Understanding opportunity discovery and sustainable advantage : the role of transaction costs and property rights
Abstract
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 knowledge, transaction costs, and property rights
influence opportunity discovery and sustainable advantage.
Publisher
Norwegian School of Economics and Business Administration. Department of Strategy and ManagementSeries
Discussion paper2008:2