Understanding opportunity discovery and sustainable advantage: the role of transaction costs and property rights

By Kirsten Foss, N. J. Foss. 2008

142 citations recorded by the source corpus.

To add insight in new value creation, opportunity discovery should be integrated with strategic management theory. Based on the resource-based view and the economics of property rights, we build a framework that accomplishes this. Our key argument is that property rights and transaction costs are important antecedents of opportunity discovery. We identify two mechanisms that establish this influence and examine alternative ways in which knowledge, transaction costs, and property rights influence opportunity discovery and sustainable advantage. Copyright © 2008 Strategic Management Society.

Subfields: Accounting, Finance, Strategy and Management

View Paper: https://www.semanticscholar.org/paper/7d0a4c0f70282f3a19bf5a4a0d6f4f64fb1bc555

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Citations in the corpus

The Resource-Based View: A Review and Assessment of Its Critiques (2010, background): “Locating the source of value creation within the imagination of those networked provides room for radical, disruptive innovation and a dynamic view of value in the RBV (K. Foss & Foss, 2008).”
The Concept of “Opportunity” in Entrepreneurship Research: Past Accomplishments and Future Challenges (2010, background): “…can be maximized by forgiving business models where the risk is disproportionally shifted to stakeholders outside of the principal entrepreneur/investors Foss & Foss (2008) Resource-based view/ economics of property rights Property rights and transaction costs are antecedents of…”
The formation and interplay of social capital in crowdfunded social ventures (2014, background): “Necessary alliances for its exploitation are tagged with high transaction costs and, therefore, should be limited (Foss and Foss 2008).”
Building networks into discovery: The link between entrepreneur network capability and entrepreneurial opportunity discovery (2018, background): “…& Baron, 2007; Shane & Venkataraman, 2000), opportunity discovery has been acknowledged as a central construct and outcome of the agenda of entrepreneurship research because it may result in the formation of new firms (Foss & Foss, 2008; Foss, Lyngsie, & Zahra, 2013; Shane, 2003; Shane, 2012).”