, Transaction Costs and Entrepreneurial Discovery," Working Papers 06-0100, University of Illinois at Urbana-Champaign, College of Business.
  • Handle: RePEc:ecl:illbus:06-0100
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    File URL: http://www.business.illinois.edu/Working_Papers/papers/06-0100.pdf
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    References listed on IDEAS

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    Cited by:

    1. Pettus, Michael L. & Kor, Yasemin Y. & Mahoney, Joseph T., 2007. "A Theory of Change in Turbulent Environments: The Sequencing of Dynamic Capabilities Following Industry Deregulation," Working Papers 07-0100, University of Illinois at Urbana-Champaign, College of Business.
    2. Giuseppe Marzo, 2013. "Some Unintended Consequences of Metaphors: The Case of Capital in Intellectual Capital Research," FINANCIAL REPORTING, FrancoAngeli Editore, vol. 2013(3-4), pages 111-140.
    3. Foss, Nicolai J. & Klein, Peter G. & Kor, Yasemin Y. & Mahoney, Joseph T., 2006. "Entrepreneurship, Subjectivism, and the Resource-Based View: Towards a New Synthesis," Working Papers 06-0121, University of Illinois at Urbana-Champaign, College of Business.

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