Resource-based View Research Research Articles

New Venture Value Creation in Syndicates Between Independent and Corporate Investors

Consistent with the resource-based view research on investment syndicates indicates relative performance advantages of syndicate-backed ventures. However, in line with agency theory, the literature shows that heterogeneous syndicates between independent venture capital (IVC) and corporate venture capital (CVC) produce portfolio firms that exert only marginal growth and are less likely to exit successfully. These contrasting views motivate this study, which aims to shed light on the determinants of value creation for new venture firms in IVC–CVC co-investing. Our qualitative research builds on a cross-industry sample of 35 interviewees identifying a distinctive set of value drivers comprising shareholder relationships, corporate setup, venture life cycle, and deal terms.

Project managing in post-conflict environments: an exploration of the resource profiles of Sri Lankan non-governmental organizations involved in development projects

PurposeThe aim of this study is to examine the configuration of project resources in organizations operating in a post-conflict country environment using a Resource-Based View (RBV) perspective.Design/methodology/approachData collection was undertaken using a quantitative survey study of Non-Governmental Organizations (NGOs) involved in development projects in Sri Lanka, which obtained 445 responses. An Exploratory Factor Analysis and subsequent Confirmatory Factor Analysis were performed to identify and confirm the Project Management (PM) resource profile composition of these organizations.FindingsThe study identified resource profiles incorporated items at the team, organizational and collaborative social resource levels and did not differ significantly by organization type. This suggests that the current focus of PM RBV research that implicitly uses a competitive advantage derived framework may need to be adapted for contexts such as post-conflict environments.Research limitations/implicationsFor organizations seeking to deliver projects in developing countries, the findings indicate that relational capacity in the form of a collaborative social resource may be required to adapt team and organizational resources to post-conflict environments.Practical implicationsThe lessons learnt from NGOs can be of value to other organisations seeking to operate in post-conflict environments. The findings from this research reveal that organizations in Sri Lanka establish resource profiles that meet domestic and external requirements. For the management of these organizations, recognition of the inherent contradictions of this strategy can enable the optimization of resource profiles, improving organizational efficiencies.Originality/valueThe study has used insights from NGOs involved in international and local development projects to extend current knowledge of PM resources. While NGOs are distinctive, the critical PM resources identified here may be of value to private and public organizations seeking to develop project resource profiles adapted to emerging markets.

Formal Modeling in the Resource Based View

This symposium presents formal models at the forefront of RBV research, covering a wide range of phenomena and modeling techniques, including game theory, stochastic processes, real options, and value-based strategy. Though the RBV (resource based view) is one of the core theories in the management field, its largely verbal nature has made it vulnerable to several fundamental critiques pertaining its logical structure. Formal models are the ideal method to alleviate such critiques as they provide rigorous and internally consistent descriptions in unambiguous mathematical language. Over the past years there has been a rise in formal modeling research published in leading management journals, and this symposium provides an overview of the most recent developments. The Dynamics of Capability Development and the Management of Global Value Chains Presenter: Brian Wu; U. of Michigan Is Synergy a Barrier to Business Exit? Presenter: Arkadiy V. Sakhartov; U. of Illinois at Urbana-Champaign A Value-Based Perspective on Resource Bundling with Frictions Presenter: Andrew Boysen; Kenan-Flagler Business School, U. of North Carolina at Chapel Hill A Formal Framework for the RBV: Resource Dynamics as a Stochastic Process Presenter: Phebo Derk Wibbens; INSEAD

Assessing performance measurement in RBV research

Purpose– The purpose of this paper is to demonstrate why greater attention to performance measurement is so essential to assessing the meaningfulness and usefulness of the knowledge gained from empirical tests of the resource-based view (RBV).Design/methodology/approach– This paper reviews the RBV empirical literature and relies on illustrative examples from various industries in order to assess the degree to which the empirical operationalization of the dependent variable in RBV research adheres to its theoretical specification.Findings– This analysis shows that although RBV theorists routinely conceptualize the dependent variable in terms of a firm's performance in direct comparison to the performance of its competitors, or relative performance, the overwhelming majority of empirical studies conducted in the field operationalize the dependent variable in terms of a firm's performance in isolation, or absolute performance.Research limitations/implications– Because significant findings are only meaningful if they are grounded in valid data, the findings suggest that support for the RBV and subsequent practical advice about resource-based strategy appears tenuous. Therefore, this paper highlights several possible reasons for the tendency to equate absolute and relative performance, discusses the implications of this disconnect on the RBV's usefulness and scientific rigor, and suggests how both theorists and empiricists might advance theory and method to produce more meaningful knowledge about the RBV.Originality/value– By providing a critical view of the RBV, this paper offers new insights into what the authors know, what the authors do not know, and how the authors can improve what is known about this important and well-accepted theory.

A Review of Approaches to Empirical Research on the Resource-Based View of the Firm†

This study reviews empirical studies of the resource-based view (RBV) and examines methodological issues and new directions that will help to clarify the value and boundaries of the RBV. Through our comprehensive review of the research design and operationalization of resource-based constructs used in 125 empirical studies, we (1) discuss key empirical issues particularly important to RBV research, (2) illustrate how researchers have or have not overcome some of these challenges, and (3) highlight two important approaches that offer promise for sharpening the boundary conditions of the RBV: an integrative framework for RBV research and utilization of nonsignificant results.

Complementary Resources, Appropriability and Vertical Interfirm Relations in the Italian Movie Industry

Resource-based view research plays a prominent role in strategic management studies. In this paper we investigate the relativistic interpretation of the ''scarcity'' concept, the appropriability of complementary resources, the measurability of the contribution that a specific resource brings to the overall value of the firm. The theoretical issues have been made context specific trying to show (a) how a not-scarce complementary resource like movie theatres can help build value for the distributor, mainly through the creation of reputation for the subsequent TV broadcasting; (b) that this resource can be appropriated from different companies; (c) that companies can develop different kinds of interfirm relationships in order to control complementary resources; (d) that reliable and valid parameters can be provided to measure the value of resources and the related degree of control from the distributors. Supporting empirical evidence is provided and implications for managing complementary resources are discussed.