A Bayesian Operationalization of The Resource - Based View  

Oleh:

Hansen, Mark H. ; Perry, Lee Tom ; Reese, C. Shane

Jenis: Article from Journal - ilmiah internasional
Dalam koleksi: Strategic Management Journal vol. 25 no. 13 (Dec. 2004), page 1279-1295.
Topik: Bayesian; resource - baed view; bayesian methodology; theory and methodology; alignment; compeittive advantage

Ketersediaan

Perpustakaan Pusat (Semanggi) Nomor Panggil: SS30.17 Non-tandon: 1 (dapat dipinjam: 0) Tandon: tidak ada

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This paper argues that the gap between the theoretical utility and the practicality of the reosurce - based view (RBV) may be narrowed by operationalizing the theory more consistently with penrose's original framework. The operationalizaitonproposed the theory more consistently with penrose's original framework. The operationalization proposed here is a two fold approach. First, the RBV may be enhanced by the explicit recognition of penrose's two classes of resources, namely, administrative resources and productive resources. This distinction suggests a focus on the administrative decisions of managers that lead to economic performance. Second, we argue that the RBV is a theory about extraordinary performers or outliers not averages. Therefore, the statistical methods used in applying the theory must account for individual firm differences, and not be based on means, which statistically neutralize firm differences. We propose a novel bayesian hierarchical methodology to examine the relationship between adminsitrative decisions and economic performance over time. We develop and explain a measure of competitive advantage that goes beyond comparisons of economic performance. This bayesian methodology allows us to make meaningful probability statements about specific individual firms and the effects of the administrative decisions examined in this study.

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